Shimon Hatzir - Mar 1, 2024 Form 4 Insider Report for ORMAT TECHNOLOGIES, INC. (ORA)

Role: EVP, Electricity Segment
Signature: /s/ Jessica Woelfel, as attorney-in-fact
Stock symbol: ORA
Transactions as of: Mar 1, 2024
Transactions value $: $0
Form type: 4
Date filed: 3/4/2025, 09:21 PM
Previous filing: Jan 2, 2024
Next filing: Mar 21, 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ORA	Common Stock	Options Exercise	$0	+495	+13.4%	$0.00	4.19K	Mar 1, 2024	Direct	F1, F2
transaction	ORA	Common Stock	Options Exercise	$0	+1.01K	+23.99%	$0.00	5.2K	Mar 1, 2025	Direct	F1, F3
transaction	ORA	Common Stock	Options Exercise	$0	+358	+6.89%	$0.00	5.55K	Mar 1, 2025	Direct	F1, F4
transaction	ORA	Common Stock	Options Exercise	$0	+1.54K	+27.75%	$0.00	7.09K	Mar 1, 2025	Direct	F1, F5
transaction	ORA	Common Stock	Options Exercise	$0	+1.67K	+23.5%	$0.00	8.76K	Mar 1, 2025	Direct	F1, F5

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ORA	Restricted Stock Units	Options Exercise	$0	-495	-33%	$0.00	1.01K	Mar 1, 2024	Common Stock	495		Direct	F1, F2
transaction	ORA	Restricted Stock Units	Options Exercise	$0	-1.01K	-100%	$0.00	0	Mar 1, 2025	Common Stock	1.01K		Direct	F1, F3
transaction	ORA	Restricted Stock Units	Options Exercise	$0	-358	-50.07%	$0.00	357	Mar 1, 2025	Common Stock	358		Direct	F1, F4
transaction	ORA	Restricted Stock Units	Options Exercise	$0	-1.54K	-33.31%	$0.00	3.09K	Mar 1, 2025	Common Stock	1.54K		Direct	F1, F5
transaction	ORA	Performance Based Units	Options Exercise	$0	-2.66K	-100%	$0.00	0	Mar 1, 2025	Common Stock	2.66K		Direct	F6, F7
transaction	ORA	Restricted Stock Units	Options Exercise	$0	+555		$0.00	555	Mar 1, 2025	Common Stock	555		Direct	F1, F7

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each Restricted Stock Unit ("RSU") represents the right to receive one share of ORA common stock upon vesting.
F2	This portion of Restricted Stock Units ("RSUs") vested on March 1, 2024, being the second anniversary of the grant date. These RSUs were granted on March 1, 2022 and vest 33% on the second anniversary of the grant date and 67% on the third anniversary of the grant date. This transaction is being reported late due to an inadvertent administrative oversight. Due to this administrative error, subsequent Form 4s filed on and after March 1, 2024 underreported the number of shares beneficially owned by the reporting person by 495 shares.
F3	This portion of Restricted Stock Units vested on March 1, 2025, being the third anniversary of the grant date. These RSUs were granted on March 1, 2022 and vest 33% on the second anniversary of the grant date and 67% on the third anniversary of the grant date.
F4	This portion of Restricted Stock Units vested on March 1, 2025, being the third anniversary of the date of grant. These Restricted Stock Units were granted on March 1, 2022 and vest 25% on each of the first, second, third and fourth anniversaries of the grant date.
F5	This portion of Restricted Stock Units vested on March 1, 2025, being the first anniversary of the date of grant. These Restricted Stock Units were granted on March 1, 2024 and vest 25% on each of the first, second, third and fourth anniversaries of the grant date.
F6	On March 1, 2022, the reporting person was granted performance stock units (with a target amount of 2,655), each of which represents the right to receive one share of ORA common stock upon vesting (the "PSUs"). Pursuant to their terms, the PSUs are not deemed vested until they are both performance-vested and time-vested. The PSUs performance vest on the third anniversary of the grant date, in an amount (between 0% and 150% of target) based on the issuer's achievement of relative total stockholder return from the grant date until such third anniversary, and time vest 25% on each of the first, second, third and fourth anniversaries of the grant date, based on the reporting person's continued service.
F7	On March 1, 2025, the third anniversary of the grant date of the PSUs, 100% of the PSUs performance vested in the following amount based on the issuer's achievement of relative total stockholder return during the three-year performance period: 2,222. 75% of such PSUs were immediately paid out, as they were time-vested based on the reporting person's continued service since the grant date. The remaining 25% of such PSUs remain subject to time-vesting through the fourth anniversary of the grant date, and were thus represented as RSUs.