Form 4 for ORA ORMAT TECHNOLOGIES, INC.
Accepted 2023-07-03 00:00:00 ET · period of report 2023-07-01 · accession 0001437749-23-019243 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2023-07-03 | 2023-07-01 | ORA | Blachar Doron | CEO | M - OptEx | $0.00 | +4,448 | 16.4K | +37% | $0 |
| DM | 2023-07-03 | 2023-07-01 | ORA | Blachar Doron | CEO | M - OptEx | $0.00 | -7,064 | 0 | -100% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock, par value $0.001 per share | 2023-07-01 | M | A | 1,505 | $0.00 | 17,934 | D | — | — | |
| 2 | Common | Common Stock, par value $0.001 per share | 2023-07-01 | M | A | 2,943 | $0.00 | 16,429 | D | — | — | |
| 3 | Derivative | Restricted Stock Units | 2023-07-01 | M | D | 1,505 | $0.00 | 1,505 | D | — · — to — | 1,505 Common Stock, par value $0.001 per share | (F3) In addition to the PSUs, the reporting person was granted 6,020 time-vesting RSUs on July 1, 2020. Each RSU represents the right to receive one share of ORA common stock upon vesting. 25% of these time-vesting RSUs vested on July1, 2023, the third-year anniversary of the date of grant. The remaining 25% of which will vest on the fourth anniversary of the grant date, based on the reporting person's continued service. |
| 4 | Derivative | Restricted Stock Units | 2023-07-01 | M | A | 981 | $0.00 | 4,448 | D | — · — to — | 981 Common Stock, par value $0.001 per share | (F2) On July 1, 2023, 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: 3,924. 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 until the fourth anniversary of the grant date, based on the reporting person's continued service, and are thus represented as restricted stock units ("RSUs"). Each RSU represents the right to receive one share of ORA common stock upon vesting. |
| 5 | Derivative | Performance Stock Units | 2023-07-01 | M | D | 6,540 | $0.00 | 0 | D | — · — to — | 6,540 Common Stock, par value $0.001 per share | (F1) On July 1, 2020, the reporting person was granted performance stock units (with a target amount of 6,540), 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 50% on the second anniversary of the grant date and 25% on each of the third and fourth anniversaries of the grant date, based on the reporting person's continued service. |