Benyosef Ofer 4

What Happened

• Benyosef Ofer, EVP, Energy Storage & Business Development at Ormat (ORA), had performance stock units (PSUs) performance‑vest and be paid out on March 21, 2026. The filing shows 3,888 shares were acquired (paid out) from PSUs and 1,296 PSUs were converted to restricted stock units (RSUs) that remain time‑vested. The transactions are reported at $0 per share (no cash purchase or sale recorded).
• The Form 4 also lists two small derivative conversion/settlement line items of 626 shares each (one acquired and one disposed) reported at $0; the filing does not provide additional detail explaining those specific 626‑share lines.

Key Details

• Transaction date(s): March 21, 2026 (period of report); Form 4 filed March 25, 2026.
• Prices and values: All transactions reported at $0.00 per share (no cash paid/received in these entries).
• Specific counts: 3,888 PSUs paid out (converted to shares), 1,296 PSUs converted to RSUs (remain time‑vested), plus two 626‑share derivative conversion/disposition line items at $0.
• Shares owned after transaction: Not provided in the excerpt of the filing.
• Footnotes of note:
  • PSUs were originally granted March 21, 2023 with a target amount (see F2). Performance testing on the third anniversary produced an aggregate payout equal to 5,184 PSUs (result of performance multipliers), of which 75% (3,888) were time‑vested and paid out immediately and 25% (1,296) remain subject to additional time vesting (F2, F3).
  • A separate RSU tranche vested (per F1) on March 21, 2026 as the third anniversary of a March 21, 2023 RSU grant; each RSU equals one share upon vesting.
• Filing timeliness: Form filed March 25, 2026 reporting March 21, 2026 activity; the filing does not indicate any late‑filing notation in the provided excerpt.

Context

• These entries reflect equity compensation vesting and conversion of performance units into shares/RSUs rather than an open‑market buy or sale. That means no cash purchase (bullish signal) or sale (liquidity event) is directly shown in these lines—transactions are internal settlements of award units.
• The 626‑share converted and 626‑share disposed derivative lines are reported at $0 and are not explained in the footnotes provided; such lines can represent net settlement or withholding mechanics in some filings, but the Form 4 here does not specify the reason.