Woelfel Jessica 4

What Happened

• Jessica Woelfel, General Counsel, Chief Compliance Officer and Corporate Secretary of Ormat Technologies (ORA), had performance stock units (PSUs) and restricted stock units (RSUs) vest on March 21, 2026. She received 3,500 shares from performance-vested PSUs (no cash cost), 563 shares from vested RSUs, and 1,168 shares remained as RSUs (continue to time-vest).
• To satisfy tax withholding related to the vesting, 563 vested units were surrendered (derivative disposition at $0) and 136 shares were sold in the open market on March 24, 2026 at $107.79 per share, generating $14,659.

Key Details

• Transaction dates: March 21, 2026 (vest/convert/award), March 24, 2026 (open-market sale).
• Open-market sale: 136 shares at $107.79, proceeds $14,659 (sell-to-cover for tax withholding).
• Derivative/awards: 3,500 PSUs paid out (performance- and time-vested), 1,168 PSUs converted to RSUs (remain time-vested until Mar 21, 2027), and 563 RSUs vested and converted to shares.
• Shares surrendered: 563 shares shown as disposed (derivative) at $0 to satisfy withholding per the award agreement.
• Shares owned after transaction: not specified in the filing.
• Notable footnotes: performance vesting achieved (75% on relative TSR and 200% on MW capacity); the open-market sale was an automatic, non‑discretionary sell-to-cover mandated by the award agreement.

Context

• This was largely an award/vesting event (A and M codes) rather than a voluntary market buy or discretionary sell; the small open‑market sale was automatic to cover taxes, a common administrative outcome of RSU/PSU vesting.
• Derivative entries reflect conversion of award units into common shares (exercise/conversion of PSUs/RSUs), not a paid option purchase.