Blachar Doron 4

What Happened

• Doron Blachar, CEO of Ormat Technologies (ORA), had performance and time‑based equity awards vest on March 21, 2026. Specifically, 13,999 performance stock units (PSUs) were performance‑ and time‑vested and were converted into common shares (no cash exercise price). Separately, 2,252 restricted stock units (RSUs) vested and converted into shares.
• Of the shares delivered, 2,252 shares were disposed/withheld (reported as disposed) to cover tax withholding. Per the filing footnotes, 4,667 PSUs did not become immediately deliverable and remain as RSUs subject to time‑vesting until the fourth anniversary of the grant.
• All reported conversions/vests were at $0.00 per share (typical for vested RSUs/PSUs). Gross delivered = 16,251 shares (13,999 PSUs + 2,252 RSUs); after withholding, net newly received shares = 13,999.

Key Details

• Transaction date(s): March 21, 2026; Form 4 filed March 25, 2026 (Accession 0001437749-26-009679). Reported price: $0.00 per share (vesting/conversion).
• Shares owned after transaction: not provided in the supplied extract of the filing.
• Footnotes: F1 — 3rd‑anniversary vesting of RSUs granted 3/21/2023 (25% each year). F2 — PSUs granted 3/21/2023 vest on performance + time conditions. F3 — PSUs performance‑vested on 3/21/2026 (75% relative TSR achievement and 200% MW capacity achievement); 13,999 PSUs paid out, 4,667 remain time‑vested as RSUs.
• Withholding/tax treatment: 2,252 vested RSU shares were withheld/disposed to cover taxes (routine).
• Filing timeliness: filing dated 3/25/2026 reporting 3/21/2026 transactions (no late‑filing flag shown in provided data).

Context

• PSUs/RSUs are equity awards that convert to shares upon achievement of performance and/or continued service; the M (exercise/conversion) and A (award/grant) codes reflect those conversions/award events, not open‑market trades. Vesting and withholding are routine and do not necessarily signal the insider buying or selling stock in the market.
• Net immediate increase in beneficially owned shares due to these events appears to be 13,999 shares (gross 16,251 delivered less 2,252 withheld). The remaining 4,667 PSUs remain subject to time vesting and will only convert to shares if service continues to the fourth anniversary.