Ginzburg Assi 4

What Happened

• Assi Ginzburg, Chief Financial Officer of Ormat Technologies (ORA), reported the vesting/conversion of performance- and time-based equity awards on March 21, 2026. According to the Form 4, 6,611 performance stock units (PSUs) were paid out (acquired) and 2,205 PSUs were converted to restricted stock units (RSUs) that remain time‑vested. Additionally, 1,064 shares were recorded as disposed (derivative), consistent with shares surrendered/withheld in the settlement process. All transactions show $0 per share in the filing because these were compensatory awards/settlements, not open‑market purchases or sales.

Key Details

• Transaction date(s): March 21, 2026; Form 4 filed March 25, 2026.
• Amounts and types: +6,611 shares (PSUs paid out, code M/A), +2,205 shares (converted/granted as RSUs, code A), -1,064 shares (disposed, derivative, likely tax withholding).
• Price: $0.00 reported for these award/settlement transactions (compensation conversion, not a paid purchase).
• Shares owned after transaction: Not disclosed on the Form 4 summary provided.
• Notable footnotes:
  • RSUs granted March 21, 2023 vest 25% each anniversary (footnote F1).
  • PSUs granted March 21, 2023 vest based on performance (50% relative TSR; 50% MW capacity) and time (75% on year 3, 25% on year 4) (F2).
  • On March 21, 2026 the PSUs performance goals were met at the reported levels; 75% of PSUs were paid out (6,611), and the remaining 25% (2,205) remain as RSUs subject to time-vesting until the fourth anniversary (F3).
• Filing timeliness: Form 4 filed March 25, 2026 covering March 21 transactions (timeliness is noted on the filing).

Context

• These transactions reflect compensation plan vesting (performance- and time-based equity), not an open-market buy or sell driven by a discretionary trade. The disposal of 1,064 shares is consistent with shares withheld or surrendered to satisfy tax/settlement obligations common in equity settlements. Such vesting events are routine executive compensation events and do not by themselves signal the insider’s personal buying or selling intent.