0001437749-23-017579.txt : 20230615
0001437749-23-017579.hdr.sgml : 20230615
20230615170023
ACCESSION NUMBER: 0001437749-23-017579
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20230615
FILED AS OF DATE: 20230615
DATE AS OF CHANGE: 20230615
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Argas Shlomi
CENTRAL INDEX KEY: 0001614382
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-32347
FILM NUMBER: 231018229
MAIL ADDRESS:
STREET 1: 6225 NEIL ROAD
CITY: RENO
STATE: NV
ZIP: 89511
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ORMAT TECHNOLOGIES, INC.
CENTRAL INDEX KEY: 0001296445
STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911]
IRS NUMBER: 880326081
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 6140 PLUMAS STREET
CITY: RENO
STATE: NV
ZIP: 89519-6075
BUSINESS PHONE: 775-356-9029
MAIL ADDRESS:
STREET 1: 6140 PLUMAS STREET
CITY: RENO
STATE: NV
ZIP: 89519-6075
4
1
rdgdoc.xml
FORM 4
X0407
4
2023-06-15
0001296445
ORMAT TECHNOLOGIES, INC.
ORA
0001614382
Argas Shlomi
C/O ORMAT TECHNOLOGIES, INC.
6140 PLUMAS ST
RENO
NV
89519-6075
1
President
0
Common Stock, par value $0.001 per share
2023-06-15
4
M
0
1190
0
A
7917
D
Common Stock, par value $0.001 per share
2023-06-15
4
M
0
690
0
A
8607
D
Performance Stock Units
2023-06-15
4
M
0
2885
0
D
Common Stock, par value $0.001 per share
2885
0
D
Restricted Stock Units
2023-06-15
4
M
0
397
0
A
Common Stock, par value $0.001 per share
397
397
D
Restricted Stock Units
2023-06-15
4
M
0
690
0
D
Common Stock, par value $0.001 per share
690
690
D
On June 15, 2020, the reporting person was granted performance stock units (with a target amount of 2,885), 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.
On June 15, 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: 1,587. 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.
In addition to the PSUs, the reporting person was granted 2,760 time-vesting RSUs on June 15, 2020. Each RSU represents the right to receive one share of ORA common stock upon vesting. 25% of these time-vesting RSUs vested on June 15, 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.
/s/ Ehud Ben Yemini, as attorney-in-fact
2023-06-15