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