Ormat (ORA) files Form 144 for $1.42M insider stock sale

Rhea-AI Filing Summary

Form 144 notice for ORMAT TECHNOLOGIES, INC. (ORA) reports a proposed sale of 14,994 common shares on 09/29/2025 through Morgan Stanley Smith Barney LLC on the NYSE. The aggregate market value of the shares is listed as $1,420,153.71 and the issuer’s outstanding shares are shown as 60,723,470. The shares were acquired the same day as Stock Appreciation Rights from the issuer and payment is noted as cash. The filer reports no securities sold in the past three months and attests to lack of undisclosed material adverse information.

Positive

• Required disclosure provided: The filing supplies broker, share count, aggregate value, and acquisition details, supporting regulatory transparency
• Transaction sourced from SARs: Shares were acquired via Stock Appreciation Rights from the issuer, not via undisclosed third-party transfers

Negative

• Insider sale: The filing notifies a proposed insider sale of $1,420,153.71 worth of common stock, which some investors may view negatively
• Concurrent acquisition and sale date: Both acquisition and proposed sale are dated 09/29/2025, which could prompt questions about timing

Insights

Securities Analyst

TL;DR Insider plans a modest sale of ORA shares worth about $1.42M; disclosure reduces information asymmetry.

The filing discloses a proposed sale of 14,994 common shares valued at $1,420,153.71 executed via Morgan Stanley Smith Barney on the NYSE. The shares stem from Stock Appreciation Rights granted and exercised on the same date, with cash payment recorded. Relative to total outstanding shares (60,723,470), this represents approximately 0.025% of the share base, suggesting limited immediate market impact. The filer confirms no other sales in the prior three months and certifies no undisclosed material adverse information.

Corporate Governance Expert

TL;DR Routine insider sale notice consistent with compliance; size appears immaterial to shareholders.

The Form 144 provides required notice for a proposed insider sale and identifies the broker, share count, aggregate value, and acquisition method (Stock Appreciation Rights). The contemporaneous acquisition and sale date are shown as 09/29/2025. The document includes the standard attestation regarding possession of material nonpublic information. There are no disclosures of prior three-month sales, litigation, or other governance concerns within this filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	14994	1420153.71	60723470	09/29/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/29/2025	Stock Appreciation Rights	ISSUER			14994	09/29/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does ORA Form 144 report?

The filing reports a proposed sale of 14,994 common shares of ORA valued at $1,420,153.71 to be sold on 09/29/2025 via Morgan Stanley Smith Barney LLC on the NYSE.

How were the ORA shares acquired that are being sold?

The shares were acquired on 09/29/2025 through Stock Appreciation Rights granted by the issuer, with payment noted as cash.

How large is the sale relative to ORA's outstanding shares?

The 14,994 shares represent approximately 0.025% of the reported 60,723,470 outstanding shares.

Did the filer report other sales in the past three months?

The filing states "Nothing to Report" for securities sold during the past three months by the person for whose account these securities are to be sold.

Who is the broker handling the sale?

The broker listed is Morgan Stanley Smith Barney LLC Executive Financial Services, 1 New York Plaza, 8th Floor, New York NY 10004.