[Form 4/A] ORMAT TECHNOLOGIES, INC. Amended Insider Trading Activity

Rhea-AI Filing Summary

David Granot, a director of Ormat Technologies (ORA), exercised 1,210 Stock Appreciation Rights (SARs) on 08/21/2025. Upon exercise he delivered 1,011 shares back to the issuer to cover the exercise price and sold the remaining 199 shares in the open market the same day. The Form 4/A amends a prior Form 4 filed 08/25/2025 to correct an administrative error: the previously reported post-transaction beneficial ownership amounts were overstated by 838 shares and have been reduced accordingly. The SARs exercised had a grant price of $76.87 and expire on 11/06/2025.

Positive

• Exercise and sale disclosed: The reporting person exercised SARs and disclosed both the shares surrendered to the issuer and those sold in the open market.
• Amendment improves accuracy: The Form 4/A corrects an administrative error by reducing previously reported beneficial ownership by 838 shares, increasing disclosure accuracy.

Negative

• Prior overstatement: The original Form 4 overstated beneficial ownership by 838 shares, indicating an administrative reporting error that required correction.

Insights

Financial Analyst

TL;DR: Director exercised SARs and sold a portion; amendment fixes an administrative overstatement of holdings.

The exercise of 1,210 SARs with 1,011 shares surrendered to the issuer to cover the exercise cost and 199 shares sold in the open market is a routine liquidity and tax-related insider action rather than a strategic corporate event. The amendment reducing previously reported beneficial ownership by 838 shares appears administrative and does not create new economic exposure. The transactions are modest relative to typical outstanding share counts for public companies and do not by themselves indicate a change in company fundamentals.

Corporate Governance Expert

TL;DR: Disclosure corrected promptly; the filing shows standard insider exercise and sale to cover costs.

The filing shows compliance with Section 16 reporting through an amended Form 4. Correcting an overstatement in prior reporting is important for transparency; the amendment clarifies beneficial ownership but reflects an administrative error rather than substantive governance change. The signature by an attorney-in-fact on 09/22/2025 finalizes the amendment filing.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Granot David

(Last) (First) (Middle)

C/O ORMAT TECHNOLOGIES, INC.

6884 SIERRA CENTER PARKWAY

(Street)

RENO NV 89511

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ORMAT TECHNOLOGIES, INC. [ ORA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
08/25/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/21/2025		M(1)(2)		1,210	A	$76.87	2,851(3)	D
Common Stock	08/21/2025		D(1)(2)		1,011	D	$92.435	1,840(3)	D
Common Stock	08/21/2025		S(1)(2)		99	D	$92.44	1,741(3)	D
Common Stock	08/21/2025		S(1)(2)		100	D	$92.43	1,641(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Appreciation Rights (SARs)	$76.87	08/21/2025		M			1,210	11/07/2020	11/06/2025	Common Stock	1,210	$0	0	D

Explanation of Responses:

1. Represents the exercise of Stock Appreciation Rights ("SARs") expiring on November 6, 2025, for which the reporting person exercised all 1,210 shares, disposed of 1,011 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 199 shares acquired upon exercise in the open market on August 21, 2025.

2. Each SAR represents the right to receive shares of ORA common stock with a value equal to the amount by which the market value of the shares in respect of which the SAR is exercised exceeds the grant price set forth in the SAR, multiplied by the number of shares in respect of which the SAR is exercised.

3. The Reporting Person is amending the Form 4 filed August 25, 2025, which, due to administrative error, inadvertently overstated the Amount of Securities Beneficially Owned (Table I, Box 5) following each of the previously reported transactions by 838 shares. This amendment corrects the Amount of Securities Beneficially Owned (Table I, Box 5) following each of the previously reported transactions to reflect an 838 decrease in the number of shares following each such transaction.

	/s/ Jessica Woelfel - as attorney-in-fact	09/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did David Granot report on Form 4/A for ORA?

The filing reports the exercise of 1,210 SARs on 08/21/2025, with 1,011 shares surrendered to the issuer to cover the exercise price and 199 shares sold in the open market.

Why was the Form 4 amended (Form 4/A)?

The amendment corrects an administrative error in the prior Form 4 by reducing the previously reported post-transaction beneficial ownership amounts by 838 shares.

What was the grant/exercise price of the SARs?

The SARs had a grant price of $76.87 and the exercise occurred on 08/21/2025.

How many shares remained beneficially owned after the transactions?

The Form I entries list post-transaction beneficial ownership numbers in Table I; the amendment states each previously reported amount was decreased by 838 shares to correct the totals.

Who signed the amended Form 4 and when?

The Form 4/A was signed by Jessica Woelfel as attorney-in-fact on 09/22/2025.