Ormat Technologies (ORA) EVP Ofer exercises SARs, sells 9,429 shares under 10b5-1 plan
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
ORMAT TECHNOLOGIES, INC. executive vice president Benyosef Ofer reported a combination of stock option–style exercises and share sales in company common stock. He exercised 1,101 Stock Appreciation Rights with an exercise price of $71.15 per share, which resulted in 499 shares of common stock being issued and 602 shares effectively returned to the issuer as part of the SAR settlement mechanics. On the same date, he sold 9,429 shares of common stock in open-market transactions at $131.02 per share under a pre-arranged Rule 10b5-1 trading plan, and after these transactions he no longer directly holds Ormat common stock.
Positive
- None.
Negative
- None.
Insights
Pre-planned SAR exercise and sale; routine liquidity, neutral signal.
The filing shows Benyosef Ofer exercised 1,101 Stock Appreciation Rights at an exercise price of $71.15, yielding 499 common shares while 602 shares were retained by the issuer per the SAR formula. This is a standard equity compensation settlement structure.
He then sold 9,429 common shares at $131.02 per share in open-market trades pursuant to a pre-established Rule 10b5-1 trading plan. Such plans automate sales over time, so the timing carries limited informational value about his view of the stock.
After these transactions, his directly held common stock position is reported as zero, but the filing shows no remaining derivative positions from this SAR grant. Future company disclosures may clarify any new grants or holdings, yet this specific activity appears as planned liquidity rather than an abrupt change.
Insider Trade Summary 10b5-1
Net Seller: 9,429 shares ($1,235,388)
Net Sell
4 txns
Insider
Benyosef Ofer
Role
EVP, Energy Storage & BD
Sold
9,429 shs ($1.24M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Appreciation Rights | 0 | $0.00 | -- |
| Exercise | Common Stock | 1,101 | $71.15 | $78K |
| Disposition | Common Stock | 602 | $131.02 | $79K |
| Sale | Common Stock | 9,429 | $131.02 | $1.24M |
Holdings After Transaction:
Stock Appreciation Rights — 0 shares (Direct, null);
Common Stock — 10,031 shares (Direct, null)
Footnotes (1)
- This represents the exercise of Stock Appreciation Rights ("SAR") expiring on 03/01/2028, for which the reporting person exercised 1,101 shares; the reporting previously exercised 3,300 shares on November 5, 2025. This Form 4 reports pre-transaction beneficial ownership of 8,930 shares of Common Stock, which differs by 2 shares from the post-transaction beneficial ownership total reported on the filer's most recent prior Form 4 filed on March 24, 2026. This discrepancy is attributable to a rounding / calculation error, and does not reflect any unreported acquisition or disposition of securities. The correct pre-transaction total is 8,930 shares as reported herein. This represents the difference between the number of SARs exercised (1,101) and the number of shares issued as a result of the exercise (499). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the market value on the date of exercise ($131.02) and the exercise price ($71.15). Represents shares of common stock sold in the open market on May 13, 2026 pursuant to a 10b5-1 Plan adopted by the reporting person on 06/26/2025, Modified 12/12/2025.
Key Figures
Shares sold: 9,429 shares
Sale price: $131.02 per share
SARs exercised: 1,101 Stock Appreciation Rights
+5 more
8 metrics
Shares sold
9,429 shares
Open-market sale of common stock at $131.02 per share on May 13, 2026
Sale price
$131.02 per share
Price for 9,429 common shares sold in open-market transactions
SARs exercised
1,101 Stock Appreciation Rights
Exercised with $71.15 exercise price, linked to common stock
SAR exercise price
$71.15 per share
Exercise price of Stock Appreciation Rights expiring March 1, 2028
Shares issued from SARs
499 shares
Common shares issued upon exercise of 1,101 SARs per footnote explanation
Shares returned to issuer
602 shares
Difference between SARs exercised and shares issued under SAR formula
Pre-transaction holdings
8,930 shares
Corrected pre-transaction beneficial ownership of Ormat common stock
Post-transaction direct holdings
0 shares
Common stock directly owned after reported sale and SAR exercise
Key Terms
Stock Appreciation Rights, SAR exercise, Rule 10b5-1 Plan, beneficial ownership, +1 more
5 terms
Stock Appreciation Rights financial
"This represents the exercise of Stock Appreciation Rights ("SAR") expiring on 03/01/2028"
Stock appreciation rights (SARs) are a form of employee compensation that give the holder the right to receive the increase in a company's stock price over a set baseline, paid in cash or shares, without having to buy the stock. For investors, SARs matter because they can create future cash outflows or share dilution and signal how a company rewards and motivates executives — similar to giving a bonus tied directly to how well the company’s stock performs.
SAR exercise financial
"the reporting person exercised 1,101 shares; the reporting previously exercised 3,300 shares"
Rule 10b5-1 Plan financial
"sold in the open market on May 13, 2026 pursuant to a 10b5-1 Plan"
A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.
beneficial ownership financial
"reports pre-transaction beneficial ownership of 8,930 shares of Common Stock"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
FAQ
What did Ormat Technologies (ORA) executive Benyosef Ofer report in this Form 4?
Benyosef Ofer reported exercising 1,101 Stock Appreciation Rights in Ormat Technologies common stock and selling 9,429 shares at $131.02 per share. These open-market sales were made pursuant to a pre-arranged Rule 10b5-1 trading plan adopted and later modified before the transactions.
What Stock Appreciation Rights did Benyosef Ofer exercise in Ormat (ORA)?
He exercised 1,101 Stock Appreciation Rights with an exercise price of $71.15 per share, linked to Ormat common stock. The exercise produced 499 shares issued to him, while 602 shares represented the difference retained by the issuer under the SAR cashless-settlement formula described in the filing footnotes.
Was Benyosef Ofer’s Ormat (ORA) stock sale under a Rule 10b5-1 plan?
Yes. The filing states the 9,429 Ormat common shares were sold under a Rule 10b5-1 trading plan adopted June 26, 2025 and modified December 12, 2025. Such plans schedule trades in advance, reducing the importance of short-term price timing in interpreting insider activity.
What are Benyosef Ofer’s Ormat (ORA) common stock holdings after these transactions?
Following the reported transactions, Benyosef Ofer’s directly held Ormat common stock position is shown as zero shares. Before the activity, the filing notes corrected pre-transaction beneficial ownership of 8,930 shares, clarifying a small rounding discrepancy in an earlier Form 4 filing.