Ormat Technologies (ORA) CFO reports PSU payout and new RSU vesting

Rhea-AI Filing Summary

ORMAT TECHNOLOGIES, INC. Chief Financial Officer Assi Ginzburg reported equity compensation activity tied to previously granted awards. On March 21, 2026, 1,064 restricted stock units vested, converting into 1,064 shares of common stock, and performance stock units granted on March 21, 2023 reached their performance vesting.

The performance stock units vested based on 75% achievement of the relative total stockholder return goal and 200% of the megawatt capacity goal. As a result, 6,611 performance stock units were paid out in common shares, while 2,205 units remain outstanding as restricted stock units, subject to time-based vesting through the fourth anniversary of the grant date.

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

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ginzburg Assi

(Last) (First) (Middle)

C/O ORMAT TECHNOLOGIES, INC.

6884 SIERRA CENTER PARKWAY

(Street)

RENO NEVADA 89511

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/21/2026

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

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

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

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	03/21/2026		M(1)		1,064	A	$0	10,576	D
Common Stock	03/21/2026		M(2)(3)		6,611	A	$0	17,187	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
Restricted Stock Units	(1)	03/21/2026		M			1,064	(1)	(1)	Common Stock	1,064	$0	1,064	D
Restricted Stock Units	(2)(3)	03/21/2026		A		2,205		(2)(3)	(2)(3)	Common Stock	2,205	$0	2,205	D

Explanation of Responses:

1. This portion of restricted stock units (the "RSUs") vested on March 21, 2026, being the third anniversary of the grant date. Each RSU represents the right to receive one share of ORA common stock upon vesting; these RSUs were granted on March 21, 2023, and vest 25% on each of the first, second, third and fourth anniversaries of the grant date.

2. On March 21, 2023, the reporting person was granted performance stock units (with a target amount of 6,413), 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, based on the issuer's achievement of the performance goals (50% relative total stockholder return ("relative TSR") and 50% megawatt capacity ("MW capacity")) between the grant date and such third anniversary, in certain amounts (between 0% and 150% of target on the relative TSR goals, and between 0% and 200% of target on the MW capacity goals), and time vest 75% on the third anniversary of the grant date, and 25% on the fourth anniversary, based on the reporting person's continued service.

3. On March 21, 2026, the third anniversary of the grant date of the PSUs, the PSUs performance vested, based on achievement of 75% on the relative TSR goals and 200% on the MW capacity goals. 75% (6,611 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% (2,205 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 RSUs. Each RSU represents the right to receive one share of ORA common stock upon vesting.

	/s/ Jessica Woelfel - as attorney-in-fact	03/24/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did ORA CFO Assi Ginzburg report on March 21, 2026?

Assi Ginzburg reported equity compensation-related transactions on March 21, 2026. These included vesting of 1,064 restricted stock units into common shares and payout of 6,611 performance stock units in shares, plus 2,205 units remaining as time-based restricted stock units.

Were the ORA insider transactions open-market buys or sells?

The transactions were not open-market buys or sells; they were equity compensation events. Restricted stock units and performance stock units vested and converted into common shares, reflecting previously granted awards rather than discretionary purchases or sales in the open market.

How many Ormat Technologies (ORA) performance stock units vested for the CFO?

On March 21, 2026, performance stock units granted on March 21, 2023 became performance-vested. Based on goal achievement, 6,611 performance stock units were immediately paid out in common stock, while 2,205 units remain as restricted stock units subject to continued service.

What performance goals affected the ORA CFO’s PSUs granted in 2023?

The performance stock units were tied 50% to relative total stockholder return and 50% to megawatt capacity. On March 21, 2026, they performance-vested based on 75% achievement of the relative TSR goals and 200% achievement of the megawatt capacity goals disclosed in the award terms.

How many Ormat Technologies (ORA) restricted stock units remain unvested for the CFO?

Following the March 21, 2026 events, 2,205 units remain as restricted stock units. These RSUs are scheduled to time-vest on the fourth anniversary of the March 21, 2023 grant date, contingent on the CFO’s continued service with the company.

What does the Form 4 reveal about the CFO’s Ormat common stock position after vesting?

The Form 4 shows Assi Ginzburg holding 17,187 shares of Ormat common stock directly after the reported conversions. In addition, 2,205 restricted stock units remain outstanding, each representing the right to receive one share upon future time-based vesting.