Ormat Technologies (ORA) GC reports RSU and PSU vesting plus tax sell
Rhea-AI Filing Summary
ORMAT TECHNOLOGIES, INC. general counsel, chief compliance officer, and corporate secretary Jessica Woelfel reported equity compensation activity and a small related share sale. On March 21, 2026, 563 restricted stock units vested, each converting into one share of common stock. On the same date, performance stock units granted on March 21, 2023 performance-vested based on 75% achievement of relative total stockholder return goals and 200% achievement of megawatt capacity goals, leading to an immediate payout of 3,500 shares, with the remaining 1,168 units continuing as RSUs subject to time-based vesting.
Following these transactions, Woelfel held 7,496 shares of common stock directly before a subsequent automatic sell-to-cover transaction. On March 24, 2026, 136 shares of common stock were sold in the open market at a price of $107.79 per share as a non-discretionary sale mandated by the award agreement to satisfy tax withholding obligations tied to the March 21 vesting events. After this small sale, her direct common stock holdings were 7,360 shares.
Positive
- None.
Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 136 | $107.79 | $15K |
| Exercise | Restricted Stock Units | 563 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 1,168 | $0.00 | -- |
| Exercise | Common Stock | 563 | $0.00 | -- |
| Exercise | Common Stock | 3,500 | $0.00 | -- |
Footnotes (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. On March 21, 2023, the reporting person was granted performance stock units (with a target amount of 3,395), 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. 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% (3,500 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% (1,168 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. Represents shares of common stock sold in the open market on March 24, 2026, as part of an automatic sell-to-cover transaction, which was non-discretionary and mandated by the applicable award agreement, in order to satisfy the reporting person's tax withholding obligations in connection with the vesting of RSUs on March 21, 2026.
