Ormat (NYSE: ORA) EVP gains shares as PSUs vest and RSUs granted
Rhea-AI Filing Summary
Ormat Technologies EVP Energy Storage & BD Benyosef Ofer reported equity compensation activity centered on performance stock units and restricted stock units. On March 21, 2026, 626 restricted stock units vested, converting into 626 shares of common stock. Following this, he directly held 5,044 common shares from that transaction and 626 restricted stock units tied to that vesting cycle.
On the same date, performance stock units granted on March 21, 2023 performance vested based on achieving 75% of relative total stockholder return goals and 200% of megawatt capacity goals. As a result, 3,888 performance stock units were immediately paid out in common stock, bringing direct common stock holdings reported after this transaction to 8,932 shares. The remaining 1,296 performance stock units became time-vesting restricted stock units, representing the right to receive one share of common stock per unit upon future vesting.
Positive
- None.
Negative
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Insights
All activity reflects equity compensation vesting and grants, not open‑market trading.
The transactions show Benyosef Ofer receiving equity through vesting and conversion of awards granted in 2023. A block of 626 restricted stock units vested into common shares, and performance stock units converted into shares and new restricted stock units based on disclosed performance outcomes.
The filing indicates strong achievement of performance metrics, with 75% of relative TSR goals and 200% of megawatt capacity goals met, triggering 3,888 shares to be paid out and 1,296 units shifting into time-based vesting. These are routine compensation-related events with no share sales or tax-withholding dispositions reported, so the investment thesis impact is limited.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 626 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 1,296 | $0.00 | -- |
| Exercise | Common Stock | 626 | $0.00 | -- |
| Exercise | Common Stock | 3,888 | $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 3,772), 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% (3,888 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% (1,296 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.
