Ormat (ORA) CEO gains stock through RSU vesting and new grant

Rhea-AI Filing Summary

ORMAT TECHNOLOGIES, INC. Chief Executive Officer Doron Blachar reported multiple equity compensation transactions dated March 1, 2026. Several tranches of Restricted Stock Units (including performance-based units) vested and were converted into shares of common stock at a price of $0.00 per share, consistent with equity award terms. In addition, he received a new grant of 12,653 time-vesting RSUs scheduled to vest in three annual installments. Following these conversions, Blachar directly owned 46,483 shares of Ormat common stock and held the new RSU award.

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^*

Blachar Doron

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

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

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	03/01/2026		M(1)(2)		805	A	$0	36,224	D
Common Stock	03/01/2026		M(1)(3)		5,139	A	$0	41,363	D
Common Stock	03/01/2026		M(1)(4)		3,871	A	$0	45,234	D
Common Stock	03/01/2026		M(1)(5)		1,249	A	$0	46,483	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)(2)	03/01/2026		M			805	(2)	(2)	Common Stock	805	$0	0	D
Restricted Stock Units	(1)(3)	03/01/2026		M			5,139	(3)	(3)	Common Stock	5,139	$0	5,140	D
Restricted Stock Units	(1)(4)	03/01/2026		M			3,871	(4)	(4)	Common Stock	3,871	$0	7,742	D
Restricted Stock Units	(1)(5)	03/01/2026		M			1,249	(5)	(5)	Common Stock	1,249	$0	0	D
Restricted Stock Units	(1)(6)	03/01/2026		A		12,653		(6)	(6)	Common Stock	12,653	$0	12,653	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents the right to receive one share of ORA common stock upon vesting.

2. This portion of RSUs vested on March 1, 2026, being the fourth anniversary of the grant date. These RSUs were granted on March 1, 2022, and vest 25% on each of the first, second, third and fourth anniversaries of the grant date.

3. This portion of RSUs vested on March 1, 2026, being the second anniversary of the date of grant. These RSUs vest 33.33% on the first and second anniversary of the grant date and will vest 33.34% on the third anniversary of the grant date.

4. This portion of RSUs vested on March 1, 2026, being the first anniversary of the date of grant. These RSUs vest 33.33% on the first and second anniversary of the grant date and will vest 33.34% on the third anniversary of the grant date.

5. These PSUs were granted on March 1, 2022, and earned based on achievement of certain performance criteria, as previously reported on the reporting person's Form 4 filed on March 4, 2025. This represents the fourth and final vesting installment, which vested and was paid out on March 1, 2026.

6. In addition, the reporting person was granted 12,653 time-vesting RSUs on March 1, 2026. 33.3% of these time-vesting RSUs vest on the first and second anniversary of the grant date and 33.34% on the third anniversary of the grant date.

	/s/ Jessica Woelfel, as attorney-in-fact	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did Ormat (ORA) CEO Doron Blachar report?

Doron Blachar reported several equity compensation transactions involving Restricted Stock Units and performance-based stock units vesting on March 1, 2026. These awards converted into Ormat common shares at $0.00 per share, reflecting standard equity award settlement rather than open-market purchases or sales.

How many Ormat (ORA) shares does the CEO own after these Form 4 transactions?

After the reported transactions, Chief Executive Officer Doron Blachar directly owned 46,483 shares of Ormat common stock. This figure reflects the shares received from vested Restricted Stock Units and performance-based units converted on March 1, 2026, according to the Form 4 filing data.

Did the Ormat (ORA) CEO receive a new RSU grant in this Form 4?

Yes. Doron Blachar received a new grant of 12,653 time-vesting Restricted Stock Units on March 1, 2026. According to the award terms, 33.3% vest on each of the first and second anniversaries and 33.34% on the third anniversary of the grant date.

Were the Ormat (ORA) CEO’s Form 4 transactions open-market buys or sells?

No. The transactions reflect exercises and conversions of Restricted Stock Units and performance-based stock units at a price of $0.00 per share, plus a new RSU grant. They are equity award-related actions, not open-market purchases or sales of Ormat common stock.

What performance-based units vested for Ormat (ORA) CEO Doron Blachar?

Some reported units were performance stock units granted March 1, 2022 and earned based on specific performance criteria. The filing notes this Form 4 reflects the fourth and final vesting installment, which vested and was paid out on March 1, 2026, completing that PSU award.