ORA Insider Filing: Byron Wong Exercises SARs and Completes Open-Market Sales
Rhea-AI Filing Summary
Ormat Technologies insider activity: Director Byron G. Wong exercised Stock Appreciation Rights (SARs) on 08/18/2025. He exercised 1,210 SARs expiring 11/06/2025 and 1,315 SARs expiring 11/04/2026. From the first exercise he received 1,210 shares, surrendered 1,018 shares to cover the exercise price and sold 192 shares in the open market at $91.395 per share. From the second exercise he received 1,315 shares, surrendered 972 shares and sold 343 shares at $91.395. The SAR grant prices were $76.87 and $67.54.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine exercise and partial sale of SARs by a director; no new reported holdings beyond post-transaction totals.
This Form 4 reports exercise of two SAR tranches totaling 2,525 SARs on 08/18/2025 with partial dispositions to cover exercise costs and open-market sales. The reporting person retained post-transaction beneficial ownership reported at 9,869 and 9,974 shares at different steps, with final reported beneficial holdings shown as 8,659 shares in multiple lines. The filing is a routine disclosure of compensation-derived share receipt and immediate sales; it does not include additional derivative holdings after exercise.
TL;DR: Director exercised vested SARs and completed required reporting; transactions appear to follow standard plan mechanics.
The filing documents exercises of SARs from 2020 and 2021 grants with specified grant prices and expiration dates. Transactions include surrendering shares to cover exercise obligations and open-market sales executed the same day. The Form 4 is signed by an attorney-in-fact and provides the required explanations for the mechanics of the exercises and disposals. No indications of atypical timing or procedural irregularities are presented in the text.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Appreciation Rights (SARs) | 1,210 | $0.00 | -- |
| Exercise | Stock Appreciation Rights (SARs) | 1,315 | $0.00 | -- |
| Exercise | Common Stock | 1,210 | $76.87 | $93K |
| Disposition | Common Stock | 1,018 | $91.395 | $93K |
| Sale | Common Stock | 192 | $91.395 | $18K |
| Exercise | Common Stock | 1,315 | $67.54 | $89K |
| Disposition | Common Stock | 972 | $91.395 | $89K |
| Sale | Common Stock | 343 | $91.395 | $31K |
Footnotes (1)
- Represents the exercise of Stock Appreciation Rights ("SARs") expiring on November 6, 2025, for which the reporting person exercised all 1,210 shares, disposed of 1,018 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 192 shares acquired upon exercise in the open market on August 18, 2025. Represents the exercise of SARs expiring on November 4, 2026, for which the reporting person exercised all 1,315 shares, disposed of 972 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 343 shares in the open market on August 18, 2025. Each SAR represents the right to receive shares of ORA common stock with a value equal to the amount by which the market value of the shares in respect of which the SAR is exercised exceeds the grant price set forth in the SAR, multiplied by the number of shares in respect of which the SAR is exercised.
