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Ormat Director's Stock Sales Signal Notable Insider Activity at Clean Energy Firm

Filing Impact
(Moderate)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Dafna Sharir, Director at Ormat Technologies (NYSE: ORA), executed multiple transactions on June 20, 2025, involving Stock Appreciation Rights (SARs) and common stock:

  • Exercised 1,210 SARs at $76.87 (expiring Nov 2025) and 1,315 SARs at $67.54 (expiring Nov 2026)
  • Disposed of 2,124 shares to cover exercise prices
  • Sold 401 shares from SAR exercises in open market
  • Additionally sold 1,200 shares in open market at average price of $85.58

Following these transactions, Sharir's direct ownership decreased to 3,238 shares from an initial position of 5,648 shares. The transactions represent a significant reduction in the director's equity stake, with sales occurring at market prices ranging from $85.36 to $85.81 per share.

Positive

  • None.

Negative

  • Director Dafna Sharir exercised and sold all SARs holdings (2,525 shares) plus an additional 1,200 shares, reducing total position by approximately 48% from 6,638 to 3,238 shares
Insider SHARIR DAFNA
Role Director
Sold 1,601 shs ($137K)
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 1,089 $85.36 $93K
Sale Common Stock 121 $85.67 $10K
Exercise Common Stock 1,315 $67.54 $89K
Disposition Common Stock 1,035 $85.78 $89K
Sale Common Stock 280 $85.81 $24K
Sale Common Stock 1,200 $85.5802 $103K
Holdings After Transaction: Stock Appreciation Rights (SARS) — 0 shares (Direct); Common Stock — 5,648 shares (Direct)
Footnotes (1)
  1. Represents the exercise of Stock Appreciation Rights (SARS) expiring on November 06, 2025, for which the reporting person exercised all 1,210 shares, disposed of 1,089 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 121 shares acquired upon exercise in the open market on June 20, 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. Represents the exercise of SARS expiring on November 04, 2026, for which the reporting person exercised all 1,315 shares, disposed of 1,035 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 280 shares in the open market on June 20, 2025. Represents shares of common stock sold in the open market on June 20, 2025.
Form 4 Insider Transactions: What Each Field Means →
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
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
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*
SHARIR DAFNA
(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)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
06/20/2025
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 06/20/2025 M(1) 1,210 A $76.87 5,648 D
Common Stock 06/20/2025 D(1) 1,089 D $85.36 4,559 D
Common Stock 06/20/2025 S(1) 121 D $85.67 4,438 D
Common Stock 06/20/2025 M(2) 1,315 A $67.54 5,753 D
Common Stock 06/20/2025 D(2) 1,035 D $85.78 4,718 D
Common Stock 06/20/2025 S(2) 280 D $85.81 4,438 D
Common Stock 06/20/2025 S(3) 1,200 D $85.5802 3,238 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
Stock Appreciation Rights (SARS) $76.87 06/20/2025 M 1,210 11/07/2020 11/06/2025 Common Stock 1,210 $0 0 D
Stock Appreciation Rights (SARS) $67.54 06/20/2025 M 1,315 11/04/2021 11/04/2026 Common Stock 1,315 $0 0 D
Explanation of Responses:
1. Represents the exercise of Stock Appreciation Rights (SARS) expiring on November 06, 2025, for which the reporting person exercised all 1,210 shares, disposed of 1,089 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 121 shares acquired upon exercise in the open market on June 20, 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.
2. Represents the exercise of SARS expiring on November 04, 2026, for which the reporting person exercised all 1,315 shares, disposed of 1,035 shares to the issuer to cover the exercise price of the SARs, and sold the remaining 280 shares in the open market on June 20, 2025.
3. Represents shares of common stock sold in the open market on June 20, 2025.
/s/ Jessica Woelfel - as attorney-in-fact 06/24/2025
** 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.

Source: View Original Filing on SEC EDGAR

FAQ

How many ORA shares did Director Dafna Sharir sell on June 20, 2025?

Director Dafna Sharir sold a total of 1,601 shares on June 20, 2025, consisting of 121 shares at $85.67, 280 shares at $85.81, and 1,200 shares at $85.5802 per share. These transactions were a combination of open market sales and dispositions related to SAR exercises.

What was the exercise price of ORA's Stock Appreciation Rights (SARs) that Dafna Sharir exercised?

Dafna Sharir exercised two sets of Stock Appreciation Rights (SARs): 1,210 SARs with an exercise price of $76.87 (expiring November 6, 2025) and 1,315 SARs with an exercise price of $67.54 (expiring November 4, 2026).

How many ORA shares does Dafna Sharir own after the June 20, 2025 transactions?

Following all reported transactions on June 20, 2025, Dafna Sharir directly owned 3,238 shares of Ormat Technologies (ORA) common stock.

What positions does Dafna Sharir hold at Ormat Technologies (ORA)?

According to the Form 4 filing, Dafna Sharir serves as a Director of Ormat Technologies (ORA). This is indicated by the 'X' marked in the Director box under the Relationship of Reporting Person(s) to Issuer section.