Ginzburg Assi 4
4 · ORMAT TECHNOLOGIES, INC. · Filed Mar 25, 2026
Research Summary
AI-generated summary of this filing
Ormat (ORA) CFO Assi Ginzburg Exercises PSUs, Receives RSUs
What Happened
- Assi Ginzburg, Chief Financial Officer of Ormat Technologies (ORA), reported the vesting/conversion of performance- and time-based equity awards on March 21, 2026. According to the Form 4, 6,611 performance stock units (PSUs) were paid out (acquired) and 2,205 PSUs were converted to restricted stock units (RSUs) that remain time‑vested. Additionally, 1,064 shares were recorded as disposed (derivative), consistent with shares surrendered/withheld in the settlement process. All transactions show $0 per share in the filing because these were compensatory awards/settlements, not open‑market purchases or sales.
Key Details
- Transaction date(s): March 21, 2026; Form 4 filed March 25, 2026.
- Amounts and types: +6,611 shares (PSUs paid out, code M/A), +2,205 shares (converted/granted as RSUs, code A), -1,064 shares (disposed, derivative, likely tax withholding).
- Price: $0.00 reported for these award/settlement transactions (compensation conversion, not a paid purchase).
- Shares owned after transaction: Not disclosed on the Form 4 summary provided.
- Notable footnotes:
- RSUs granted March 21, 2023 vest 25% each anniversary (footnote F1).
- PSUs granted March 21, 2023 vest based on performance (50% relative TSR; 50% MW capacity) and time (75% on year 3, 25% on year 4) (F2).
- On March 21, 2026 the PSUs performance goals were met at the reported levels; 75% of PSUs were paid out (6,611), and the remaining 25% (2,205) remain as RSUs subject to time-vesting until the fourth anniversary (F3).
- Filing timeliness: Form 4 filed March 25, 2026 covering March 21 transactions (timeliness is noted on the filing).
Context
- These transactions reflect compensation plan vesting (performance- and time-based equity), not an open-market buy or sell driven by a discretionary trade. The disposal of 1,064 shares is consistent with shares withheld or surrendered to satisfy tax/settlement obligations common in equity settlements. Such vesting events are routine executive compensation events and do not by themselves signal the insider’s personal buying or selling intent.
Insider Transaction Report
Form 4
Ginzburg Assi
Chief Financial Officer
Transactions
- Exercise/Conversion
Common Stock
[F1]2026-03-21+1,064→ 10,576 total - Exercise/Conversion
Common Stock
[F2][F3]2026-03-21+6,611→ 17,187 total - Exercise/Conversion
Restricted Stock Units
[F1]2026-03-21−1,064→ 1,064 total→ Common Stock (1,064 underlying) - Award
Restricted Stock Units
[F2][F3]2026-03-21+2,205→ 2,205 total→ Common Stock (2,205 underlying)
Footnotes (3)
- [F1]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.
- [F2]On March 21, 2023, the reporting person was granted performance stock units (with a target amount of 6,413), 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.
- [F3]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% (6,611 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% (2,205 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.
Signature
/s/ Jessica Woelfel - as attorney-in-fact|2026-03-24