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).
X
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*
Angel Isaac

(Last) (First) (Middle)
C/O ORMAT TECHNOLOGIES, INC.
6140 PLUMS ST.

(Street)
RENO NV 89519-6075

(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)
09/05/2023
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 09/05/2023 M 96,353(1) A $55.16 138,286(1) D
Common Stock 09/05/2023 D 70,209(1) D $75.7 68,077(1) D
Common Stock 09/06/2023 M 103,313 A $55.16 145,246(2) D
Common Stock 09/06/2023 D 75,500 D $75.48 69,746 D
Common Stock 09/06/2023 S 22,399 D $74.42(3)(5) 47,347 D
Common Stock 09/06/2023 S 5,414 D $75.41(4)(5) 41,933 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) $55.16 09/05/2023 M 96,353 11/07/2018 11/07/2023 Common Stock 96,353 $0 106,658 D
Stock Appreciation Rights (SARs) $55.16 09/06/2023 M 103,313 11/07/2018 11/07/2023 Common Stock 103,313 $0 3,345 D
Explanation of Responses:
1. On September 5, 2023, the reporting person exercised 96,353 stock appreciation rights, and then immediately sold 26,144 shares received from such exercise. In a Form 4 filed on September 6, 2023 (the "Prior Form 4"), the reporting person previously reported such sale of 26,144 shares, but omitted the prior exercise of the stock appreciation rights. This Form 4 timely reports the exercise, and so column 5 of this row reflects the amount of shares beneficially owned prior to such sale of 26,144 shares.
2. Due to the circumstances described in footnote 1, column 5 of this row is based on the amount of shares beneficially owned after the sale of 26,144 shares, which was reported in the Prior Form 4 and so is not repeated here. The amount of shares beneficially owned after the sale of 26,144 shares reported in the prior Form 4 should have been 41,933.
3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $74.10 to $75.06, inclusive. The reporting person undertakes to provide to Ormat Technologies, Inc. (the "Company"), any securityholder of the Company or the staff of the Securities and Exchange Commission ("SEC Staff"), upon request, full information regarding the number of shares sold at each price within the range specified herein.
4. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $75.11 to $75.73, inclusive. The reporting person undertakes to provide to the Company, any securityholder of the Company or the SEC Staff, upon request, full information regarding the number of shares sold at each price within the range specified herein.
5. These sales were made pursuant to a Rule 10b5-1 plan adopted by the reporting person on 04-02-2023.
/s/ Ehud Ben Yemini as Attorney -in-Fact 09/07/2023
** 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.

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