Form 4: Ormat Technologies Director Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Director David Granot sold 686 shares of Ormat Technologies stock on May 30, 2024, to cover tax obligations related to RSU vesting.
Summary
- On May 30, 2024, David Granot, a director of Ormat Technologies, Inc., sold 686 shares of common stock.
- The sale was executed on the open market at a price of $73.46 per share.
- This transaction was conducted to satisfy the reporting person's tax withholding obligation in connection with the vesting of Restricted Stock Units (RSUs) on May 9, 2024.
- Following the transaction, Granot directly owns 4,832 shares of Ormat Technologies common stock.
Sentiment
Score: 6
Explanation: The document describes a routine transaction (selling shares to cover taxes). It's neutral in sentiment as it doesn't indicate positive or negative developments for the company.
Industry Context
Sales of shares to cover tax obligations after vesting of stock options or restricted stock units are a routine part of executive compensation and do not necessarily reflect a change in the executive's view of the company's prospects.
Key Dates
| Date | Description |
|---|---|
| 05/09/2024 | Date of RSU vesting that triggered the tax obligation. |
| 05/30/2024 | Date of the share sale transaction. |
| 05/31/2024 | Date of signature on the Form 4 filing. |
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