Form 4: Ormat Technologies Director Sells Shares to Cover Tax Obligations
SEC Form 4
Dafna Sharir, a director at Ormat Technologies, sold 686 shares of common stock on May 30, 2024, to cover tax obligations related to RSU vesting.
Summary
- On May 30, 2024, Dafna Sharir, a director of Ormat Technologies, Inc. (ORA), sold 686 shares of the company's common stock.
- The sale was executed at a price of $73.46 per share.
- This transaction was conducted to satisfy the reporting person's tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs) on May 9, 2024.
- Following the transaction, Sharir directly owns 3,561 shares of Ormat Technologies common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the transaction is a routine sale of shares to cover tax obligations, which is a common practice.
Industry Context
Sales of shares to cover tax obligations after RSU vesting are a common practice among company directors and executives. This transaction is a routine part of executive compensation and does not necessarily indicate a change in the director's confidence in the company.
Stakeholder Impact
- The sale has a minimal impact on shareholders as it is a small transaction by a single director.
Key Dates
| Date | Description |
|---|---|
| 05/09/2024 | Date of RSU vesting that triggered the tax obligation. |
| 05/30/2024 | Date of the stock sale transaction. |
| 05/31/2024 | Date of signature on the Form 4 filing. |
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