Form 4: Ormat Technologies Executive Exercises and Acquires Restricted Stock Units
SEC Form 4 Filing
Ofer Benyosef, EVP of Energy Storage & BD at Ormat Technologies, exercised restricted stock units and acquired additional units on March 1, 2024.
Summary
- On March 1, 2024, Ofer Benyosef, EVP of Energy Storage & BD at Ormat Technologies, exercised 358 restricted stock units (RSUs) that vested, converting them into 358 shares of Ormat Technologies common stock.
- Benyosef also acquired 3,700 new restricted stock units on the same date.
- Following these transactions, Benyosef directly owns 716 derivative securities and 4,551 shares of Ormat Technologies common stock.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation, and doesn't indicate any significant positive or negative sentiment.
Industry Context
Executive compensation and stock ownership are common practices in publicly traded companies like Ormat Technologies to align management's interests with those of shareholders.
Stakeholder Impact
- The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares upon exercise of the RSUs.
Key Dates
| Date | Description |
|---|---|
| 03/01/2022 | Date of grant for a portion of the Restricted Stock Units that vest 25% on each of the first, second, third and fourth anniversaries of the grant date. |
| 03/01/2024 | Date of transaction: Exercise of 358 Restricted Stock Units and acquisition of 3,700 new Restricted Stock Units. |
| 03/05/2024 | Date of Form 4 filing. |
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