SEC Form 4 · accession 0001437749-16-033892
ORMAT TECHNOLOGIES, INC. · ORA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Isaac Angel
Officer — CEO
Period of report
Jun 14, 2016
Accepted (ET)
Jun 15, 2016 · 4:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001296445
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Appreciation RightsF2,F1 | $42.87 | Jun 14, 2016 | A | 100,000 | A | Jun 14, 2018 | Jun 14, 2022 | Common Stock | 100,000 | 500,000 | D |
Explanation of responses
- F1The Stock Appreciation Rights will vest and become exercisable according to the following schedule: 50% on June 14, 2018, 25% on June 14, 2019 and 25% on June 14, 2020 and is subject to acceleration in the case of "change in control" (as defined in his employment agreement dated February 11, 2014).
- F2This includes the following grants (i) 300,000 Stock options granted on April 1, 2014 at exercise price of $29.52 out of which 75,000 has vest and the balance of 225,000 will vest in 3 equal installments commencing on March 31, 2017 and(ii) 100,000 Stock Options granted on April 1, 2014 at exercise price of $29.52 ea that will vest on March 31, 2021.
Remarks
Etty Rosner is signing on behalf of Mr. Angel pursuant to a power of attorney dated March 4, 2014.