November 5, 2025 · Form 4 insider transaction
Benyosef Ofer sold 12,640 shares of Ormat Technologies, Inc. at $115.00 per share, a transaction worth $1.45M. The trade was recorded as disposition to the issuer and disclosed on an SEC Form 4, filed 1 day after the transaction.
This represents the difference between the number of SARs exercised (21,271) and the number of shares issued as a result of the exercise (8,631). The number of shares to be issued under a SAR exercise is determined by multiplying the number of SARs being exercised by the difference between the market value on the date of exercise ($115.00) and the exercise price ($68.34).