Ormat Technologies, Inc. (NYSE:ORA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May7, 2018, Ormat Technologies, Inc. (the “Company”) held its 2018 Annual Meeting of Stockholders (the “Annual Meeting”) at which the Company’s stockholders approved the Ormat Technologies, Inc. 2018 Incentive Compensation Plan (the “2018 Plan”). The 2018 Plan became effective as of the date of such stockholder approval.
The material features of the 2018 Plan are described in the Company’s definitive proxy statement for the Annual Meeting filed on March 27, 2018 (the “Proxy Statement”) in the section entitled “Proposal 3 – Approval of the Ormat Technologies, Inc. 2018 Incentive Compensation Plan”. Such description is qualified entirely by reference to the 2018 Plan, which is filed in the Proxy Statement in the section entitled “Appendix A – Ormat Technologies, Inc. 2018 Incentive Compensation Plan”.
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Item 5.07. |
Submission of Matters to a Vote of Security Holders. |
On May7, 2018, the Company held its Annual Meeting. For more information on the following proposals submitted to stockholders, see the Company’s Proxy Statement. The results of the votes were as follows:
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Proposal 1- Election of Directors |
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The following three individuals were elected to the Company’s Board of Directors to serve as Class II directors until the 2021 annual meeting of stockholders and until their successors have been duly elected and qualified. |
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Votes For |
Votes Against |
Votes Abstained |
Broker Non- Votes |
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Ravit Barniv |
29,023,566 |
12,223,589 |
10,579 |
1,330,100 |
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Stan H. Koyanagi |
29,283,608 |
11,963,371 |
10,755 |
1,330,100 |
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Dafna Sharir |
29,436,823 |
11,811,197 |
9,714 |
1,330,100 |
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Proposal 2 – Ratification of Appointment of PricewaterhouseCoopers LLP for 2018 |
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The appointment of PricewaterhouseCoopers LLPas the Company's independent registered public accounting firm for the fiscal year ending December 31, 2018 was ratified. |
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Votes For |
Votes Against |
Votes Abstained |
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41,631,746 |
513,235 |
442,853 |
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Proposal 3- Approval of the Ormat Technologies, Inc. 2018 Incentive Compensation Plan |
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The Company’s 2018 Incentive Compensation Plan was approved. |
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Votes For |
Votes Against |
Votes Abstained |
Broker Non- Votes |
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25,902,470 |
15,286,545 |
68,719 |
1,330,100 |
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Proposal 4-Approval of the Compensation of our Named Executive Officers on an Advisory Basis |
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The stockholders approved, on an advisory basis, the compensation paid to the Company’s named executive officers. |
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Votes For |
Votes Against |
Votes Abstained |
Broker Non- Votes |
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26,441,610 |
14,762,258 |
53,866 |
1,330,100 |
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About Ormat Technologies, Inc. (NYSE:ORA)
Ormat Technologies, Inc. is engaged in the geothermal and recovered energy power business. The Company designs, develops, builds, owns and operates geothermal and recovered energy-based power plants. The Company’s equipment manufacturing operations are located in Israel. The Company conducts its business activities in two business segments: Electricity segment and Product segment. The Company’s Electricity segment develops, builds, owns and operates geothermal and recovered energy-based power plants in the United States and geothermal power plants in other countries around the world, and sells the electricity it generates. The Company’s Product Segment designs, manufactures and sells equipment for geothermal and recovered energy-based electricity generation, remote power units and other power generating units, and provide services relating to the engineering, procurement, construction, operation and maintenance of geothermal, and recovered energy-based power plants.
