Ormat Technologies, Inc. (NYSE:ORA) Files An 8-K Financial Statements and Exhibits
Item 9.01

Financial Statements and Exhibits

Exhibit Index

(e) On May 7, 2017, the Board of Directors (the “Board”) of Ormat Technologies, Inc. (the “Company”), upon the recommendation of the Compensation Committee (the “Committee”) of the Board, approved the grant by the Company to its chief executive officer (“CEO”) equity incentive compensation with an aggregate value of $6,445,000 and a target value mix of two-thirds of stock appreciation rights (“SARs”) and one-third of restricted stock units (“RSUs”) to the Company’s 2018 Incentive Compensation Plan, effective as of and approved by the Company’s stockholders on May 7, 2018 (the “Plan”). The actual number of SARs and RSUs granted to Mr. Angel is based on the closing price of the Company’s Common Stock on the next business day following the date of the grant.

The RSUs and SARs are time-vested and will vest according to the following schedules: RSUs and SARs granted to the CEO will vest 22%, 22%, 28% and 28%, respectively, on November 7, 2018, November 7, 2019, November 7, 2020 and November 7, 2021, respectively. RSUs represents the right to receive payment of an amount equal to all or a portion of the fair market value of a specified number of shares of the Company’s Common Stock upon vesting and are valued on the date of grant based on the closing price of the Company’s Common Stock on the next business day following such date of grant. SARs will be paid in shares of the Company’s Common Stock with a value equal to the amount by which the market value of all shares of the Company’s Common Stock in respect of which the SAR is exercised exceeds the grant price of such SAR. RSUs and SARs are subject to clawback under certain circumstances.

The Form of Stock Appreciation Right Agreement for stock appreciation rights awarded to Mr. Isaac Angel and the Form of Restricted Stock Unit Agreement for restricted stock units awarded to Mr. Isaac Angel are filed as Exhibit 10.1 and Exhibit 10.2, respectively to this Current Report on Form 8-K and are incorporated herein by reference.

ORMAT TECHNOLOGIES, INC. Exhibit
EX-10.1 2 ex_113703.htm EXHIBIT 10.1 ex_113703.htm Exhibit 10.1       FORM OF FREESTANDING STOCK APPRECIATION RIGHT AGREEMENT   Date:   Company: Ormat Technologies,…
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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.