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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Appreciation Rights | $ 42.87 | 06/14/2016 | A | 100,000 | 06/14/2018(1) | 06/14/2022 | Common Stock | 100,000 | $ 0 | 500,000 (2) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Angel Isaac C/O ORMAT TECHNOLOGIES, INC. 6225 NEIL ROAD RENO, NV 89511 |
CEO |
/s/ Etty Rosner | 06/15/2016 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The 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). |
(2) | This 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. |