# EDGAR Filing Document

**Accession Number:** 0001909177
**File Stem:** 0001437749-25-034160
**Filing Date:** 2025-11
**Character Count:** 7876
**Document Hash:** 09193c3d586ac7402d3b5b843968dd87
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-25-034160.hdr.sgml**: 20251110

**ACCESSION NUMBER**: 0001437749-25-034160

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251107

**FILED AS OF DATE**: 20251110

**DATE AS OF CHANGE**: 20251110

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Woelfel Jessica
- **CENTRAL INDEX KEY:** 0001909177

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32347
- **FILM NUMBER:** 251467990

**MAIL ADDRESS:**
- **STREET 1:** 6140 PLUMAS STREET
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89519
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ORMAT TECHNOLOGIES, INC.
- **CENTRAL INDEX KEY:** 0001296445
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC SERVICES [4911]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 880326081
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 6884 SIERRA CENTER PARKWAY
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89511
- **BUSINESS PHONE:** 775-356-9029

**MAIL ADDRESS:**
- **STREET 1:** 6884 SIERRA CENTER PARKWAY
- **CITY:** RENO
- **STATE:** NV
- **ZIP:** 89511

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Woelfel Jessica<br><sub>(Last) (First) (Middle)</sub><br>C/O ORMAT TECHNOLOGIES, INC.<br>6884 SIERRA CENTER PARKWAY<br><sub>(Street)</sub><br>RENO, NV 89511<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-11-07 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_GC, CCO, and CS_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>ORMAT TECHNOLOGIES, INC. [ ORA ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Common Stock | 2025-11-07 |  | M<sup>(1)</sup> |  | 1000 | A | $71.15 | 4433 | D |  |
| Common Stock | 2025-11-07 |  | D |  | 632<sup>(2)</sup> | D | $112.36 | 3801 | D |  |
| Common Stock | 2025-11-07 |  | S<sup>(4)</sup> |  | 368 | D | 112.36<sup>(3)</sup> | 3433 | D |  |
| Common Stock | 2025-11-10 |  | M<sup>(5)</sup> |  | 1889 | A | $71.15 | 5322 | D |  |
| Common Stock | 2025-11-10 |  | D |  | 1168<sup>(6)</sup> | D | $115 | 4154 | D |  |
| Common Stock | 2025-11-10 |  | S<sup>(7)</sup> |  | 721 | D | $115 | 3433 | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Stock Appreciation Rights (SARs) | $71.15 | 2025-11-07 |  | M |  |  | 1000 | 2024-03-01 | 2028-03-01 | Common Stock | 1000 | $0 | 2851 | D |  |
| Stock Appreciation Rights (SARs) | $71.15 | 2025-11-10 |  | M |  |  | 1889 | 2024-03-01 | 2028-03-01 | Common Stock | 1889 | $0 | 962 | D |  |

---

### Footnotes:

(1) Represents the exercise of Stock Appreciation Rights ("SARs") expiring on March 1, 2028, for which the reporting person exercised 1,000 of the 3,851 shares.

(2) This represents the difference between the number of SARs exercised (1,000) and the number of shares issued as a result of the exercise (368). 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 ($112.36) and the exercise price ($71.15).

(3) The price reported in column 4 is a weighted average price. These shares were executed and sold in multiple transactions at prices ranging from $112.35 to $112.39, inclusive. The reporting person undertakes to provide to Ormat Technologies, Inc. (the "Company"), any securityholder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the range specified herein.

(4) Represents shares of common stock sold in the open market on November 7, 2025.

(5) Represents the exercise of SARs expiring on March 1, 2028, for which the reporting person exercised 1,889 of the 2,851 shares.

(6) This represents the difference between the number of SARs exercised (1,889) and the number of shares issued as a result of the exercise (721). 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 ($71.15).

(7) Represents shares of common stock sold in the open market on November 10, 2025.

**Signature:** /s/ Jessica Woelfel  
**Date:** 2025-11-10

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* 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).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**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 Number.**