Director Stanley Stern of Ormat Technologies, Inc. filed a Form 4 on November 4, 2026, disclosing the exercise of 1,315 stock options set to expire on November 4, 2026, and a related share withholding transaction dated November 2, 2026.

Key Highlights

  • Option exercise: Stanley Stern, a director at Ormat Technologies, exercised 1,315 stock options (transaction code M) on November 2, 2026, at an exercise price of $67.54 per share.
  • Payment method: According to the filing, the exercise price was paid via a reduction in the number of shares issued, not through a market sale.
  • Shares withheld for taxes: 966 shares were disposed of (transaction code F) on November 2, 2026, at a price of $91.87 per share.
  • Post-transaction ownership: Following both transactions, Stern directly beneficially owns 6,149 shares of common stock.
  • Options extinguished: The 1,315 stock options exercised, which had an expiration date of November 4, 2026, now show zero derivative securities remaining beneficially owned.
  • Issuer: Ormat Technologies, Inc., traded on NYSE:ORA.

Stern Exercises Expiring Stock Options via Net Share Settlement

According to the Form 4 filed with the SEC on November 4, 2026, Stanley Stern, a director of Ormat Technologies, Inc. (NYSE:ORA), exercised 1,315 stock options on November 2, 2026. The options carried an exercise price of $67.54 per share and were set to expire on November 4, 2026, having been granted with an exercisable date of November 4, 2021. Following the exercise, the options position in Table II shows zero derivative securities remaining beneficially owned by Stern.

The filing's explanation of responses states that "the exercise price was paid via a reduction in the number of shares issued to the reporting person by the value of the exercise price," and that "the transaction was between the reporting person and the issuer, and did not involve a sale or other transaction with the market." In a separate transaction on the same date, 966 shares were disposed of at $91.87 per share under transaction code F, which typically reflects shares withheld to cover tax obligations, though the filing does not use that characterization explicitly.

After both the acquisition of 1,315 shares (code M) and the disposition of 966 shares (code F), Stern's direct beneficial ownership in Ormat Technologies common stock stood at 6,149 shares, as reported in Table I of the filing. The Form 4 was signed by Jessica Woelfel as attorney-in-fact on November 4, 2026.

What Was Disclosed

Director Stanley Stern disclosed the exercise of 1,315 expiring stock options in Ormat Technologies on November 2, 2026, settled on a net-share basis, along with a disposition of 966 shares, leaving him with direct beneficial ownership of 6,149 shares of common stock.