ORMAT TECHNOLOGIES, INC.
For the period ended Jun 2, 2026. Filed Apr 21, 2026.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Jun 2, 2026 · Filed Apr 21, 2026
Contents
- Compensation Elements
Our executive compensation program consists of three elements, namely, annual salary, annual bonus and equity awards, with an emphasis on at-risk and/or long-term compensation.
| Element | Purpose | Key Features | |
| SHORT-TERM FIXED COMPENSATION | Annual Salary | •Monthly cash compensation •Provides a predictable annual income at a level consistent with the individual’s contributions of our executive officers | See page 41 for more details |
|---|---|---|---|
| MEDIUM-TERM VARIABLE COMPENSATION | Management Plan | •Annual bonus opportunity based on challenging, pre-set performance metrics or other incentive-based compensation•Links our executive officers’ compensation to the Company’s overall annual performance, as well as, in most cases, individual achievement | 2025 Metrics:•Company Performance Metrics (Revenue, Adjusted EBITDA) •Quantitative individual performance criteria •Qualitative CEO goals No bonus paid unless net income is positiveSee pages 42-45 for more details |
| LONG-TERMEQUITY AWARDS Mix of equity awards, typically granted each year, to promote long-term leadership and align the interests of our executive officers with those of our stockholders | Performance Stock Units (PSUs) | •Focuses executives on the achievement of specific long-term financial performance goals directly aligned with our operating and strategic plans •PSUs weighted approximately 60% | Vesting: 3-year performance period and 3-year service periodPerformance Metrics: •50% relative TSR •50% Megawatts (low-carbon capacity targets)TSR Payout capped at 100% if absolute TSR is negativeSee pages 45-47 for more details |
| Restricted Stock Units (RSUs) | •Assists in retaining our executives to ensure execution of our long-term strategies•RSUs weighted approximately 40% | Vesting: 3 years |
We determine each element individually based on the relevant criteria described in this discussion.
In addition to these main compensation components, our NEOs who are residents of Israel receive, as a function of their salary payments, the standard social benefits (namely, severance pay, defined contribution plan, and disability) paid to all of our employees who are based in Israel. These social benefits are fixed as a percentage of the NEO’s salary and are not subject to discretionary adjustments. NEOs who are residents of the United States participate in a defined contribution plan (401(k) plan) and receive health insurance benefits, in addition to Social Security. We do not cover any tax payments or otherwise “gross-up” any part of the compensation packages of our executive officers regardless of their location.
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