Summary
Jessica Woelfel, who holds the combined roles of General Counsel, Chief Compliance Officer, and Corporate Secretary at Ormat Technologies, sold 136 shares of the company's common stock on March 24, 2026. According to regulatory filings, the shares traded at $107.79 apiece, resulting in total proceeds of $14,659. The disposition was executed as an automatic sell-to-cover to meet tax withholding obligations tied to restricted stock units (RSUs) that vested on March 21, 2026.
Transaction specifics and related equity awards
The Form 4 filing with the Securities and Exchange Commission discloses that the sell-to-cover followed a series of equity events for Woelfel on March 21, 2026. On that date she exercised options to purchase 563 shares, received 3,500 shares connected to performance stock units, and acquired an additional 1,168 Restricted Stock Units. The automatic sale on March 24 satisfied withholding requirements resulting from those vesting and exercise events.
Market context
Ormat shares have risen roughly 55% over the past year and were trading at $109.84 at the time of the report, with a market capitalization of $6.68 billion. Separately, InvestingPro's analysis referenced in the filing indicates the stock appears overvalued when compared to its Fair Value calculations.
Corporate financing and contract developments
In other corporate actions disclosed alongside the filing, Ormat completed a private placement of $1.0 billion in convertible senior notes. The offering consists of $825 million in 1.50% Series A Convertible Senior Notes due 2031 and $175 million in 0.00% Series B Convertible Senior Notes due 2031, sold under Rule 144A to qualified institutional buyers. The issuance amount was increased from initial plans after demand.
The company also amended power purchase agreements with Central Coast Community Energy and Silicon Valley Clean Energy, implementing a 27% price increase and extending the terms by five years so the contracts now expire in 2037. These actions were reported as part of Ormat's recent financial and contractual activity.
What the filings show
The regulatory disclosure presents a snapshot of executive equity activity tied to compensation vesting and tax obligations, set against broader company financing and contract adjustments. The filing itself does not attribute intent to the transactions beyond satisfying withholding obligations for vested equity.
Key takeaways
- Woelfel sold 136 shares on March 24, 2026, in a sell-to-cover transaction at $107.79 per share, totaling $14,659.
- On March 21, 2026, Woelfel exercised options for 563 shares, received 3,500 performance stock unit shares, and acquired 1,168 RSUs.
- Ormat completed a $1.0 billion convertible notes offering and amended two power purchase agreements to include a 27% price increase and five-year extension.