Item 5.02. Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On March 12, 2021, Hezi Kattan, the General Counsel of Ormat Technologies, Inc.
(the "Company" or "Ormat") and the Company agreed that he will take a leave of
absence from the Company to allow Mr. Kattan to focus on defending certain
claims against him in Israel which are unrelated to Ormat. Mr. Kattan has not
been charged with any violations of law. Mr. Kattan will continue to receive the
same compensation package during his leave.
Jessica Woelfel, who has served as Vice President, U.S. Legal for Ormat's
business in the United States, since January 2019 has agreed to serve as the
Company's Interim General Counsel. Ms. Woelfel has nearly 20 years of legal
experience and, prior to joining Ormat, Ms. Woelfel was an associate and partner
at major law firms in San Francisco, California and Reno, Nevada. Ms. Woelfel
holds a Bachelor's degree from the University of California, Berkeley and a J.D.
from University of California, Hastings College of Law.
Item 7.01. Regulation FD Disclosure
On March 1, 2021, the Company issued a press release in response to a report
published by Hindenburg Research LLC ("Hindenburg"), a self-proclaimed short
seller. Promptly following the issuance of the report, consistent with best
practices and out of an abundance of caution, Ormat's Board of Directors formed
a special committee of independent directors that is working with outside legal
counsel to review the claims made by Hindenburg and determine whether additional
steps are warranted.
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