Sec Form 4 Filing - Klein Erez @ ORMAT TECHNOLOGIES, INC. - 2016-12-23

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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Klein Erez 2. Issuer Name and Ticker or Trading Symbol ORMAT TECHNOLOGIES, INC. [ ORA] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) V.P., Operations (Last) (First) (Middle) C/O ORMAT TECHNOLOGIES, INC., 6225 NEIL ROAD 3. Date of Earliest Transaction (MM/DD/YY) 12/23/2016 (Street) RENO, NV89511 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 12/23/2016 M 5,150 A $ 29.95 5,150 D Common Stock 12/23/2016 S 5,150 D $ 52.95 0 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Appreciation Right $ 29.95 12/23/2016 M 12,000 04/16/2012 04/16/2017 Common Stock 5,150 $ 0 112,500 ( 1 ) D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Klein Erez C/O ORMAT TECHNOLOGIES, INC. 6225 NEIL ROAD RENO, NV89511 V.P., Operations Signatures /s/ Etty Rosner 12/27/2016 Signature of Reporting Person Date

Explanation of Responses:

( 1 )This includes the following grants: (i) 15,000 Stock Appreciation Rights granted on March 31, 2011 at exercise price of $25.65 ea that are fully vested (ii) 15,000 Stock Appreciation Rights granted on April 2, 2012 at exercise price of $20.13 ea that are fully vested (iii) 40,000 Stock Appreciation Rights granted on June 4, 2013 at exercise price of $23.34 ea out of which 20,000 has vest and the balance 20,000 will vest on June 4, 2017 and (iv) 42,500 Stock Appreciation Rights granted on June 2016 out of which 50% will be vested on June 14, 2018, 25% on June 14, 2019 and 25% on June 14, 2020.

Remarks: Etty Rosner is signing on behalf of Mr. Klein pursuant to a power of attorney dated July 15, 2014.

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).

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