Business Context and Reporting Period
This Form 8-K filing by Ormat Technologies, Inc. reports on the Annual Meeting of Stockholders held on May 4, 2011. The report details the outcomes of shareholder votes regarding director elections, executive compensation, and auditor ratification.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This document focuses exclusively on corporate governance matters and does not contain financial performance data.
Material Changes
There are no material financial changes reported in this filing. The primary events are the re-election of directors and the approval of advisory compensation proposals.
Guidance, Outlook, and Management Commentary
The filing contains no guidance, outlook, or management commentary regarding future business operations. It strictly reports the results of the shareholder vote.
Important Facts for Investors to Verify
- Director Re-election: Yoram Bronicki and Roger W. Gale were re-elected for three-year terms with overwhelming support (over 98% of votes cast for each).
- Executive Compensation: Shareholders approved the advisory vote on named executive officer compensation with approximately 97.8% of votes cast in favor.
- Compensation Frequency: Shareholders recommended on an advisory basis that the frequency of the executive compensation vote be once every three years, with approximately 79.5% of votes cast supporting this option.
- Auditor Ratification: The appointment of PricewaterhouseCoopers LLP as the independent auditor for the fiscal year ending December 31, 2011, was ratified with approximately 99.6% of votes cast in favor.