Business Context and Reporting Period
Company: Ormat Technologies, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 13, 2006
Subject: Entry into a Material Definitive Agreement regarding non-employee director compensation.
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report focuses exclusively on a governance matter.
Material Changes
- Director Compensation Amendment: On November 7, 2006, the Board of Directors unanimously voted to amend the non-employee director Compensation Schedule.
- Option Grant Increase: The amendment increases the number of shares underlying the annual grant of call options for each director from 5,000 to 7,500 shares.
Guidance, Outlook, and Risks
Forward-Looking Statements: The filing includes a Safe Harbor Statement noting that any forward-looking statements are based on current estimates and are subject to risks and uncertainties. Actual results may differ materially.
Risk Reference: Investors are directed to the "Risk Factors" section of the Annual Report on Form 10-K (filed March 28, 2006) and the Prospectus Supplement (filed April 5, 2006) for a detailed discussion of risks.
Unusual Items: None reported in this filing.
Investor Verification Checklist
- Verify the effective date of the compensation amendment (November 7, 2006).
- Review the full text of the amended Compensation Schedule provided in Exhibit 10.1.
- Confirm the total number of non-employee directors to calculate the aggregate increase in option grants.
- Check the referenced Form 10-K and Prospectus Supplement for updated risk factors relevant to the company's operations.