V
Velarion™Intelligence
Sign InFree TrialBook a Walkthrough
Utilities

Ormat Technologies Executive Compensation (FY25)

ORA · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Doron Blachar
Latest say-on-pay support
=
June 4, 2026
Chief executive pay ratio
◇
To the median employee
Velarion Member: every covered company in Utilities, with dashboards, peer screens and board-ready briefs. Three seats, one year.

The Ormat Technologies brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
Data as of October 22, 2026Latest filing (8-K): June 5, 2026
15 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Ormat Technologies brief$1,500Get the executive brief
Velarion Member, one year
335 figures on this page: 326 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Doron Blachar: $3,820,182 → $3,618,005 (5.3% lower)
Say-on-pay support: 87.6% → 93.8% (6.2 points higher)
CEO pay ratio: 34.7:1 → 30.6:1 (11.8% lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Ormat Technologies' chief executive and what were they paid?
Doron Blachar was paid $3,618,005 in total compensation as Chief Executive Officer for fiscal 2025. Blachar's total was 5.3% lower than the $3,820,182 reported for fiscal 2024.
What was Ormat Technologies' say-on-pay result?
The say-on-pay proposal drew 93.8% of votes cast for or against in favor at the meeting held June 4, 2026 for fiscal 2025.
What is Ormat Technologies' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 30.6:1, against median employee compensation of $118,418.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Doron Blachar
Chief Executive Officer
◇—◇◇◇—◇◇
Assaf Ginzburg
Chief Financial Officer
◇—◇◇◇—◇◇
Shimon Hatzir
Executive Vice President, Electricity Segment
◇—◇◇◇—◇◇
Shlomi Argas
President and Head of Operations and Products
◇◇◇◇◇—◇◇
Ofer Yosef
Executive Vice President, Energy Storage and Business Development
◇—◇◇◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Doron Blachar
Chief Executive Officer
◇—◇—◇—◇◇
Assaf Ginzburg
Chief Financial Officer
◇—◇—◇—◇◇
Ofer Ben Yosef
Executive Vice President, Energy Storage and Business Development
◇—◇—◇—◇◇
Jessica Woelfel
General Counsel, Chief Compliance Officer and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Doron Blachar
Chief Executive Officer
◇—◇—◇—◇◇
Assaf Ginzburg
Chief Financial Officer
◇—◇—◇—◇◇
Shimon Hatzir
Executive Vice President, Electricity Segment
◇—◇—◇—◇◇
Ofer Ben Yosef
Executive Vice President, Energy Storage and Business Development
◇—◇—◇—◇— not reconciled
Jessica Woelfel
General Counsel, Chief Compliance Officer, and Corporate Secretary
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Doron Blachar
Chief Executive Officer
◇—◇—◇—◇◇
Assaf Ginzburg
Chief Financial Officer
◇—◇—◇—◇◇
Ofer Ben Yosef
Executive Vice President, Energy Storage and Business Development
◇—◇—◇—◇— not reconciled
Jessica Woelfel
General Counsel, Chief Compliance Officer and Corporate Secretary
◇—◇—◇—◇◇
Aron Willis
Executive Vice President, Electricity Segment
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Aron WillisRSU◇——◇——◇
Assaf GinzburgRSU◇——◇——◇
Assaf GinzburgPSU◇◇◇—◇—◇
Assaf GinzburgPSU◇◇◇—◇—◇
Doron BlacharPSU◇◇◇—◇—◇
Doron BlacharPSU◇◇◇—◇—◇
Doron BlacharRSU◇——◇——◇
Jessica WoelfelRSU◇——◇——◇
Jessica WoelfelPSU◇◇◇—◇—◇
Jessica WoelfelPSU◇◇◇—◇—◇
Ofer Ben YosefPSU◇◇◇—◇—◇
Ofer Ben YosefPSU◇◇◇—◇—◇
Ofer Ben YosefRSU◇——◇——◇
Fiscal 2022 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Assaf GinzburgRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Doron BlacharPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Aron WillisRSU◇◇——
Jessica WoelfelRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
Ofer Ben YosefPSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Option◇—◇—
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Aron Willis
Executive Vice President, Electricity Segment · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Change-in-control multiple◇
Benefits continuation on change in control◇
Benefits continuation◇
Assaf Ginzburg
Chief Financial Officer · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Change-in-control multiple◇
Doron Blachar
Chief Executive Officer · Employment agreement
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Clawback◇
Jessica Woelfel
General Counsel, Chief Compliance Officer and Corporate Secretary · Employment agreement
Benefits continuation◇
Non-compete period◇
Non-solicit period◇
Ofer Ben Yosef
Executive Vice President, Energy Storage and Business Development · Terms as described in the company’s compensation discussion · citing a 2026 filing
Severance multiple◇
Change-in-control multiple◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Isaac Angel
Board chair
◇◇————◇
Michal Marom
◇◇————◇
Dafna Sharir
◇◇————◇
Stanley B. Stern
Lead independent director
◇◇————◇
Karin Corfee
◇◇————◇
David Granot
◇◇————◇
Ravit Barniv
◇◇————◇
Byron G. Wong
◇◇————◇
Mike Nikkel served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 4, 2026=◇◇◇
2024May 7, 2025=◇◇◇
2023May 8, 2024=◇◇◇
2022May 9, 2023=◇◇◇
2021June 2, 2022=◇◇◇
2020May 5, 2021=◇◇◇
2019June 3, 2020=◇◇◇
2017May 7, 2018=◇◇◇
2016May 8, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Velarion Pro: every company page, peer tools and exports, one seat

One seat, one person. It opens the whole platform: the peer tools, the written analysis and the exports, on every company we cover. Join the list and you will hear from us when it opens.
Your address is used for this and nothing else, and you can unsubscribe in one click. See the privacy policy.

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Doron Blachar (Chief Executive Officer), FY2025 total compensation $3,618,005 (base salary $641,062) [exec_comp, SEC accession 0001193125-26-166752, filed 2026-04-21]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

Email me this page as a cited PDF — sent in 2 minutes
The same figures, the same citations, formatted to hand to a committee. Nothing is added that is not on this page.
Your address is used for this and nothing else. Unsubscribe in one click.
Tell me when Ormat Technologies files
You get a note when this company’s compensation data changes.
Your address is used for this and nothing else. Unsubscribe in one click.

What this page does not include

Everything above is a fact Ormat Technologies disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about access
Multiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion Intelligence
Join the list for Peer Group Review
Whether Ormat Technologies' disclosed peer group is defensible, who names Ormat Technologies back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
335 figures on this page: 326 cited to the filing that reported them, 9 calculated from figures it prints.
326 cited to the filing
9 calculated from the filing

Documents cited

  1. 0001437749-26-019607
  2. 0001193125-26-166752
    Compensation Discussion and Analysis · PAY RATIO · SUMMARY COMPENSATION TABLE
  3. 0001437749-25-015199
  4. 0001308179-25-000240
    EXECUTIVE COMPENSATION TABLES
  5. 0001437749-24-015749
  6. 0001308179-24-000314
    SUMMARY COMPENSATION TABLE
  7. 0001437749-23-013601
  8. 0001308179-23-000395
    Summary Compensation Table
  9. 0001437749-23-004477
    Exhibit
  10. 0001437749-22-014303
  11. 0001437749-21-010933
  12. 0001437749-20-014668
    Exhibit
  13. 0001437749-20-012385
  14. 0001437749-18-009057
  15. 0001437749-17-008543
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Ormat Technologies executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/ORA (accessed 2026).
Short form: data: Velarion

The Ormat Technologies brief, $1,500

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
15 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Ormat Technologies and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Setup guide and the full list of questions it answers

Utilities rankings

Chief executive pay — UtilitiesCEO pay ratio — UtilitiesSay-on-pay support — Utilities

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  All companies · The Pay Desk · Methodology · Terms · Privacy