Howard S. Jonas - Feb 9, 2024 Form 4 Insider Report for Genie Energy Ltd. (GNE)

Role
Director, 10%+ Owner
Signature
Joyce J. Mason, by Power of Attorney
Stock symbol
GNE
Transactions as of
Feb 9, 2024
Transactions value $
-$617,273
Form type
4
Date filed
2/13/2024, 06:28 PM
Previous filing
Feb 1, 2024
Next filing
Apr 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction GNE Class B Common Stock, par value $.01 per share Options Exercise $1.02M +126K +68.82% $8.05 310K Feb 9, 2024 Direct F1
transaction GNE Class B Common Stock, par value $.01 per share Tax liability -$1.45M -76.5K -24.73% $18.89 233K Feb 9, 2024 Direct F2, F3
transaction GNE Class B Common Stock, par value $.01 per share Tax liability -$187K -10.1K -4.32% $18.61 223K Feb 10, 2024 Direct F4, F5
transaction GNE Class B Common Stock, par value $.01 per share Gift $0 -2.76K -1.24% $0.00 220K Feb 10, 2024 Direct F6
holding GNE Class B Common Stock, $.01 par value per share 877K Feb 9, 2024 By HSJ 2024 Genie Annuity Trust
holding GNE Class B Common Stock, $.01 par value per share 629K Feb 9, 2024 By HSJ 2022 Annuity Trust I
holding GNE Class B Common Stock, $.01 par value per share 275K Feb 9, 2024 By The Jonas Foundation
holding GNE Class B Common Stock, $.01 par value per share 1.09M Feb 9, 2024 By HSJ 2019 Remainder Trust
holding GNE Class A Common Stock, $.01 par value per share 1.38M Feb 9, 2024 By Genie A Partners, L.P.

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction GNE Employee Stock Option (right to buy) Options Exercise $0 -126K -100% $0.00* 0 Feb 9, 2024 Class B Common Stock 126K $8.05 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of 126,176 shares held directly, and 183,333 unvested restricted shares of Class B common stock. Of the 183,333 unvested restricted shares, 73,333 shares shall vest as follows: 36,667 shares vest on August 3, 2024 and 36,666 shares vest on August 3, 2025. The remaining 110,000 unvested restricted shares vest ratably on each of February 10, 2024, February 10, 2025 and February 10, 2026.
F2 Represents 53,770 shares that were withheld by the Issuer to pay the exercise price, and 22,774 shares that were withheld by the Issuer to pay the tax withholding obligation that arose upon the Reporting Person's exercise of the option to purchase shares of Class B common stock described in Table II of this Form 4.
F3 Consists of 49,632 shares held directly, and 183,333 unvested restricted shares of Class B common stock. Of the 183,333 unvested restricted shares, 73,333 shares shall vest as follows: 36,667 shares vest on August 3, 2024 and 36,666 shares vest on August 3, 2025. The remaining 110,000 unvested restricted shares vest ratably on each of February 10, 2024, February 10, 2025 and February 10, 2026.
F4 Represents shares withheld by the Issuer upon the vesting of restricted shares of Class B common stock.
F5 Consists of 49,632 shares held directly, 26,612 vested restricted shares; and 146,666 unvested restricted shares of Class B common stock. Of the 146,666 unvested restricted shares, 73,333 shares shall vest as follows: 36,667 shares vest on August 3, 2024 and 36,666 shares vest on August 3, 2025. The remaining 73,333 unvested restricted shares vest ratably on each of February 10, 2025 and February 10, 2026.
F6 Consists of 46,875 shares held directly, 26,612 vested restricted shares; and 146,666 unvested restricted shares of Class B common stock. Of the 146,666 unvested restricted shares, 73,333 shares shall vest as follows: 36,667 shares vest on August 3, 2024 and 36,666 shares vest on August 3, 2025. The remaining 73,333 unvested restricted shares vest ratably on each of February 10, 2025 and February 10, 2026.