Michael M. Stein - Feb 11, 2022 Form 4 Insider Report for Genie Energy Ltd. (GNE)

Signature
Joyce J. Mason, by Power of Attorney
Stock symbol
GNE
Transactions as of
Feb 11, 2022
Transactions value $
$0
Form type
4
Date filed
2/14/2022, 01:18 PM
Previous filing
Nov 8, 2021
Next filing
Aug 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding GNE Class B Common Stock, par value $.01 per share 365K Feb 11, 2022 Direct F1
holding GNE Class B Common Stock, par value $.01 per share 1.56K Feb 11, 2022 By Wife

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 Deferred Stock Units Award $0 +90K $0.00 90K Feb 11, 2022 Class B Common Stock 90K Direct F2, F3
transaction GNE Deferred Stock Units Award $0 +90K $0.00 90K Feb 11, 2022 Class B Common Stock 90K Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of 178,604 fully vested restricted shares of Class B common stock; 81,398 shares of Class B common stock held directly; and 104,896 unvested restricted shares of Class B common stock, 52,448 shares of which shall vest on each of November 4, 2022 and November 4, 2023.
F2 Each Deferred Stock Unit ("DSU") entitles the Reporting Person to a grant of 90,000 restricted shares of the Issuer's Class B common stock the business day following the date the stock has a 30 trading day average closing price of $9.04 or greater. Should the restricted stock be granted, the shares shall vest ratably over a three year period, commencing on the first anniversary of the restricted stock grant date.
F3 The DSUs will expire on February 10, 2023 should the 30 trading day average closing price of $9.04 or greater not occur, in which case no shares of restricted stock shall be granted.
F4 Each DSU entitles the Reporting Person to a grant of 90,000 restricted shares of the Issuer's Class B common stock the business day following the date the stock has a 30 trading day average closing price of $10.84 or greater. Should the restricted stock be granted, the shares shall vest ratably over a three year period, commencing on the first anniversary of the restricted stock grant date.
F5 The DSUs will expire on February 10, 2023 should the 30 trading day average closing price of $10.84 or greater not occur, in which case no shares of restricted stock shall be granted.