Michael M. Stein - May 11, 2023 Form 4 Insider Report for Genie Energy Ltd. (GNE)

Role: CHIEF EXECUTIVE OFFICER
Signature: Joyce J. Mason, by Power of Attorney
Stock symbol: GNE
Transactions as of: May 11, 2023
Transactions value $: $1,271,250
Form type: 4
Date filed: 5/15/2023, 11:18 AM
Previous filing: Feb 14, 2023
Next filing: Aug 7, 2023

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	Award	$1.27M	+90K	+20.45%	$14.13	530K	May 11, 2023	Direct	F1, F2
holding	GNE	Class B Common Stock, par value $.01 per share						1.56K	May 11, 2023	By Wife

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Grant of restricted shares of Issuer's Class B common stock due to the vesting of deferred stock units ("DSUs") that were granted to the Reporting Person on February 11, 2022. The restricted shares granted vest ratably on each of February 10, 2024, February 10, 2025 and February 10, 2026. The DSUs vested on February 10, 2023 and such restricted shares of Issuer's Class B common stock were included on the Reporting Person's Form 4 filed on February 14, 2023 to report the Reporting Person's right to receive such shares which were ultimately granted by the Issuer on May 11, 2023.
F2	Consists of 81,398 shares of Class B common stock held directly; 216,146 fully vested restricted shares of Class B common stock and 232,448 unvested restricted shares of the Company's Class B common stock. Of the 232,448 unvested restricted shares, 142,448 shares shall vest as follows: 52,448 shares shall vest on November 4, 2023, and 30,000 shares shall vest on each of August 3, 2023, August 3, 2024, and August 3, 2025. The remaining 90,000 unvested restricted shares shall vest as follows: 30,000 shares shall vest ratably on each of February 10, 2024, February 10, 2025, and February 10, 2026.

Content

Grant of restricted shares of Issuer's Class B common stock due to the vesting of deferred stock units ("DSUs") that were granted to the Reporting Person on February 11, 2022. The restricted shares granted vest ratably on each of February 10, 2024, February 10, 2025 and February 10, 2026. The DSUs vested on February 10, 2023 and such restricted shares of Issuer's Class B common stock were included on the Reporting Person's Form 4 filed on February 14, 2023 to report the Reporting Person's right to receive such shares which were ultimately granted by the Issuer on May 11, 2023.

Consists of 81,398 shares of Class B common stock held directly; 216,146 fully vested restricted shares of Class B common stock and 232,448 unvested restricted shares of the Company's Class B common stock. Of the 232,448 unvested restricted shares, 142,448 shares shall vest as follows: 52,448 shares shall vest on November 4, 2023, and 30,000 shares shall vest on each of August 3, 2023, August 3, 2024, and August 3, 2025. The remaining 90,000 unvested restricted shares shall vest as follows: 30,000 shares shall vest ratably on each of February 10, 2024, February 10, 2025, and February 10, 2026.