Howard S. Jonas - Feb 10, 2023 Form 4 Insider Report for Genie Energy Ltd. (GNE)

Role: Director
Signature: Joyce J. Mason, by Power of Attorney
Stock symbol: GNE
Transactions as of: Feb 10, 2023
Transactions value $: $0
Form type: 4
Date filed: 2/14/2023, 05:13 PM
Previous filing: Nov 30, 2022
Next filing: Mar 17, 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	Options Exercise		+110K	+67.71%		272K	Feb 10, 2023	Direct	F1, F2
holding	GNE	Class B Common Stock, par value $.01 per share						99.3K	Feb 10, 2023	By HSJ 2020 Genie Annuity Trust
holding	GNE	Class B Common Stock, par value $.01 per share						629K	Feb 10, 2023	By HSJ 2022 Annuity Trust I
holding	GNE	Class B Common Stock, par value $.01 per share						1M	Feb 10, 2023	By HSJ 2020 IDT Annuity Trust
holding	GNE	Class B Common Stock, par value $.01 per share						85.5K	Feb 10, 2023	By HSJ 2019 Genie Remainder Trust
holding	GNE	Class B Common Stock, par value $.01 per share						1.56K	Feb 10, 2023	By Daughter (Miriam)
holding	GNE	Class B Common Stock, par value $.01 per share						275K	Feb 10, 2023	By The Jonas Foundation

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	Options Exercise	$0	-110K	-100%	$0.00^*	0	Feb 10, 2023	Class B Common Stock	110K		Direct	F1, F3

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

Explanation of Responses:

Id	Content
F1	Restricted Shares of the Issuer's Class B common stock issuable upon the vesting of Deferred Stock Units ("DSUs") on a one-for-one basis.
F2	Consists of 110,000 restricted shares of the Issuer's Class B common stock to be granted due to the vesting of DSUs; 19,116 shares of vested restricted stock; and 143,333 shares of unvested restricted stock 33,333 shares of which shall vest on January 5, 2024, 36,667 shares of which shall vest on each of August 3, 2023 and August 3, 2024, and 36,666 shares of which shall vest on August 3, 2025.
F3	On February 11, 2022, the Reporting Person was granted 110,000 DSUs, entitling the Reporting Person to a grant of 110,000 restricted shares of the Issuer's Class B common stock the business day following the date the stock had a 30 trading day average closing price of $10.84 or greater. The shares were to vest ratably over a three year period, commencing on the first anniversary of the restricted stock grant date.