Howard S. Jonas - May 5, 2023 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: May 5, 2023
Transactions value $: -$1,310,802
Form type: 4
Date filed: 5/9/2023, 08:01 PM
Previous filing: Mar 17, 2023
Next filing: May 15, 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	$1.11M	+257K	+69.08%	$4.34	629K	May 5, 2023	Direct	F1
transaction	GNE	Class B Common Stock, par value $.01 per share	Tax liability	-$2.43M	-158K	-25.15%	$15.34	470K	May 5, 2023	Direct	F2, F3
holding	GNE	Class B Common Stock, par value $.01 per share						1.09M	May 5, 2023	By HSJ 2019 Remainder Trust
holding	GNE	Class B Common Stock, par value $.01 per share						629K	May 5, 2023	By HSJ 2022 Annuity Trust I
holding	GNE	Class B Common Stock, par value $.01 per share						1.56K	May 5, 2023	By Daughter (Miriam)
holding	GNE	Class B Common Stock, par value $.01 per share						275K	May 5, 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	Option (Right to buy)	Options Exercise	$0	-257K	-100%	$0.00^*	0	May 5, 2023	Class B Common Stock	257K	$4.34	Direct

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

Explanation of Responses:

Id	Content
F1	Consists of 356,138 shares held directly and 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.
F2	72,659 shares were withheld by the Issuer to pay the exercise price and 85,450 shares 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 198,029 shares held directly and 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.