Howard S. Jonas - May 11, 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 11, 2023
Transactions value $: $1,553,750
Form type: 4
Date filed: 5/15/2023, 11:15 AM
Previous filing: May 9, 2023
Next filing: May 19, 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	$1.55M	+110K	+30.52%	$14.13	470K	May 11, 2023	Direct	F1, F2
holding	GNE	Class B Common Stock, par value $.01 per share						1.09M	May 11, 2023	By HSJ 2019 Remainder Trust
holding	GNE	Class B Common Stock, par value $.01 per share						629K	May 11, 2023	By HSJ 2022 Annuity Trust I
holding	GNE	Class B Common Stock, par value $.01 per share						1.56K	May 11, 2023	By Daughter (Miriam)
holding	GNE	Class B Common Stock, par value $.01 per share						275K	May 11, 2023	By The Jonas Foundation

* 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 198,029 shares of Class B common stock held directly; 19,116 fully vested restricted shares of Class B common stock; and 253,333 unvested restricted shares of Class B common stock. Of the 253,333 unvested restricted shares, 143,333 vest as follows: 33,333 shares vest on January 5, 2024, 36,667 shares vest on each of August 3, 2023 and 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.

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 198,029 shares of Class B common stock held directly; 19,116 fully vested restricted shares of Class B common stock; and 253,333 unvested restricted shares of Class B common stock. Of the 253,333 unvested restricted shares, 143,333 vest as follows: 33,333 shares vest on January 5, 2024, 36,667 shares vest on each of August 3, 2023 and 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.