Howard S. Jonas - Jun 6, 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: Jun 6, 2023
Transactions value $: $5,000,000
Form type: 4
Date filed: 6/8/2023, 03:04 PM
Previous filing: May 19, 2023
Next filing: Jul 13, 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	Exercise of in-the-money or at-the-money derivative security	$5M	+1.05M	+222.8%	$4.77	1.52M	Jun 6, 2023	Direct	F1
holding	GNE	Class B Common Stock, par value $.01 per share						1.09M	Jun 6, 2023	By HSJ 2019 Remainder Trust
holding	GNE	Class B Common Stock, par value $.01 per share						629K	Jun 6, 2023	By HSJ 2022 Annuity Trust I
holding	GNE	Class B Common Stock, par value $.01 per share						1.56K	Jun 6, 2023	By Daughter (Miriam)
holding	GNE	Class B Common Stock, par value $.01 per share						275K	Jun 6, 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	Warrant (right to buy)	Exercise of in-the-money or at-the-money derivative security	$0	-1.05M	-100%	$0.00^*	0	Jun 6, 2023	Class B common stock	1.05M	$4.77	Direct

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

Explanation of Responses:

Id	Content
F1	Consists of 1,246,247 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

Consists of 1,246,247 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.