Form 4: Genie Energy Director Howard Jonas Adjusts Beneficial Ownership Through Trust Transfers

Howard Jonas, a director and 10% owner of Genie Energy Ltd., reports changes in beneficial ownership of Class A and Class B common stock due to transfers involving trusts.

Summary

• On April 5, 2024, Howard Jonas transferred 876,911 shares of Class B Common Stock from the HSJ 2024 Genie Annuity Trust to his direct holdings.
• Following this transaction, Jonas directly holds 1,097,064 shares of Class B Common Stock, which includes 923,786 shares held directly, 26,612 vested restricted shares, and 146,666 unvested restricted shares.
• The unvested restricted shares vest in tranches on August 3, 2024 (36,667 shares), August 3, 2025 (36,666 shares), and ratably on February 10, 2025 and February 10, 2026 (73,333 shares).
• On April 8, 2024, 196,791 shares of Class A Common Stock were transferred from a trust for the benefit of Jonas' child to Genie A Partners, L.P.
• Jonas also indirectly owns shares through HSJ 2022 Annuity Trust (628,640 shares), The Jonas Foundation (275,047 shares), and HSJ 2019 Remainder Trust (1,085,645 shares).

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating a neutral sentiment as it simply reports changes in stock ownership.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company insider and is typical for publicly traded companies. It doesn't necessarily indicate a change in the company's prospects but provides transparency into the holdings of key individuals.

Key Dates