Form 4: Genie Energy Director Howard Jonas Reports Share Transfers and Holdings

Howard Jonas, a director and 10% owner of Genie Energy Ltd., reported the gifting of 950,398 Class B Common Stock shares and holdings of various direct and indirect ownership.

Summary

• On May 16, 2024, Howard Jonas, a director and 10% owner of Genie Energy Ltd., filed a Form 4.
• The filing reports a transaction where 950,398 shares of Class B Common Stock were disposed of as a gift.
• Simultaneously, 950,398 shares of Class B Common Stock were acquired as a gift.
• Following these transactions, Jonas directly owns 146,666 shares of Class B Common Stock, which includes 146,666 unvested restricted shares.
• These restricted shares vest in installments on August 3, 2024 (36,667 shares), August 3, 2025 (36,666 shares), February 10, 2025, and February 10, 2026 (73,333 shares ratably).
• Jonas also indirectly owns shares through his wife, HSJ 2022 Annuity Trust, The Jonas Foundation, HSJ 2019 Remainder Trust and Genie A Partners, L.P.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure of Genie Energy Ltd.

Key Dates