Form 4: Genie Energy Director Howard Jonas Transfers Shares to Marital Trust

Howard Jonas, a director and 10% owner of Genie Energy Ltd., transferred 950,398 shares of Class B Common Stock to the Debbie Y. Jonas 2018 Marital Trust.

Summary

• On June 14, 2024, Howard Jonas, a director and 10% owner of Genie Energy Ltd., engaged in a transaction involving Class B Common Stock.
• He transferred 950,398 shares from his wife's direct holdings to the Debbie Y. Jonas 2018 Marital Trust, a trust for the benefit of himself and his wife.
• Following the transaction, Mr. Jonas continues to hold shares indirectly through various trusts and partnerships, including the HSJ 2022 Annuity Trust (628,640 shares), The Jonas Foundation (275,047 shares), HSJ 2019 Remainder Trust (1,085,645 shares), and Genie A Partners, L.P. (1,574,326 shares of Class A Common Stock).
• He also directly holds 146,666 unvested restricted shares of Class B common stock, vesting in tranches on August 3, 2024, August 3, 2025, February 10, 2025, and February 10, 2026.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing a transfer of shares. It doesn't inherently convey positive or negative sentiment.

Industry Context

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

Related Party Transactions

• The transfer of shares to the Debbie Y. Jonas 2018 Marital Trust, a trust benefiting Howard Jonas and his wife, constitutes a related party transaction.

Stakeholder Impact

• The transaction itself is unlikely to have a significant immediate impact on stakeholders.
• However, transparency in insider transactions is important for maintaining investor confidence.

Key Dates