Statement of Changes in Beneficial Ownership (4)
February 13 2020 - 11:24AM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
JONAS HOWARD S |
2. Issuer Name and Ticker or Trading Symbol
Genie Energy Ltd.
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GNE
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Chairman of the Board |
(Last)
(First)
(Middle)
C/O GENIE ENERGY LTD., 520 BROAD STREET |
3. Date of Earliest Transaction
(MM/DD/YYYY)
2/11/2020 |
(Street)
NEWARK, NJ 07102
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Class B Common Stock, par value $.01 per share | | | | | | | | 1691155 | I | By HSJ 2019 Genie Annuity Trust II |
Class B Common Stock, par value $.01 per share | | | | | | | | 187820 | I | By Trust FBO Michael Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 491089 | I | By Trust FBO Joseph Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 489113 | I | By Trust FBO Tamar Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 490392 | I | By Trust FBO Rachel Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 490327 | I | By Trust FBO Jonathan Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 316310 | I | By Trust FBO David Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 374351 | I | By Trust FBO Samuel Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 515745 | I | By Trust FBO Miriam Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 482067 | I | By Trust FBO Leora Jonas (1) |
Class B Common Stock, par value $.01 per share | | | | | | | | 3549048 | I | By The Howard S. Jonas 2017 Annuity Trust |
Class B Common Stock, par value $.01 per share | | | | | | | | 1556 | I | Custodial for Son (Jonathan) |
Class B Common Stock, par value $.01 per share | | | | | | | | 1556 | I | Custodial for Daughter (Rachel) |
Class B Common Stock, par value $.01 per share | | | | | | | | 1556 | I | Custodial for Son (Joseph) |
Class B Common Stock, par value $.01 per share | | | | | | | | 1556 | I | Custodial for Daughter (Tamar) |
Class B Common Stock, par value $.01 per share | | | | | | | | 1556 | I | Custodial for Daughter (Miriam) |
Class B Common Stock, par value $.01 per share | | | | | | | | 275047 | I | By The Jonas Foundation |
Class A Common Stock, par value $.01 per share | | | | | | | | 1574326 | I | By The Howard S. Jonas 2017 Annuity Trust |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Deferred Stock Units | (2) | 2/11/2020 | | A | | 110000 | | (2) | 2/10/2021 (3) | Class B Common Stock | 110000 | $0.00 | 110000 | D | |
Deferred Stock Units | (4) | 2/11/2020 | | A | | 110000 | | (4) | 2/10/2021 (5) | Class B Common Stock | 110000 | $0.00 | 110000 | D | |
Explanation of Responses: |
(1) | These shares are held in trust for the benefit of the Reporting Person's children. The Reporting Person's spouse is trustee of the trust. Howard Jonas disclaims beneficial ownership of these shares. |
(2) | Each Deferred Stock Unit ("DSU") entitles the Reporting Person to a grant of 110,000 restricted shares of the Registrant's Class B common stock the business day following the date the stock has a 30 trading day average closing price of $9.04 or greater. Should the restricted stock be granted, the shares shall vest ratably over a three year period, commencing on the first anniversary of the restricted stock grant date. |
(3) | The DSUs will expire on February 10, 2021 should the 30 trading day average closing price of $9.04 or greater not occur, in which case no shares of restricted stock shall be granted. |
(4) | Each DSU entitles the Reporting Person to a grant of 110,000 restricted shares of the Registrant's Class B common stock the business day following the date the stock has 30 trading day average closing price of $10.84 or greater. Should the restricted stock be granted, the shares shall vest ratably over a three year period, commencing on the first anniversary of the restricted stock grant date. |
(5) | The DSUs will expire on February 10, 2021 should the 30 trading day average closing price of $10.84 or greater not occur, in which case no shares of restricted stock shall be granted. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
JONAS HOWARD S C/O GENIE ENERGY LTD. 520 BROAD STREET NEWARK, NJ 07102 | X | X | Chairman of the Board |
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Signatures
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Joyce J. Mason, by Power of Attorney | | 2/13/2020 |
**Signature of Reporting Person | Date |
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