Genie Energy : Changes in Control - Form 8-K

Item 5.01. Changes in Control of Registrant.

On November 15, 2023, seven trusts, each for the benefit of a child of Howard S. Jonas, the Company's Executive Chairman and Chairman of the Board, with independent trustees, transferred an aggregate of 1,377,535 shares of Class A common stock of Genie Energy Ltd. (the "Company") (representing 87% of the issued and outstanding shares of the Class A common stock of the Company, and 56% of the aggregate voting power of all issued and outstanding shares of capital stock of the Company) to a limited partnership. Howard Jonas is the sole manager of the sole general partner of the limited partnership, and, therefore, has sole voting and dispositive power over the shares of Class A common stock held by the limited partnership. Following the transfer, Mr. Jonas will have approximately 61% of the aggregate voting power of all the issued and outstanding shares of capital stock of the Company and, therefore, the Company is a controlled company as defined in Section 303A of the New York Stock Exchange Listed Company Manual.