Genie Energy Confirms NYSE Listing for Class B Common Stock
Ticker: GNE · Form: 8-K · Filed: Jan 26, 2024 · CIK: 1528356
Complexity: simple
Sentiment: neutral
Topics: compliance, regulatory-filing, stock-listing
TL;DR
**Genie Energy's 8-K confirms its Class B stock (GNE) is still trading on the NYSE.**
AI Summary
Genie Energy Ltd. filed an 8-K on January 26, 2024, reporting an event that occurred on January 23, 2024. This filing primarily serves to update the public on its Class B common stock, which trades under the symbol GNE on the New York Stock Exchange. For investors, this filing confirms the continued listing and trading of GNE stock, providing transparency and ensuring compliance with SEC regulations, which is important for maintaining investor confidence.
Why It Matters
This filing confirms Genie Energy's compliance with SEC regulations and the continued listing of its Class B common stock on the NYSE, which is crucial for market liquidity and investor trust.
Risk Assessment
Risk Level: low — This 8-K is a routine compliance filing and does not indicate any new financial or operational risks for Genie Energy Ltd.
Analyst Insight
A smart investor would note this as a routine compliance filing, confirming the stability of the stock's listing, but it offers no new financial or operational insights to drive investment decisions.
Key Numbers
- $0.01 — Par Value per Share (Par value of Genie Energy's Class B common stock)
Key Players & Entities
- Genie Energy Ltd. (company) — the registrant filing the 8-K
- New York Stock Exchange (company) — where Genie Energy's Class B common stock is registered
- GNE (company) — trading symbol for Genie Energy's Class B common stock
- January 23, 2024 (date) — date of the earliest event reported
- January 26, 2024 (date) — date the 8-K was filed
- $0.01 (dollar_amount) — par value per share of Class B common stock
FAQ
What is the purpose of this 8-K filing by Genie Energy Ltd.?
This 8-K filing, dated January 26, 2024, is a current report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, primarily to disclose information under Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits, with the earliest event reported on January 23, 2024.
What is the trading symbol and exchange for Genie Energy Ltd.'s Class B common stock?
Genie Energy Ltd.'s Class B common stock has the trading symbol GNE and is registered on the New York Stock Exchange.
What is the par value of Genie Energy Ltd.'s Class B common stock?
The par value of Genie Energy Ltd.'s Class B common stock is $.01 per share.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on January 23, 2024.
What is Genie Energy Ltd.'s business address and phone number?
Genie Energy Ltd.'s business address is 520 Broad Street, Newark, New Jersey 07102, and its telephone number is (973) 438-3500.
Filing Stats: 605 words · 2 min read · ~2 pages · Grade level 10.5 · Accepted 2024-01-26 08:51:05
Key Financial Figures
- $51 million — ourth quarter of 2023, the Company paid $51 million in premiums to its captive self-insuran
- $45.0 million — currently estimated to be approximately $45.0 million in the fourth quarter of 2023, as an in
Filing Documents
- ea192264-8k_genieenergy.htm (8-K) — 40KB
- ea192264ex99-1_genieenergy.htm (EX-99.1) — 10KB
- ex99-1_001.jpg (GRAPHIC) — 4KB
- 0001213900-24-006713.txt ( ) — 227KB
- gne-20240123.xsd (EX-101.SCH) — 3KB
- gne-20240123_lab.xml (EX-101.LAB) — 33KB
- gne-20240123_pre.xml (EX-101.PRE) — 22KB
- ea192264-8k_genieenergy_htm.xml (XML) — 3KB
01
Item 7.01 Regulation FD. On January 26, 2024 Genie Energy Ltd. (the "Company") issued the attached release (the "Release") announcing the Company's expansion of its consumer product portfolio and enhanced risk management initiatives. A copy of the Release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference. The Company is furnishing the information contained in this Report, including Exhibit 99.1, pursuant to Item 7.01 of Form 8-K promulgated by the Securities and Exchange Commission (the "SEC"). This information shall not be deemed to be "filed" with the SEC or incorporated by reference into any other filing with the SEC. Item 8.01 Other Events. The Company's internal operations now include a wholly-owned "captive" insurance subsidiary. In the fourth quarter of 2023, the Company paid $51 million in premiums to its captive self-insurance entity, providing coverage for a variety of risks. On January 23, 2024, the Company concluded that it will need to record a one-time, non-recurring, non-cash charge, which is currently estimated to be approximately $45.0 million in the fourth quarter of 2023, as an insurance loss reserve related to the coverage provided to the Company by the captive entity.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Document 99.1 Press Release, dated January 26, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. GENIE ENERGY LTD. By: /s/ Michael Stein Name: Michael Stein Title: Chief Executive Officer Dated: January 26, 2024 2 EXHIBIT INDEX Exhibit Number Document 99.1 Press Release, dated January 26, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 3