Genie Energy Ltd. Announces Annual Meeting of Stockholders
Ticker: GNE · Form: DEF 14A · Filed: Apr 1, 2024 · CIK: 1528356
Sentiment: neutral
Topics: proxy statement, annual meeting, stockholders, executive compensation, director election
TL;DR
<b>Genie Energy Ltd. is holding its Annual Meeting on May 8, 2024, to elect directors, approve stock plan amendments, and vote on executive compensation.</b>
AI Summary
Genie Energy Ltd. (GNE) filed a Proxy Statement (DEF 14A) with the SEC on April 1, 2024. Genie Energy Ltd. will hold its Annual Meeting of Stockholders on May 8, 2024, at 11:00 a.m. ET. The meeting will take place at the company's offices located at 520 Broad Street, 4th Floor, Newark, New Jersey. Key items of business include the election of five directors, approval of an amendment to the Stock Option and Incentive Plan to increase available shares by 180,000, and an advisory vote on executive compensation. Stockholders of record as of March 11, 2024, are eligible to vote. The agenda also includes a vote on the frequency of future advisory votes on executive compensation.
Why It Matters
For investors and stakeholders tracking Genie Energy Ltd., this filing contains several important signals. This filing is a proxy statement, indicating the company is seeking shareholder votes on important corporate governance matters. The proposed amendment to the Stock Option and Incentive Plan could impact future equity compensation and shareholder dilution.
Risk Assessment
Risk Level: low — Genie Energy Ltd. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain significant new financial or operational information that would alter the company's risk profile.
Analyst Insight
Shareholders should review the proposals regarding director elections and executive compensation to make informed voting decisions.
Key Numbers
- 5 — Directors to be elected (Item 1 of the business agenda.)
- 180,000 — Additional shares for stock plan (Proposed increase in shares available under the Stock Option and Incentive Plan.)
- May 8, 2024 — Annual Meeting Date (Date of the Annual Meeting of Stockholders.)
- March 11, 2024 — Record Date (Date to determine eligibility for voting.)
Key Players & Entities
- Genie Energy Ltd. (company) — Registrant and filer of the proxy statement.
- May 8, 2024 (date) — Date of the Annual Meeting of Stockholders.
- March 11, 2024 (date) — Record date for determining stockholders eligible to vote.
- 180,000 (dollar_amount) — Number of additional shares to be made available under the Stock Option and Incentive Plan.
FAQ
When did Genie Energy Ltd. file this DEF 14A?
Genie Energy Ltd. filed this Proxy Statement (DEF 14A) with the SEC on April 1, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Genie Energy Ltd. (GNE).
Where can I read the original DEF 14A filing from Genie Energy Ltd.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Genie Energy Ltd..
What are the key takeaways from Genie Energy Ltd.'s DEF 14A?
Genie Energy Ltd. filed this DEF 14A on April 1, 2024. Key takeaways: Genie Energy Ltd. will hold its Annual Meeting of Stockholders on May 8, 2024, at 11:00 a.m. ET.. The meeting will take place at the company's offices located at 520 Broad Street, 4th Floor, Newark, New Jersey.. Key items of business include the election of five directors, approval of an amendment to the Stock Option and Incentive Plan to increase available shares by 180,000, and an advisory vote on executive compensation..
Is Genie Energy Ltd. a risky investment based on this filing?
Based on this DEF 14A, Genie Energy Ltd. presents a relatively low-risk profile. The filing is a routine proxy statement for an annual meeting and does not contain significant new financial or operational information that would alter the company's risk profile.
What should investors do after reading Genie Energy Ltd.'s DEF 14A?
Shareholders should review the proposals regarding director elections and executive compensation to make informed voting decisions. The overall sentiment from this filing is neutral.
Risk Factors
- Election of Directors [medium — operational]: Shareholders will vote on the election of five directors, each for a one-year term.
- Stock Option and Incentive Plan Amendment [medium — financial]: The company seeks approval to increase the number of shares available under its stock option plan by 180,000.
- Advisory Vote on Executive Compensation [low — regulatory]: Shareholders will have an advisory vote on the compensation of named executive officers.
- Frequency of Advisory Vote on Executive Compensation [low — regulatory]: Shareholders will vote on whether to hold the advisory vote on executive compensation annually, every two years, or every three years.
Key Dates
- 2024-05-08: Annual Meeting of Stockholders — Shareholders will vote on key corporate matters including director elections and executive compensation.
- 2024-03-11: Record Date — Determines which stockholders are eligible to vote at the Annual Meeting.
Glossary
- DEF 14A
- Definitive Proxy Statement filed with the SEC. (Indicates the company is seeking shareholder votes on specific proposals.)
- Stock Option and Incentive Plan
- A plan that allows a company to grant stock options and other equity-based awards to employees and executives. (The proposed amendment could affect future equity compensation and shareholder dilution.)
Filing Stats: 4,271 words · 17 min read · ~14 pages · Grade level 14.5 · Accepted 2024-04-01 10:35:21
Key Financial Figures
- $0.01 — Class A common stock, par value $0.01 per share (“Class A Commo
- $120,000 — the last three years, more than $120,000 in direct compensation from the Company
- $1 — ears, exceeds the greater of (a) $1 million or (b) two percen
Filing Documents
- ea0202899-01.htm (DEF 14A) — 999KB
- tjoyce_sig.jpg (GRAPHIC) — 27KB
- tproxy_001.jpg (GRAPHIC) — 1190KB
- tproxy_002.jpg (GRAPHIC) — 1081KB
- tproxy_003.jpg (GRAPHIC) — 1384KB
- 0001213900-24-028338.txt ( ) — 6071KB
From the Filing
DEF 14A 1 ea0202899-01.htm PROXY STATEMENT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ SCHEDULE 14A _________________ Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant   Filed by a Party other than the Registrant   Check the appropriate box:   Preliminary Proxy Statement   Confidential, for Use of the Commission Only (as permitted by Rule 14a -6 (e)(2))   Definitive Proxy Statement   Definitive Additional Materials   Soliciting Material under Rule 14a -12 Genie Energy Ltd. (Name of Registrant as Specified In Its Charter) Payment of Filing Fee (Check the appropriate box):   No fee required.   Fee paid previously with preliminary materials.   Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a -6 (i)(1) and 0 -11 .   GENIE ENERGY LTD. 520 Broad Street Newark, New Jersey 07102 (973) 438-3500 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TIME AND DATE:   11:00 a.m., Eastern Time, on Wednesday, May 8, 2024. PLACE :   Genie Energy Ltd.’s offices at 520 Broad Street, 4 th Floor, Newark, New Jersey 07102. ITEMS OF BUSINESS :   1.        To elect five directors, each for a term of one year. 2.        To approve an amendment to the Genie Energy Ltd. Stock Option and Incentive Plan that will increase the number of shares of the Company’s Class B common stock available for the grant of awards thereunder by 180,000. 3.        To conduct an advisory vote on compensation of named executive officers. 4.        To vote on the frequency of the advisory vote on executive compensation: once a year, once every two years or once every three years. 5.        To transact other business as may properly come before the Annual Meeting and any adjournment or postponement thereof. RECORD DATE:   You can vote if you were a stockholder of record as of 5:00 p.m. Eastern time on March 11, 2024. PROXY VOTING:   You can vote either in person at the Annual Meeting or by proxy without attending the meeting. See details under the heading “How do I Vote?” ANNUAL MEETING IN-PERSON ADMISSION:   If you were a stockholder of record as of March 11, 2024, a form of personal photo identification must be presented in order to be admitted to the Annual Stockholders Meeting. If your shares are held in the name of a bank, broker or other holder of record, you must bring a brokerage statement or other written proof of ownership as of March 11, 2024 with you to the Annual Stockholders Meeting, as well as a form of personal photo identification. The Company requests that any stockholder seeking to attend the Annual Stockholders Meeting in person first email the Company’s investor relations department at invest@genie.com to RSVP. ANNUAL MEETING DIRECTIONS:   You may request directions to the Annual Meeting via email at invest@genie.com or by calling Genie Investor Relations at (973) 438 -3848 . Important Notice Regarding the Availability of Proxy Materials for the genie energy ltd. Stockholders Meeting to be Held on MAY 8, 2024 : The Notice of Annual Meeting and Proxy Statement and the 2023 Annual Report on Form 10-K are available at: https: // genie.com / investors /investor-relations/   BY ORDER OF THE BOARD OF DIRECTORS         Joyce Mason     Corporate Secretary Newark, New Jersey April 1, 2024   GENIE ENERGY LTD. 520 Broad Street Newark, New Jersey 07102 (973) 438-3500 _________________ PROXY STATEMENT _________________ GENERAL INFORMATION Introduction This Proxy Statement is being furnished to the stockholders of record of Genie Energy Ltd., a Delaware corporation (the “Company” or “Genie”) as of 5:00 p.m. Eastern Time on March 11, 2024, in connection with the solicitation by the Company’s Board of Directors (the “Board of Directors”) of proxies for use in voting at the Company’s 2024 Annual Meeting of Stockholders (the “Annual Meeting”). The Annual Meeting will be held on Wednesday, May 8, 2024 at 11:00 a.m., Eastern Time, at Genie Energy Ltd.’s offices at 520 Broad Street, 4 th Floor, Newark, New Jersey 07102. The shares of the Company’s Class&#x