Plug Power Adopts Executive Compensation Program to Strengthen Leadership Alignment with Shareholders

Rhea-AI Summary

Plug Power (NASDAQ: PLUG) has introduced a new executive compensation program allowing eligible executives to receive up to 75% of their compensation in company stock. The program, effective from the next open trading window through fiscal year-end, offers executives the flexibility to convert 25%, 50%, or 75% of their compensation - including base salary and certain cash bonuses - into PLUG shares.

CEO Andy Marsh emphasized that this initiative demonstrates leadership's confidence in the company's future and strengthens alignment with long-term shareholder interests. The program aims to increase executive equity stakes while fostering closer alignment with investors and stakeholders who support Plug's long-term vision.

Positive

• Executive interests aligned with shareholders through increased stock ownership
• Management shows confidence in company's future by accepting stock compensation
• Flexible program with multiple participation levels (25%, 50%, 75%)

Negative

• Potential increase in share count and dilution for existing shareholders

LATHAM, N.Y., Feb. 28, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a leading provider of hydrogen solutions, today announced the adoption of an executive compensation program that enables eligible executives to receive up to 75% of their compensation in the form of Plug stock. This initiative underscores the company’s commitment to aligning leadership interests with long-term shareholder value.

“As Plug continues to execute on its strategy, this program reinforces our leadership’s confidence in the company’s future and commitment to driving sustainable growth,” said Andy Marsh, CEO of Plug. “Any of us that choose to opt into this program will have an increased equity stake, and be further aligned with the investors and stakeholders who believe in our long-term vision.”

Under the program, eligible executives may elect to receive 25%, 50%, or 75% of their compensation in Plug stock, with the option applying to base salary and, in some cases, cash bonuses. The program will take effect at the next open trading window and remain in place through the end of the fiscal year.

For more information about Plug Power and its strategic initiatives, visit www.plugpower.com.

About Plug
Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.

With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants targeting commercial operation by year-end 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.

For more information, visit www.plugpower.com.

Plug Power Safe Harbor Statement
This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“Plug”), including but not limited to statements about Plug’s ability to execute on its current strategy and long-term vision; Plug’s ability to generate value for our stakeholders; and Plug’s ability to continue driving sustainable growth. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug’s public filings with the Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of Plug’s Annual Report on Form 10-K for the year ended December 31, 2023, Plug’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information.

MEDIA CONTACT
Fatimah Nouilati - Allison
plugPR@allisonpr.com

Source: PLUG

FAQ

What percentage of compensation can Plug Power executives convert to stock under the new program?

Executives can elect to receive 25%, 50%, or 75% of their compensation in Plug Power stock.

When will Plug Power's new executive compensation program take effect?

The program will begin at the next open trading window and continue through the end of the fiscal year.

What forms of compensation are eligible for conversion to PLUG stock?

The program applies to base salary and, in some cases, cash bonuses.

How does the new compensation program benefit PLUG shareholders?

It aligns leadership interests with shareholder value by increasing executives' equity stakes in the company.