Welcome to our dedicated page for Plug Power SEC filings (Ticker: PLUG), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Plug Power Inc. (NASDAQ: PLUG) files a range of documents with the U.S. Securities and Exchange Commission that shed light on its hydrogen-focused business, capital structure, and governance. On this page, investors can review PLUG’s key SEC filings and use AI-powered tools to interpret complex disclosures related to its integrated hydrogen ecosystem.
Plug’s proxy materials, such as the definitive proxy statement for a special meeting of stockholders, describe proposed amendments to the company’s charter. These include aligning voting standards with Section 242(d)(2) of the Delaware General Corporation Law and increasing authorized shares of common stock. The proxy explains why additional authorized shares are important for raising capital, meeting contractual obligations, and executing the company’s strategy.
Multiple Current Reports on Form 8-K detail material events, including a private offering of 6.75% Convertible Senior Notes due 2033, warrant and pre-funded warrant arrangements, amendments to an at-the-market sales agreement, and registration of shares underlying warrants. These filings outline how Plug refinances higher-cost debt, repurchases existing notes, and structures equity-linked securities to support working capital and general corporate purposes.
Other 8-K filings address topics such as leadership changes, investor symposiums, data center-related letters of intent, and hydrogen supply contracts, including Plug’s first liquid hydrogen award from NASA. Each filing provides specific terms, risk-related language, and descriptions of obligations that are important for understanding PLUG’s financial and operational commitments.
Through this SEC filings page, users can access PLUG’s 8-Ks, proxy statements, and other regulatory documents as they are made available via EDGAR. AI-driven summaries help explain technical sections on convertible notes, warrant structures, voting standards, and charter amendments, allowing investors to quickly identify the implications for dilution, financing flexibility, and governance.
Plug Power Inc. reported a governance change as its Board of Directors appointed Chief Executive Officer and President Jose Luis Crespo as a director. He is designated a Class III director and will serve until the company’s 2026 annual stockholders’ meeting or until a successor is elected.
Crespo has held multiple senior roles at the company since 2014, including Chief Revenue Officer, General Manager of Material Handling, and Executive Vice President. He receives no additional compensation for his board role, there are no related-party arrangements or family relationships disclosed, and his existing executive compensation remains unchanged.
Plug Power Inc. describes an end-to-end clean hydrogen business spanning electrolyzers, fuel cells, liquefaction, cryogenic equipment and liquid hydrogen production, with over 74,000 fuel cell systems deployed and more than 275 fueling stations, primarily serving large material-handling and industrial customers in North America and Europe.
The company reports heavy dependence on a few large customers, with Walmart representing 24.2% of 2025 revenue and a second customer 14.3%. Orders totaled about $724.1 million as of December 31, 2025, with contract terms ranging from 90 days to 10 years.
Plug highlights significant financial strain: a 2025 net loss of about $1.7 billion, an accumulated deficit of $8.2 billion, and negative operating cash flow, partly funded through $703.5 million of debt and finance obligations. Working capital was $799.7 million, including $368.5 million of cash and $186.7 million of current restricted cash.
The company details risks around hydrogen availability, supply-chain constraints, commodity price volatility, inflation, labor shortages and intense competition from batteries and other hydrogen technologies. It has suspended activity under a U.S. Department of Energy loan facility while discussing revised plans, and warns it may need additional capital or strategic transactions to continue executing its strategy.
Plug Power reported full-year 2025 revenue of $709.9M, up 12.9%, with fourth-quarter revenue of $225.2M and its first positive quarterly gross margin at 2.4% of sales. Q4 gross profit was $5.5M, a sharp improvement from a deep loss a year earlier, helped by higher volumes, better pricing, and Project Quantum Leap cost actions.
The company still posted a 2025 net loss attributable to Plug of $1.63B, including about $785.4M of impairment within roughly $763M of Q4 net charges tied to restructuring and capital transactions. Operating cash burn improved as net cash used in operating activities fell to $535.8M from $728.6M in 2024, and year-end unrestricted cash was $368.5M.
Plug outlined an agreement expected to generate over $275M from asset monetization supporting U.S. data center build-out and liquidity, and highlighted reduced capex and debt restructuring that extends maturities. The company reaffirmed targets for positive EBITDAS in Q4 2026, positive operating income by end of 2027, and full profitability by end of 2028. It also announced that Jose Luis Crespo will become Chief Executive Officer effective March 2, 2026.
Plug Power Inc. entered a definitive agreement to sell its Project Gateway real estate and related infrastructure in Genesee County, New York to Stream Data Centers. Plug expects gross proceeds of at least $132.5 million, rising to $142 million depending on closing timing and asset-removal conditions.
The transaction, which includes land, substation-related assets and certain assigned agreements, is targeted to close by the end of June 2026 and must close no later than June 30, 2026, subject to customary conditions such as insurable title, required approvals and the buyer securing a tenant lease. Plug describes this sale as the first step in a broader $275 million strategic infrastructure optimization and liquidity-improvement initiative expected to include two additional asset-related actions in 2026.
Plug Power Inc. stockholders approved a Charter amendment to increase the company’s authorized common stock from 1,500,000,000 shares to 3,000,000,000 shares. The amendment became effective on February 12, 2026, upon filing in Delaware.
At the reconvened special meeting, a quorum was present with 769,385,735 shares of common stock as of December 12, 2025. Stockholders also voted on a separate proposal to adjust voting requirements to align with Delaware law, but that proposal did not receive the required majority and was not approved.
Plug Power Inc. is updating investors on the timing of its Special Meeting of Stockholders. The company had previously adjourned the meeting several times and planned to reconvene it on February 17, 2026. It has now decided to accelerate the reconvened meeting to February 12, 2026 at 4:00 p.m. Eastern Time.
The meeting will be held in a fully virtual format, allowing stockholders to participate online, vote, and submit questions in real time. Stockholders of record as of December 12, 2025 remain entitled to attend and vote on Proposals 1 and 2, which are unchanged from the definitive proxy statement filed on December 12, 2025.
Plug Power Inc. reconvened its special meeting of stockholders on February 5, 2026 to consider two proposals. Based on preliminary results, approximately 39.63% of outstanding common shares voted in favor of Proposal 1 and 49.40% voted in favor of Proposal 2, below the level needed for approval.
Because neither proposal received sufficient support, the company further adjourned the special meeting to allow more time to solicit proxies. The meeting is scheduled to reconvene at 4:00 p.m. Eastern on February 17, 2026, and only Proposals 1 and 2 are expected to be considered. Stockholders of record as of December 12, 2025 remain entitled to vote using the same process, and previously submitted proxies remain valid unless changed or revoked.
Plug Power Inc. reported results of a special stockholder meeting held on January 29, 2026, where investors voted on changes to the company’s charter. Stockholders considered one proposal to adjust voting requirements to align with Section 242(d)(2) of Delaware law and another to increase the number of authorized common shares.
A quorum was present, with 732,799,970 common shares represented as of the December 12, 2025 record date. Although substantial votes were cast on all proposals, the meeting was adjourned to February 5, 2026 to allow additional proxy solicitation for the charter amendments.
Plug Power plans an investor question-and-answer townhall on February 2, 2026 to address stockholder questions about the charter proposals ahead of the reconvened virtual meeting.
Plug Power officer reports planned stock sale
Plug Power Inc. executive Benjamin Haycraft, the company’s CSO & GM EMEA, reported selling 40,000 shares of Plug Power common stock on January 12, 2026. The shares were sold at a price of $2.17 per share, according to the Form 4 filing.
The transaction was executed under a Rule 10b5-1 trading plan that Haycraft adopted on June 13, 2025, which is designed to allow pre-scheduled trades. After this sale, Haycraft beneficially owns 333,809 shares of Plug Power common stock.
Plug Power insider Benjamin Haycraft has filed a Form 144 notice to sell 40,000 shares of Plug Power common stock through RBC Capital Markets on the NASDAQ, with an aggregate market value of $86,800.00. The shares to be sold are part of common stock previously acquired via restricted stock unit (RSU) vesting transactions, including 4,250 shares on 01/31/2025, 16,667 shares on 10/17/2022, and 19,083 shares on 11/07/2024, all from the issuer.
Over the past three months, the filing shows sales of Plug Power securities for Haycraft’s account totaling 10,000 units on 11/10/2025 for gross proceeds of $29,200.00 and 40,000 units on 12/10/2025 for gross proceeds of $88,000.00. By signing the notice, the seller represents that he does not know of any material adverse information about Plug Power’s current or prospective operations that has not been publicly disclosed.