STOCK TITAN

[Form 4] Plug Power Inc. Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4
Rhea-AI Filing Summary

On 22 Jul 2025, MillerKnoll (MLKN) General Counsel Jacqueline Hourigan Rice converted 32,018 restricted stock units into common shares at a $0 exercise price (Code M). To cover withholding taxes (Code F), 14,488.129 of those shares were automatically sold at $19.50, resulting in a net increase of 17,529.871 shares.

Following the transactions, Rice directly owns 46,350.1981 MLKN shares versus 28,820.3271 prior to the filing, and still holds 98,747 unvested RSUs (51,699 cliff-vesting FY-24 bonus grant and 47,048 under a three-year schedule). The activity stems from incentive-plan elections rather than open-market trading, and no Rule 10b5-1 trading plan is referenced.

The filing signals continued equity alignment by a senior officer but is largely routine compensation-related and does not, by itself, alter MillerKnoll’s fundamental outlook.

Il 22 luglio 2025, Jacqueline Hourigan Rice, General Counsel di MillerKnoll (MLKN), ha convertito 32.018 unità azionarie vincolate in azioni ordinarie con un prezzo di esercizio di $0 (Codice M). Per coprire le tasse di ritenuta (Codice F), 14.488,129 di queste azioni sono state vendute automaticamente a $19,50, con un aumento netto di 17.529,871 azioni.

Dopo queste operazioni, Rice possiede direttamente 46.350,1981 azioni MLKN, rispetto alle 28.820,3271 precedenti alla comunicazione, e detiene ancora 98.747 RSU non maturate (51.699 relative al bonus FY-24 con maturazione a scadenza e 47.048 secondo un piano triennale). L’attività deriva da scelte legate al piano incentivante e non da operazioni sul mercato aperto, senza alcun riferimento a un piano di trading secondo la regola 10b5-1.

La comunicazione indica un continuo allineamento azionario da parte di un dirigente senior, ma è principalmente una questione di compensi e non modifica, di per sé, le prospettive fondamentali di MillerKnoll.

El 22 de julio de 2025, Jacqueline Hourigan Rice, Asesora General de MillerKnoll (MLKN), convirtió 32.018 unidades restringidas de acciones en acciones comunes con un precio de ejercicio de $0 (Código M). Para cubrir los impuestos retenidos (Código F), 14.488,129 de esas acciones se vendieron automáticamente a $19,50, resultando en un aumento neto de 17.529,871 acciones.

Tras estas transacciones, Rice posee directamente 46.350,1981 acciones de MLKN, frente a las 28.820,3271 antes de la presentación, y aún mantiene 98.747 RSU no adquiridas (51.699 correspondientes al bono FY-24 con adquisición en bloque y 47.048 bajo un calendario de tres años). La actividad proviene de elecciones dentro del plan de incentivos y no de operaciones en el mercado abierto, sin referencia a un plan de comercio bajo la regla 10b5-1.

La presentación indica una continua alineación accionarial por parte de un alto ejecutivo, pero es principalmente una cuestión relacionada con la compensación y no altera, por sí sola, las perspectivas fundamentales de MillerKnoll.

2025년 7월 22일, MillerKnoll(MLKN) 법률 고문 Jacqueline Hourigan Rice32,018개의 제한 주식 단위를 행사가격 $0(코드 M)으로 보통주로 전환했습니다. 원천징수세(코드 F)를 충당하기 위해 14,488.129주의 주식이 자동으로 주당 $19.50에 매도되어, 순 증가 주식 수는 17,529.871주가 되었습니다.

이 거래 이후 Rice는 신고 전 보유했던 28,820.3271주에서 직접 46,350.1981주를 보유하게 되었으며, 여전히 98,747개의 미확정 RSU(51,699주는 FY-24 보너스 일괄 취득, 47,048주는 3년 일정)에 대한 권리를 가지고 있습니다. 이 활동은 공개 시장 거래가 아닌 인센티브 플랜 선택에 따른 것이며, Rule 10b5-1 거래 계획은 언급되지 않았습니다.

이번 신고는 고위 임원의 지속적인 주식 보유 의지를 보여주지만, 주로 보상 관련 일상적인 거래로 MillerKnoll의 근본적인 전망에는 별다른 영향을 미치지 않습니다.

Le 22 juillet 2025, Jacqueline Hourigan Rice, conseillère juridique générale de MillerKnoll (MLKN), a converti 32 018 unités d’actions restreintes en actions ordinaires à un prix d’exercice de 0 $ (Code M). Pour couvrir les taxes à la source (Code F), 14 488,129 de ces actions ont été vendues automatiquement à 19,50 $, générant une augmentation nette de 17 529,871 actions.

Suite à ces transactions, Rice détient directement 46 350,1981 actions MLKN, contre 28 820,3271 avant le dépôt, et détient toujours 98 747 RSU non acquises (51 699 liées à la prime FY-24 avec acquisition en bloc et 47 048 selon un calendrier sur trois ans). Cette activité provient d’élections dans le cadre du plan d’incitation et non de transactions sur le marché ouvert, sans référence à un plan de trading selon la règle 10b5-1.

Le dépôt indique un alignement continu en actions d’un cadre supérieur, mais il s’agit principalement d’une opération liée à la rémunération et ne modifie pas, en soi, les perspectives fondamentales de MillerKnoll.

Am 22. Juli 2025 wandelte Jacqueline Hourigan Rice, General Counsel von MillerKnoll (MLKN), 32.018 eingeschränkte Aktieneinheiten zu einem Ausübungspreis von 0 $ (Code M) in Stammaktien um. Zur Deckung der Quellensteuer (Code F) wurden automatisch 14.488,129 dieser Aktien zum Preis von 19,50 $ verkauft, was zu einem Nettozuwachs von 17.529,871 Aktien führte.

Nach diesen Transaktionen besitzt Rice nun direkt 46.350,1981 MLKN-Aktien gegenüber 28.820,3271 vor der Meldung und hält weiterhin 98.747 unverfallbare RSUs (51.699 aus dem FY-24 Bonus mit Cliff-Vesting und 47.048 nach einem dreijährigen Plan). Die Aktivität resultiert aus Anreizplan-Wahlen und nicht aus offenen Marktgeschäften, und es wird kein Rule 10b5-1 Handelsplan erwähnt.

Die Meldung signalisiert eine fortgesetzte Aktienausrichtung eines leitenden Angestellten, ist jedoch überwiegend routinebedingt im Zusammenhang mit Vergütungen und ändert an der fundamentalen Einschätzung von MillerKnoll nichts.

Positive
  • Insider net share accumulation: Rice’s direct holdings rose by ~61%, indicating increased alignment with shareholder interests.
  • Equity in lieu of cash bonus: Executive elected RSUs over cash, strengthening pay-for-performance incentives.
Negative
  • Share disposition: 14,488 shares were sold (withheld) at $19.50, modestly adding to market float, though motivated by taxes.

Insights

TL;DR: Routine RSU vesting; officer’s net share balance up ~61%, no open-market buying.

The filing shows Rice converting RSUs and withholding shares for taxes, a standard executive action. The net addition of 17.5k shares raises her direct stake to 46.3k, improving alignment with shareholders. Because the stock sales were compulsory for tax, they do not imply bearish sentiment. Retention of nearly 99k RSUs suggests further equity upside exposure. Market impact is minimal; no cash proceeds or strategic signals emerge.

TL;DR: Compensation election converted cash bonus to equity, enhancing pay-for-performance linkage.

Rice chose RSUs instead of a cash bonus, reinforcing MillerKnoll’s long-term incentive philosophy. The cliff-vesting structure (1-year) and separate 3-year vesting schedule balance retention and motivation. Automatic sale for taxes adheres to best-practice compliance under Rule 16b-3. Overall governance view remains positive, but the event is not financially material to the company.

Il 22 luglio 2025, Jacqueline Hourigan Rice, General Counsel di MillerKnoll (MLKN), ha convertito 32.018 unità azionarie vincolate in azioni ordinarie con un prezzo di esercizio di $0 (Codice M). Per coprire le tasse di ritenuta (Codice F), 14.488,129 di queste azioni sono state vendute automaticamente a $19,50, con un aumento netto di 17.529,871 azioni.

Dopo queste operazioni, Rice possiede direttamente 46.350,1981 azioni MLKN, rispetto alle 28.820,3271 precedenti alla comunicazione, e detiene ancora 98.747 RSU non maturate (51.699 relative al bonus FY-24 con maturazione a scadenza e 47.048 secondo un piano triennale). L’attività deriva da scelte legate al piano incentivante e non da operazioni sul mercato aperto, senza alcun riferimento a un piano di trading secondo la regola 10b5-1.

La comunicazione indica un continuo allineamento azionario da parte di un dirigente senior, ma è principalmente una questione di compensi e non modifica, di per sé, le prospettive fondamentali di MillerKnoll.

El 22 de julio de 2025, Jacqueline Hourigan Rice, Asesora General de MillerKnoll (MLKN), convirtió 32.018 unidades restringidas de acciones en acciones comunes con un precio de ejercicio de $0 (Código M). Para cubrir los impuestos retenidos (Código F), 14.488,129 de esas acciones se vendieron automáticamente a $19,50, resultando en un aumento neto de 17.529,871 acciones.

Tras estas transacciones, Rice posee directamente 46.350,1981 acciones de MLKN, frente a las 28.820,3271 antes de la presentación, y aún mantiene 98.747 RSU no adquiridas (51.699 correspondientes al bono FY-24 con adquisición en bloque y 47.048 bajo un calendario de tres años). La actividad proviene de elecciones dentro del plan de incentivos y no de operaciones en el mercado abierto, sin referencia a un plan de comercio bajo la regla 10b5-1.

La presentación indica una continua alineación accionarial por parte de un alto ejecutivo, pero es principalmente una cuestión relacionada con la compensación y no altera, por sí sola, las perspectivas fundamentales de MillerKnoll.

2025년 7월 22일, MillerKnoll(MLKN) 법률 고문 Jacqueline Hourigan Rice32,018개의 제한 주식 단위를 행사가격 $0(코드 M)으로 보통주로 전환했습니다. 원천징수세(코드 F)를 충당하기 위해 14,488.129주의 주식이 자동으로 주당 $19.50에 매도되어, 순 증가 주식 수는 17,529.871주가 되었습니다.

이 거래 이후 Rice는 신고 전 보유했던 28,820.3271주에서 직접 46,350.1981주를 보유하게 되었으며, 여전히 98,747개의 미확정 RSU(51,699주는 FY-24 보너스 일괄 취득, 47,048주는 3년 일정)에 대한 권리를 가지고 있습니다. 이 활동은 공개 시장 거래가 아닌 인센티브 플랜 선택에 따른 것이며, Rule 10b5-1 거래 계획은 언급되지 않았습니다.

이번 신고는 고위 임원의 지속적인 주식 보유 의지를 보여주지만, 주로 보상 관련 일상적인 거래로 MillerKnoll의 근본적인 전망에는 별다른 영향을 미치지 않습니다.

Le 22 juillet 2025, Jacqueline Hourigan Rice, conseillère juridique générale de MillerKnoll (MLKN), a converti 32 018 unités d’actions restreintes en actions ordinaires à un prix d’exercice de 0 $ (Code M). Pour couvrir les taxes à la source (Code F), 14 488,129 de ces actions ont été vendues automatiquement à 19,50 $, générant une augmentation nette de 17 529,871 actions.

Suite à ces transactions, Rice détient directement 46 350,1981 actions MLKN, contre 28 820,3271 avant le dépôt, et détient toujours 98 747 RSU non acquises (51 699 liées à la prime FY-24 avec acquisition en bloc et 47 048 selon un calendrier sur trois ans). Cette activité provient d’élections dans le cadre du plan d’incitation et non de transactions sur le marché ouvert, sans référence à un plan de trading selon la règle 10b5-1.

Le dépôt indique un alignement continu en actions d’un cadre supérieur, mais il s’agit principalement d’une opération liée à la rémunération et ne modifie pas, en soi, les perspectives fondamentales de MillerKnoll.

Am 22. Juli 2025 wandelte Jacqueline Hourigan Rice, General Counsel von MillerKnoll (MLKN), 32.018 eingeschränkte Aktieneinheiten zu einem Ausübungspreis von 0 $ (Code M) in Stammaktien um. Zur Deckung der Quellensteuer (Code F) wurden automatisch 14.488,129 dieser Aktien zum Preis von 19,50 $ verkauft, was zu einem Nettozuwachs von 17.529,871 Aktien führte.

Nach diesen Transaktionen besitzt Rice nun direkt 46.350,1981 MLKN-Aktien gegenüber 28.820,3271 vor der Meldung und hält weiterhin 98.747 unverfallbare RSUs (51.699 aus dem FY-24 Bonus mit Cliff-Vesting und 47.048 nach einem dreijährigen Plan). Die Aktivität resultiert aus Anreizplan-Wahlen und nicht aus offenen Marktgeschäften, und es wird kein Rule 10b5-1 Handelsplan erwähnt.

Die Meldung signalisiert eine fortgesetzte Aktienausrichtung eines leitenden Angestellten, ist jedoch überwiegend routinebedingt im Zusammenhang mit Vergütungen und ändert an der fundamentalen Einschätzung von MillerKnoll nichts.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Mahtani Kavita

(Last) (First) (Middle)
C/O PLUG POWER INC.
125 VISTA BOULEVARD

(Street)
SLINGERLANDS NY 12159

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
PLUG POWER INC [ PLUG ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
07/03/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 07/03/2025 A 76,531(1) A $0.00 208,813 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy)(2) $1.47 07/03/2025 A 76,531 (3) 07/03/2035 Common Stock 76,531 $0 76,531 D
Explanation of Responses:
1. Consists of a restricted stock award made pursuant to the Plug Power Inc. 2021 Stock Option and Incentive Plan, as amended, in accordance with the Non-Employee Director Compensation Plan. The restricted stock shall vest in full on the earlier of (i) first anniversary of the grant date or (ii) the date of the next annual meeting which is at least fifty (50) weeks after the immediately preceding year's annual meeting.
2. Stock option granted pursuant to the Plug Power Inc. 2021 Stock Option and Incentive Plan, as amended, in accordance with the Non-Employee Director Compensation Plan.
3. The options shall vest in full on the earlier of (i) first anniversary of the grant date or (ii) the date of the next annual meeting which is at least fifty (50) weeks after the immediately preceding year's annual meeting.
/s/ Gerard L. Conway Jr., Attorney-in-Fact 07/24/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many MillerKnoll shares does Jacqueline Rice now own?

After the 22 Jul 2025 transactions, she directly owns 46,350.1981 MLKN shares.

What was the size of the RSU conversion in the July 2025 Form 4?

Rice converted 32,018 RSUs into common shares at a $0 exercise price.

Were the shares sold on the open market?

No discretionary sales occurred; 14,488 shares were automatically withheld at $19.50 solely to cover taxes.

Does the filing mention a 10b5-1 trading plan?

The Form 4 does not reference any Rule 10b5-1 trading plan.

Why does Rice still hold unvested RSUs after this transaction?

She retains 98,747 RSUs from a fiscal-2024 bonus grant and a separate three-year award that continue to vest over time.
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