Plug Power awards options to top legal executive
Plug Power Inc. reported that executive Gerard L. Conway Jr., its General Counsel, Corporate Secretary and Executive Vice President, received two new stock option awards.
Rhea-AI Filing Summary
Plug Power Inc. reported that executive Gerard L. Conway Jr., its General Counsel, Corporate Secretary and Executive Vice President, received two new stock option awards. He was granted options covering 362,694 shares of common stock at an exercise price of $2.83 per share and options covering 357,143 shares at an exercise price of $2.57 per share.
Both option grants were awarded under Plug Power Inc.'s 2021 Stock Option and Incentive Plan, as amended, and each grant is scheduled to vest in three equal annual installments after the grant date, conditioned on his continued service with the company through each vesting date. Following these awards, the reported holdings for each respective option series match the granted amounts, indicating newly established positions rather than exercises of existing options.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 719,837 shares
Grant/Award
2 txns
Insider
Conway Gerard L JR
Role
Gen. Coun, Corp Sec., Exec. VP
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 357,143 | $0.00 | $0.00 |
| Grant/Award | Stock Option (Right to Buy) | 362,694 | $0.00 | $0.00 |
Holdings After Transaction:
Stock Option (Right to Buy) — 719,837 contracts (Direct)
Footnotes (2)
- F1. Awarded pursuant to Plug Power Inc.'s 2021 Stock Option and Incentive Plan, as amended.
- F2. The shares underlying this stock option shall vest in three equal annual installments following the grant date, subject to the Reporting Person's continued service on each such vesting date.
Key Figures
Option grant 1 size: 362,694 options
Option grant 1 exercise price: $2.83 per share
Option grant 2 size: 357,143 options
+5 more
8 metrics
Option grant 1 size
362,694 options
Right to buy Plug Power common stock
Option grant 1 exercise price
$2.83 per share
Exercise price for 362,694-share option grant
Option grant 2 size
357,143 options
Right to buy Plug Power common stock
Option grant 2 exercise price
$2.57 per share
Exercise price for 357,143-share option grant
Grant vesting schedule
Three equal annual installments
Vesting conditioned on continued service after grant date
Option expiration date
June 25, 2036
Expiration for both stock option grants
Underlying common shares grant 1
362,694 shares
Common stock underlying first stock option grant
Underlying common shares grant 2
357,143 shares
Common stock underlying second stock option grant
Key Terms
Stock Option (Right to Buy), 2021 Stock Option and Incentive Plan, exercise price, vesting, +1 more
5 terms
Stock Option (Right to Buy) financial
"security_title: Stock Option (Right to Buy)"
2021 Stock Option and Incentive Plan financial
"Awarded pursuant to Plug Power Inc.'s 2021 Stock Option and Incentive Plan, as amended."
exercise price financial
"conversion_or_exercise_price: 2.8300 and 2.5700"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
vesting financial
"shall vest in three equal annual installments following the grant date"
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
grant/award acquisition financial
"transaction_action: grant/award acquisition"
FAQ
What did Plug Power (PLUG) report in this Form 4 for Gerard L. Conway Jr.?
Plug Power reported that executive Gerard L. Conway Jr. received two stock option grants as compensation. These awards give him rights to buy Plug Power common shares at fixed exercise prices, subject to multi-year vesting tied to continued service.
How many Plug Power (PLUG) stock options were granted to Gerard L. Conway Jr.?
Gerard L. Conway Jr. was granted options over 362,694 shares and a separate grant over 357,143 shares of Plug Power common stock. These derivative awards together establish sizable potential equity exposure if the options vest and are eventually exercised.
What are the exercise prices of the new Plug Power (PLUG) stock options?
The new stock option grants carry exercise prices of $2.83 per share and $2.57 per share. These exercise prices define the cost at which Conway can buy Plug Power common stock if the options vest and he chooses to exercise them.
When do Gerard L. Conway Jr.’s Plug Power (PLUG) options expire?
Both Plug Power stock option grants to Gerard L. Conway Jr. are scheduled to expire on June 25, 2036. This long-dated expiration gives a substantial time window in which vested options could be exercised for Plug Power common shares.
How will Gerard L. Conway Jr.’s Plug Power (PLUG) options vest?
Each Plug Power stock option grant will vest in three equal annual installments following the grant date. Vesting is subject to Conway’s continued service with the company on each vesting date, aligning the awards with ongoing executive tenure.
Under which plan were the Plug Power (PLUG) options to Gerard L. Conway Jr. awarded?
The options were awarded under Plug Power Inc.'s 2021 Stock Option and Incentive Plan, as amended. This plan governs the terms of equity-based compensation grants, including stock options, made to eligible participants such as senior executives.
AI-generated analysis. How Rhea-AI works. Not financial advice.
