Plug Power CEO acquires 9,415 shares at $2.69; 918,343 direct

Plug Power Inc. (PLUG) reported an insider transaction by its CEO and director.

Accepted by SEC EDGAR 11/04/2025 - 04:30 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Plug Power Inc. (PLUG) reported an insider transaction by its CEO and director. On 10/31/2025, he acquired 9,415 shares of common stock at $2.69 per share, issued as fully vested stock under the company’s 2021 Stock Option and Incentive Plan pursuant to an election to receive a portion of salary and bonus in shares.

Following the transaction, beneficial ownership stood at 918,343 shares held directly, and 115,464 shares held indirectly through Plug Power’s 401(k) plan based on a plan statement as of October 31, 2025.

Insider Trade Summary

Grant/Award: 9,415 shares

Grant/Award 1 txn

Insider Marsh Andrew

Role CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	9,415	$2.69	$25K
Holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 918,343 shares (Direct); Common Stock — 115,464 shares (Indirect, 401(k) Plan)

Footnotes (2)

1. F1. Shares issued pursuant to a previously disclosed executive compensation program, pursuant to which the Reporting Person elected to receive payment of a portion of his base salary and bonus for the fiscal year ending December 31, 2025 in shares of the Issuer's common stock issued under the Plug Power Inc. 2021 Stock Option and Incentive Plan, as amended. The shares were fully vested upon grant.
2. F2. The Reporting Person holds 115,464 shares of common stock in Plug Power Inc.'s 401(k) plan. The information in this report is based on a plan statement as of October 31, 2025.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did PLUG’s CEO report?

He acquired 9,415 shares of Plug Power common stock on 10/31/2025 at $2.69 per share.

Why were the shares issued to the PLUG CEO?

They were issued under the 2021 Stock Option and Incentive Plan pursuant to an election to receive part of salary and bonus in stock.

Were the newly issued PLUG shares vested?

Yes, the filing states the shares were fully vested upon grant.

How many PLUG shares does the CEO own directly after the transaction?

He beneficially owns 918,343 shares directly after the reported transaction.

What are the CEO’s indirect PLUG holdings via the 401(k) plan?

He holds 115,464 shares indirectly through Plug Power’s 401(k) plan, based on a statement as of October 31, 2025.

What form reported the PLUG insider transaction?

It was disclosed on Form 4 under Section 16 reporting rules.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Marsh Andrew

(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
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/31/2025

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	10/31/2025		A(1)		9,415	A	$2.69	918,343	D
Common Stock								115,464	I	401(k) Plan(2)

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

Explanation of Responses:

1. Shares issued pursuant to a previously disclosed executive compensation program, pursuant to which the Reporting Person elected to receive payment of a portion of his base salary and bonus for the fiscal year ending December 31, 2025 in shares of the Issuer's common stock issued under the Plug Power Inc. 2021 Stock Option and Incentive Plan, as amended. The shares were fully vested upon grant.

2. The Reporting Person holds 115,464 shares of common stock in Plug Power Inc.'s 401(k) plan. The information in this report is based on a plan statement as of October 31, 2025.

	/s/ Gerard L. Conway Jr., Attorney-in-Fact	11/04/2025
	** 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.
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