PLUG insider report: Gregory Kenausis gains 8,450 shares, ownership 451,973

Rhea-AI Filing Summary

Plug Power Inc. (PLUG) director Gregory Kenausis received 8,450 shares of common stock as compensation on 10/01/2025 at a reported price of $2.33 per share under the company's Non-Employee Director Compensation Plan. After the award, Mr. Kenausis beneficially owns 451,973 shares. The Form 4 was filed as a single reporting person filing and signed by an attorney-in-fact on 10/03/2025. The filing records a standard director compensation grant rather than an open-market purchase.

Positive

• Director equity award of 8,450 shares aligns management incentives with shareholders
• Total beneficial ownership of 451,973 shares indicates meaningful insider stake

Negative

• None.

Insights

Corporate Governance Analyst

Director received equity compensation of $2.33 per share on 10/01/2025.

This Form 4 discloses a routine equity award to a non-employee director under the company's stated compensation plan. The transaction is recorded as an acquisition of 8,450 shares, increasing the director's total holdings to 451,973 shares.

Because the award is compensation-related and not a market purchase, it primarily reflects standard governance pay practices rather than a personal buy/sell decision by the director; it should be interpreted as part of the director's compensation structure.

Monitorable fact: the award date is 10/01/2025.

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

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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^*

Kenausis Gregory

(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)
10/01/2025

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	10/01/2025		A(1)		8,450	A	$2.33	451,973	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

Explanation of Responses:

1. Compensation awarded to directors pursuant to Plug Power Inc.'s Non-Employee Director Compensation Plan.

	/s/ Gerard L. Conway Jr., Attorney-in-Fact	10/03/2025
	** 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

What did Plug Power (PLUG) director Gregory Kenausis report on Form 4?

He reported receiving 8,450 shares as compensation on 10/01/2025 at a price of $2.33 per share.

How many shares does Gregory Kenausis beneficially own after the transaction?

Following the award, he beneficially owns 451,973 shares.

Was the reported transaction a market purchase or compensation?

The Form 4 notes the shares were awarded as compensation under Plug Power's Non-Employee Director Compensation Plan.

When was the transaction and when was the Form 4 signed?

The transaction date is 10/01/2025, and the Form 4 was signed by an attorney-in-fact on 10/03/2025.

Who filed the Form 4 for Gregory Kenausis?

The filing indicates it was signed by Gerard L. Conway Jr., Attorney-in-Fact on behalf of the reporting person.