Plug Power (PLUG) CFO granted 389K restricted shares and 510K stock options

Rhea-AI Filing Summary

Plug Power Inc. reported that CFO and Executive VP Paul B. Middleton received new equity-based compensation. He was granted 389,105 shares of common stock as a restricted stock award under the company’s 2021 Stock Option and Incentive Plan. These shares vest in three equal annual installments following the grant date, contingent on his continued service.

Middleton was also granted a stock option for 510,204 shares of common stock at an exercise price of $2.57 per share, expiring on June 25, 2036, which will vest in three equal annual installments on the same continued-service terms. Following these awards, he directly holds 2,947,169 shares of common stock and indirectly holds 64,492 shares in Plug Power’s 401(k) plan based on a statement as of June 29, 2026.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider MIDDLETON PAUL B

Role CFO & Executive VP

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	510,204	$0.00	--
Grant/Award	Common Stock	389,105	$0.00	--
holding	Common Stock	--	--	--

Holdings After Transaction: Stock Option (Right to Buy) — 510,204 shares (Direct, null); Common Stock — 2,947,169 shares (Direct, null); Common Stock — 64,492 shares (Indirect, 401(k) Plan)

Footnotes (1)

1. Consists of a restricted stock award made pursuant to the Plug Power Inc. 2021 Stock Option and Incentive Plan, as amended. The restricted shall vest in three equal annual installments following the grant date, subject to the Reporting Person's continued service on each such vesting date. The Reporting Person holds 64,492 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 June 29, 2026. Awarded pursuant to Plug Power Inc.'s 2021 Stock Option and Incentive Plan, as amended. 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

Restricted stock award: 389,105 shares Stock option size: 510,204 shares Option exercise price: $2.57 per share +3 more

6 metrics

Restricted stock award 389,105 shares Common stock granted to CFO as restricted stock

Stock option size 510,204 shares Option covering common stock granted to CFO

Option exercise price $2.57 per share Stock option strike price

Option expiration June 25, 2036 Stock option expiration date

Direct holdings after grant 2,947,169 shares CFO common stock directly owned after awards

401(k) plan holdings 64,492 shares Common stock in Plug Power 401(k) as of June 29, 2026

Key Terms

restricted stock award, 401(k) Plan, Stock Option (Right to Buy), 2021 Stock Option and Incentive Plan, +1 more

5 terms

restricted stock award financial

"Consists of a restricted stock award made pursuant to the Plug Power Inc. 2021 Stock Option and Incentive Plan"

A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.

401(k) Plan financial

"The Reporting Person holds 64,492 shares of common stock in Plug Power Inc.'s 401(k) plan."

A 401(k) plan is a workplace retirement account that lets employees set aside part of their pay into a tax-advantaged savings pot, often with employers adding matching contributions — like a workplace piggy bank for future income. It matters to investors because the amount people save and how employers fund these plans influence consumer spending, corporate payroll costs and the flow of money into financial markets, which can affect stock prices and company valuations.

Stock Option (Right to Buy) financial

"security_title": "Stock Option (Right to Buy)""

2021 Stock Option and Incentive Plan financial

"made pursuant to the Plug Power Inc. 2021 Stock Option and Incentive Plan, as amended."

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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/29/2026 - 04:17 PM Accepted by SEC EDGAR 06/29/2026 - 04:17 PM Learn about SEC filing dates

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^*

MIDDLETON PAUL B

(Last) (First) (Middle)

C/O PLUG POWER INC.

125 VISTA BOULEVARD

(Street)

SLINGERLANDS NEW YORK 12159

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PLUG POWER INC [ PLUG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO & Executive VP

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	06/25/2026		A(1)		389,105	A	$0.00	2,947,169	D
Common Stock								64,492	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
Stock Option (Right to Buy)(3)	$2.57	06/25/2026		A		510,204		(4)	06/25/2036	Common Stock	510,204	$0.00	510,204	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. The restricted shall vest in three equal annual installments following the grant date, subject to the Reporting Person's continued service on each such vesting date.

2. The Reporting Person holds 64,492 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 June 29, 2026.

3. Awarded pursuant to Plug Power Inc.'s 2021 Stock Option and Incentive Plan, as amended.

4. 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.

	/s/ Gerard L. Conway, Jr., Attorney-in-Fact	06/29/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What equity awards did Plug Power (PLUG) CFO Paul B. Middleton receive?

Paul B. Middleton received a grant of 389,105 shares of restricted common stock and a stock option covering 510,204 shares. Both awards were issued under Plug Power’s 2021 Stock Option and Incentive Plan, as part of his executive compensation package.

How do Paul Middleton’s new restricted shares in Plug Power (PLUG) vest?

The 389,105 restricted shares vest in three equal annual installments after the grant date. Each installment requires Paul Middleton’s continued service with Plug Power on the relevant vesting date, aligning his incentives with longer-term employment and company performance.

What are the terms of Paul Middleton’s new Plug Power (PLUG) stock option?

Paul Middleton received a stock option for 510,204 shares of Plug Power common stock at an exercise price of $2.57 per share. The option expires on June 25, 2036 and vests in three equal annual installments, subject to continued service.

How many Plug Power (PLUG) shares does Paul Middleton hold after these awards?

After the reported awards, Paul Middleton directly holds 2,947,169 shares of Plug Power common stock. He also indirectly holds 64,492 shares in Plug Power’s 401(k) plan, based on a plan statement dated June 29, 2026.

Are Paul Middleton’s Plug Power (PLUG) new awards open-market purchases or compensation grants?

The reported transactions are compensation-related grants, not open-market purchases. They include a restricted stock award and a stock option grant, both issued at $0.00 per share under Plug Power’s 2021 Stock Option and Incentive Plan, subject to multi-year vesting.

What role does Plug Power’s 2021 Stock Option and Incentive Plan play in this Form 4?

Both the 389,105-share restricted stock award and the 510,204-share stock option were granted under Plug Power’s 2021 Stock Option and Incentive Plan, as amended. This plan governs equity incentives for executives, including vesting schedules tied to continued service.