Plug Power Inc. filings document the public-company record for a hydrogen solutions business with common stock listed on the Nasdaq Capital Market. The company’s disclosures cover operating and financial results, its hydrogen production and infrastructure activities, electrolyzer and fuel cell businesses, and risk and governance topics tied to scaling an integrated hydrogen ecosystem.
Plug’s SEC record includes definitive proxy materials, current reports on Form 8-K, and material-event disclosures. These filings address board and executive matters, shareholder voting, amendments to the certificate of incorporation, authorized common stock, material agreements, capital-structure matters, operating results and other governance updates.
Plug Power director Colin M. Angle reported a stock award from the company. On January 2, 2026, he acquired 5,076 shares of common stock at a value of $1.97 per share, coded as an acquisition. The filing states this was compensation awarded to directors under Plug Power Inc.'s Non-Employee Director Compensation Plan, meaning it is a routine equity grant for board service rather than an open-market purchase. After this award, Angle directly owned 105,919 shares of Plug Power common stock.
Plug Power Inc. director Gary K. Willis reported receiving an equity award of Plug Power common stock. On January 2, 2026, he acquired 16,497 shares of common stock at a reported price of $1.97 per share, coded as an acquisition. The footnote states this was compensation awarded to directors under Plug Power Inc.'s Non-Employee Director Compensation Plan, meaning it reflects routine director pay in stock rather than an open-market purchase or sale. Following this grant, Willis directly beneficially owns 690,354 shares of Plug Power common stock.
Plug Power Inc. entered a Release Event License Agreement with Walmart Inc. covering escrowed GenKey System software and related materials that Walmart may use for internal maintenance only if specified “Release Events” occur. Walmart will pay an initial license fee at escrow confirmation and an annual license fee, with higher annual and one-time fees if a Release Event happens. The agreement runs for 15 years, includes mutual indemnification, and outlines efforts to identify alternative stack suppliers with limited conditional stack-sourcing rights for Walmart.
Pursuant to the agreement, Walmart irrevocably terminated a prior transaction agreement and forfeited all vested portions of a warrant to purchase Plug Power common stock, and all unvested portions were cancelled, so no shares will be issuable under that warrant, eliminating potential future dilution of up to 42,192,479 shares. As of the effective date, 34,554,185 shares under the warrant had vested and 7,638,294 shares remained unvested.
Plug Power Inc. officer and President & Chief Revenue Officer reported buying company stock. On 12/15/2025, the reporting person purchased 37,300 shares of Plug Power common stock at a price of $2.34 per share in an open market transaction coded as a purchase.
This trade was made under a Rule 10b5-1 trading plan that was adopted on March 13, 2025. After this transaction, the reporting person beneficially owned 307,332 shares of Plug Power common stock directly, and also held 61,300 shares in Plug Power Inc.'s 401(k) plan based on a plan statement as of December 17, 2025.
Plug Power Inc. officer and CSO & GM EMEA reported several personal transactions in the company’s common stock. On 10/10/2025, the reporting person sold 10,000 shares at $3.80 per share, and on 12/10/2025 sold an additional 40,000 shares at $2.20 per share, both noted as sales under a Rule 10b5-1 trading plan adopted on June 13, 2025. On 10/17/2025 and 11/07/2025, a total of 7,817 and 35,957 shares, respectively, were tendered to Plug Power to satisfy tax withholding obligations related to vesting of restricted stock awards at reference prices of $3.48 and $2.51 per share under the company’s 2021 Stock Option and Incentive Plan. After these transactions, the reporting person beneficially owns 373,809 Plug Power common shares directly.
Plug Power Inc. has called a virtual special meeting on January 29, 2026 for stockholders to vote on three charter changes. Proposal 1 would lower the voting threshold for certain future amendments, such as changes to authorized shares or reverse stock splits, to match Delaware’s Section 242(d)(2), so approval would be based on a majority of votes cast rather than a majority of all shares outstanding.
Proposal 2 would double authorized common stock from 1.5 billion to 3.0 billion shares. The company says it has less than 0.4% of authorized common stock left and must increase authorized shares by February 28, 2026 to honor warrants for 185,430,464 shares and $375.0 million of 6.75% convertible notes due 2033. If Proposal 2 fails, the board plans to use a previously approved reverse stock split instead. Proposal 3 would allow adjournment of the meeting to gather more proxies. The board unanimously recommends voting in favor of all three proposals.
Plug Power Inc. completed a private offering of $431.25 million of 6.75% Convertible Senior Notes due 2033. The notes were sold at 95% of face value, giving the company net proceeds of about $399.4 million.
The notes bear 6.75% interest, paid twice a year, and mature on December 1, 2033, with holders able to convert after a specified date into cash, common stock, or a combination, at the company’s election. The initial conversion rate is 333.3333 shares per $1,000 of notes, equal to an initial conversion price of roughly $3.00 per share, a 40% premium to the $2.14 stock price on November 18, 2025. The company also discloses an initial maximum conversion rate of 467.2897 shares per $1,000, allowing up to 201,518,683 shares to be issued if fully converted.
Plug Power used approximately $245.7 million of the proceeds to fully repay its 15.00% secured debentures, including accrued interest and a termination fee, and about $153.9 million to repurchase $138.0 million principal of its 7.00% convertible notes due 2026. Remaining funds are earmarked for working capital and general corporate purposes.
Plug Power Inc. has called a virtual special meeting on January 15, 2026 for stockholders to vote on two major charter changes and a possible adjournment. The first proposal would amend the charter so that certain future amendments, including changes to authorized shares and reverse stock splits, can be approved by a majority of votes cast, aligning the company’s standard with Section 242(d)(2) of Delaware law.
The second proposal would double the company’s authorized common stock from 1,500,000,000 to 3,000,000,000 shares. Plug Power states it has less than 0.4% of its authorized common stock available and highlights contractual obligations tied to warrants to purchase 185,430,464 shares issued on October 9, 2025 and $375.0 million of 6.75% convertible senior notes due 2033 issued on November 21, 2025. The board prefers direct authorization of more shares over using a previously approved reverse stock split and is also seeking authority to adjourn the meeting to solicit additional proxies if needed.
Plug Power Inc. (PLUG) is hosting its seventh annual Plug Symposium at its Vista manufacturing facility in Slingerlands, New York, starting at 9:00 a.m. Eastern Time on November 18, 2025. The event’s theme, “Strengthening Energy Independence,” focuses on hydrogen’s role in global energy security.
Senior leaders, including CEO Andrew J. Marsh, President and Chief Revenue Officer Jose Luis Crespo, and CFO Paul B. Middleton, will present the company’s strategic vision in the hydrogen economy and provide a financial update. They plan to discuss Project Quantum Leap initiatives to streamline the business and strengthen the balance sheet, operational milestones, energy grid challenges and Plug’s energy management solutions, scaling operations at the Vista facility, and engineering and technology developments.
The symposium will also cover electrolyzer deployment milestones and pipeline, the hydrogen production network, hydrogen plant design and execution, and key partnerships and customer projects. A fireside chat between Mr. Marsh and Mr. Crespo will address company strategy and the planned leadership transition, as Mr. Marsh prepares to hand the CEO role to Mr. Crespo in March 2026. Presentation materials and a press release are furnished as Exhibits 99.1 and 99.2 and are not deemed filed under the Exchange Act.
Plug Power Inc. reported a wider Q3 2025 net loss of $363.5 million as higher costs and one‑time charges outweighed modest revenue growth. Net revenue was $177.1 million versus $173.7 million a year ago, driven by fuel and power purchase agreements. Gross loss reached $120.2 million, and operating loss was $348.8 million, reflecting impairments and restructuring.
The company recorded Q3 impairments across assets, including $50.0 million to property, plant and equipment, $28.1 million to contract assets, $11.4 million to prepaid capital expenditures, $6.9 million to operating lease ROU assets, and $1.1 million to finite‑lived intangibles. For the nine months, net loss was $789.1 million and cash used in operations was $387.2 million.
Liquidity actions included an at‑the‑market program—Q3 sales of 29.4 million shares at a weighted‑average $1.60 for gross proceeds of $47.2 million—with $944.1 million of capacity remaining as of September 30, 2025. In March, a registered direct deal provided net proceeds of $267.5 million, and a subsequent October warrant inducement brought $355.1 million. The company also issued $210.0 million initial and $52.5 million second‑tranche 15.00% secured debentures and received $29.5 million from warrant exercises. Shares outstanding were 1,391,427,242 as of November 5, 2025.