Vanguard disaggregates holdings; PLUG ownership shown as 0% (PLUG)

Rhea-AI Filing Summary

Plug Power Inc ownership update: The Vanguard Group reports zero shares beneficially owned of Plug Power common stock after an internal realignment effective 01/12/2026. The amendment states the realignment caused certain Vanguard subsidiaries and business divisions to report holdings separately, and Vanguard no longer is deemed to beneficially own those subsidiary holdings.

The filing was signed by Ashley Grim on 03/27/2026 and lists 0 shares and 0% ownership, with no sole or shared voting or dispositive power reported.

Insights

Institutional Ownership Analyst

Vanguard disaggregated holdings; parent reports zero ownership.

The amendment explains an internal reorganization at The Vanguard Group effective 01/12/2026 that moved beneficial reporting to subsidiaries and business divisions. The filing shows Amount beneficially owned: 0 and Percent of class: 0%, reflecting reporting change rather than an open‑market sale.

Implications depend on subsidiary filings for detail; subsequent Schedule 13G/A or 13D filings by the named subsidiaries will show where the economic interests now appear. Timing for those filings is not stated in this excerpt.

Compliance & Disclosure Specialist

Disclosure aligns with SEC Release No. 34‑39538 disaggregation guidance.

The filing cites SEC Release No. 34‑39538 as the basis for separate reporting by subsidiaries, noting those entities pursue the same investment strategies as before the realignment. The signature block shows the amendment was executed on 03/27/2026.

Regulatory readers should look for follow‑on ownership reports from the identified Vanguard subsidiaries to reconstruct current beneficial ownership; cash‑flow treatment and specific subsidiary holdings are not included here.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Plug Power Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

72919P202

(CUSIP Number)

03/13/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 72919P202

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Plug Power Inc
(b)	Address of issuer's principal executive offices: 968 Albany Shaker Road, Latham, NY, 12110
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd.,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/27/2026

FAQ

What did The Vanguard Group report for PLUG ownership in this amendment?

The Vanguard Group reported 0 shares and 0% beneficial ownership of Plug Power common stock, citing internal disaggregation of subsidiaries effective 01/12/2026.

Why does Vanguard show zero ownership of PLUG after the realignment?

Vanguard states certain subsidiaries/business divisions now report holdings separately under SEC Release No. 34‑39538, so the parent entity is no longer deemed to beneficially own those securities.

Who signed the Schedule 13G/A amendment for PLUG and when?

The amendment was signed by Ashley Grim, Head of Global Fund Administration, on 03/27/2026, certifying the disclosure about Vanguard's beneficial ownership.

Does this filing disclose which Vanguard subsidiaries now hold PLUG shares?

No; the amendment explains disaggregation but does not list subsidiary names or share amounts. Look for separate Schedule 13G/A filings by Vanguard subsidiaries for those details.

Does the filing indicate any voting or dispositive power over PLUG shares?

The filing reports 0 for sole and shared voting power and 0 for sole and shared dispositive power, indicating the parent reports no control over the shares listed here.