Plug Power Adopts Executive Compensation Program to Strengthen Leadership Alignment with Shareholders
LATHAM, N.Y., Feb. 28, 2025 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ:PLUG), a leading provider of hydrogen solutions, today announced the adoption of an executive compensation program that enables eligible executives to receive up to 75% of their compensation in the form of Plug stock. This initiative underscores the company's commitment to aligning leadership interests with long-term shareholder value.
"As Plug continues to execute on its strategy, this program reinforces our leadership's confidence in the company's future and commitment to driving sustainable growth," said Andy Marsh, CEO of Plug. "Any of us that choose to opt into this program will have an increased equity stake, and be further aligned with the investors and stakeholders who believe in our long-term vision."
Under the program, eligible executives may elect to receive 25%, 50%, or 75% of their compensation in Plug stock, with the option applying to base salary and, in some cases, cash bonuses. The program will take effect at the next open trading window and remain in place through the end of the fiscal year.
For more information about Plug Power and its strategic initiatives, visit www.plugpower.com.
About Plug
Plug is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation, to help its customers meet their business goals and decarbonize the economy. In creating the first commercially viable market for hydrogen fuel cell technology, the company has deployed more than 69,000 fuel cell systems and over 250 fueling stations, more than anyone else in the world, and is the largest buyer of liquid hydrogen.
With plans to operate a green hydrogen highway across North America and Europe, Plug built a state-of-the-art Gigafactory to produce electrolyzers and fuel cells and is developing multiple green hydrogen production plants targeting commercial operation by year-end 2028. Plug delivers its green hydrogen solutions directly to its customers and through joint venture partners into multiple environments, including material handling, e-mobility, power generation, and industrial applications.
For more information, visit www.plugpower.com.
Plug Power Safe Harbor Statement
This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. ("Plug"), including but not limited to statements about Plug's ability to execute on its current strategy and long-term vision; Plug's ability to generate value for our stakeholders; and Plug's ability to continue driving sustainable growth. Such statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of Plug in general, see Plug's public filings with the Securities and Exchange Commission (the "SEC"), including the "Risk Factors" section of Plug's Annual Report on Form 10-K for the year ended December 31, 2023, Plug's Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024, June 30, 2024 and September 30, 2024 and any subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made as of the date hereof, and Plug undertakes no obligation to update such statements as a result of new information.
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Source: PLUG
