Initial Statement of Beneficial Ownership (3)
14 Marzo 2023 - 9:01PM
Edgar (US Regulatory)
FORM 3
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0104
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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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1. Name and Address of Reporting Person
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Mindnich David |
2. Date of Event Requiring Statement (MM/DD/YYYY)
2/17/2023
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3. Issuer Name and Ticker or Trading Symbol
PLUG POWER INC [PLUG]
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(Last)
(First)
(Middle)
C/O PLUG POWER INC.,, 968 ALBANY-SHAKER ROAD |
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)
_____ Director _____ 10% Owner ___X___ Officer (give title below) _____ Other (specify below) EVP, Global Manufacturing / |
(Street)
LATHAM, NY 12110
(City)
(State)
(Zip)
| 5. If Amendment, Date Original Filed(MM/DD/YYYY)
| 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Beneficially Owned
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1.Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 218208 (1) | D | |
Common Stock | 621 | I | 401(k) Plan (2) |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 4) | 2. Date Exercisable and Expiration Date (MM/DD/YYYY) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) |
Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Stock Option (Right to Buy) | (3) | 9/2/2031 | Common Stock | 250000 | $27.15 | D | |
Performance Stock Option (Right to Buy) | (4)(5) | 8/22/2032 | Common Stock | 1500000 | $26.38 | D | |
Explanation of Responses: |
(1) | Includes a restricted stock award granted on September 2, 2021 pursuant to Plug Power's 2021 Stock Option and Incentive Plan, as amended (the "Plan") in the amount of 250,000 shares, of which 83,333 shares have vested with the remaining 166,667 shares scheduled to vest in substantially equal installments on September 2, 2023 and September 2, 2024. |
(2) | The Reporting Person holds 621 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 December 31, 2022. |
(3) | Awarded pursuant to the Plan. The shares underlying this option vest and become exercisable in three equal annual installments, with the first installment having vested on September 2, 2022. |
(4) | Awarded pursuant to the Plan. Up to one-half (1/2) of the shares underlying the performance stock options will vest and become exercisable on each of the first two anniversaries of the grant date, provided that the daily volume weighted average price of the Issuer's common stock during any 30 consecutive trading day period in the three year performance period following the grant date of the stock options ("VWAP") equals or exceeds certain levels. 375,000 shares underlying the performance stock options will be deemed to have satisfied the performance-based vesting and will be eligible to vest over time if the VWAP equals $42.50; an additional 125,000 shares underlying the options will be deemed to have satisfied the performance-based vesting and will be eligible to vest over time if the VWAP equals $45; |
(5) | an additional 375,000 shares underlying the options will be deemed to have satisfied the performance-based vesting and will be eligible to vest over time if the VWAP equals $50, and the remaining 750,000 of the shares underlying the options will be deemed to have satisfied the performance-based vesting and will be eligible to vest over time if the VWAP equals or exceeds $100. If the VWAP falls between two of the stock price hurdles, an incremental number of shares underlying the options will become exercisable based on linear interpolation in $1 increments. Failure to achieve any of the stock price hurdles applicable to a performance stock option during the three-year performance period will result in applicable options being un-exercisable. The performance-based stock options have a maximum term of seven years from the grant date. |
Remarks: Exhibit 24 - Power of Attorney |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Mindnich David C/O PLUG POWER INC., 968 ALBANY-SHAKER ROAD LATHAM, NY 12110 |
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| EVP, Global Manufacturing |
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Signatures
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/s/ Gerard L. Conway, Jr., Attorney-in-Fact | | 3/14/2023 |
**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 5(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 control number. |
Grafico Azioni Plug Power (NASDAQ:PLUG)
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Da Giu 2024 a Lug 2024
Grafico Azioni Plug Power (NASDAQ:PLUG)
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