0001104659-21-136335.txt : 20211109
0001104659-21-136335.hdr.sgml : 20211109
20211109165926
ACCESSION NUMBER: 0001104659-21-136335
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210922
FILED AS OF DATE: 20211109
DATE AS OF CHANGE: 20211109
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: MIDDLETON PAUL B
CENTRAL INDEX KEY: 0001224978
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-34392
FILM NUMBER: 211393054
MAIL ADDRESS:
STREET 1: PLUG POWER INC.
STREET 2: 968 ALBANY SHAKER RD.
CITY: LATHAM
STATE: NY
ZIP: 12110
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: PLUG POWER INC
CENTRAL INDEX KEY: 0001093691
STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620]
IRS NUMBER: 223672377
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 968 ALBANY-SHAKER ROAD
CITY: LATHAM
STATE: NY
ZIP: 12110
BUSINESS PHONE: 5187827700
MAIL ADDRESS:
STREET 1: 968 ALBANY-SHAKER ROAD
CITY: LATHAM
STATE: NY
ZIP: 12110
4
1
tm2131018-3_4seq1.xml
OWNERSHIP DOCUMENT
X0306
4
2021-09-22
0
0001093691
PLUG POWER INC
PLUG
0001224978
MIDDLETON PAUL B
C/O PLUG POWER INC.
968 ALBANY SHAKER ROAD
LATHAM
NY
12110
0
1
0
0
CFO & Senior VP
Performance Stock Option (Right to Buy)
26.92
2021-09-22
4
A
0
2000000
0
A
2028-09-22
Common Stock
2000000
2000000
D
Awarded pursuant to Plug Power's 2021 Stock Option and Incentive Plan.
Up to one-third (1/3) of the shares underlying the performance stock options will vest and become
exercisable on each of the first three anniversaries of the grant date, provided that the daily volume
weighted average price of the Company'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. 25% of the 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
$35; an additional 25% 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 $50; and the
remaining 50% of the shares underlying the options will be deemed to have satisfied the performancebased
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.
/s/ Gerard L. Conway, Jr., Attorney-in-Fact
2021-11-09