PLUG POWER INC
For the period ended Mar 31, 2026. Filed May 11, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 11, 2026
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Item 5. – Other Information
Item 5 (a) –
On May 11, 2026, the Company and Benjamin Haycraft, the Company’s Chief Strategy Officer and General Manager, EMEA Region entered into Amendment No. 2 to Mr. Haycraft’s employment agreement (the “Employment Agreement”) which, among other things: (i) increased his annual base salary to €440,000, effective September 6, 2025; (ii) revised the contractual termination indemnity upon a qualifying termination outside of a Change of Control (as defined in the Employment Agreement) to be equal to 100% of his annual base salary at the time of notification of termination; (iii) provided that, upon a qualifying termination within 12 months following a Change of Control, he is entitled to a termination indemnity equal to (x) 100% of his annual base salary (based on a three-year average or, if higher, his annual base salary in effect immediately prior to the Change of Control) plus (y) 100% of his average annual bonus over the three fiscal years preceding the Change of Control (or, if higher, his annual bonus for the last fiscal year immediately prior to the Change of Control); (iv) provided for full and immediate accelerated vesting of stock options and other stock-based awards subject solely to time-based vesting upon a qualifying termination, whether or not in connection with a Change of Control, and extended the post-termination option exercisability period to the earlier of twenty-four (24) months following the termination date or the expiration of the original term of the applicable stock option, in all qualifying scenarios; (v) added a material breach of the Employment Agreement by the Company as an additional trigger for termination for Good Reason (as defined in the Employment Agreement); and (vi) revised the definition of change of control to mean a "Sale Event" (as defined in the Company’s 2021 Stock Option and Incentive Plan, as amended).
Item 5 (c) –
Director and Officer Trading Arrangements
On March 9, 2026, Maureen Helmer, amember of the Company’s Board of Directors, adopteda new stock trading plan established pursuant to Rule 10b5-1 of the Exchange Act (the “New Plan”), which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), and which provides for the sale of up to 164,863 shares of the Company’s common stock upon thelater of: 1) June 8, 2026; or 2) the earlier of: a) the third business day following the disclosure of the Issuer’s financial results in a Form 10-Q or Form 10-K for the completed fiscal quarter in which the New Plan is adopted; or b) July 8, 2026. The New Plan was adopted during an open insider trading window.
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