4//SEC Filing
MIDDLETON PAUL B 4
Accession 0001104659-21-136335
CIK 0001093691other
Filed
Nov 8, 7:00 PM ET
Accepted
Nov 9, 4:59 PM ET
Size
6.8 KB
Accession
0001104659-21-136335
Insider Transaction Report
Form 4
PLUG POWER INCPLUG
MIDDLETON PAUL B
SVP, Chief Financial Officer
Transactions
- Award
Performance Stock Option (Right to Buy)
2021-09-22+2,000,000→ 2,000,000 totalExercise: $26.92Exp: 2028-09-22→ Common Stock (2,000,000 underlying)
Footnotes (3)
- [F1]Awarded pursuant to Plug Power's 2021 Stock Option and Incentive Plan.
- [F2]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.
- [F3]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.
Documents
Issuer
PLUG POWER INC
CIK 0001093691
Entity typeother
Related Parties
1- filerCIK 0001224978
Filing Metadata
- Form type
- 4
- Filed
- Nov 8, 7:00 PM ET
- Accepted
- Nov 9, 4:59 PM ET
- Size
- 6.8 KB