Ole Hoefelmann was excluded from the performance-based stock option program, while David Mindnich was included in 2023, even though he started working at Plug Power 6 months later than Ole. In 2023 the stock price remained below the performance-base stock options price hurdle of $35, resulting in the options not being granted. Ole’s option program was not performance-based, so he was the only executive officer to receive 2023 options. However, Plug Power AMENDED the performance-based stock option program by lowering the stock price hurdles (for example David Mindnich stock price hurdle dropped from $42.50 to $9.84), which resulted in all executive officers receiving options in 2023. That's very unfair, I think.
The performance-based stock options (1) Awarded pursuant to Plug Power Inc.'s 2021 Stock Option and Incentive Plan, as amended. ….. (3) One-third (1/3) 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 during any 30 consecutive trading day period equals $9.84; an additional one-third (1/3) 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 during any 30 consecutive trading day period equals $11.81; and the remaining one-third (1/3) 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 during any 30 consecutive trading day period equals or exceeds $13.77. https://d18rn0p25nwr6d.cloudfront.net/CIK-0001093691/139b5c65-b1ea-4a4c-bd8f-34aff6507570.pdf
performance-based stock option program: Shrestha Sanjay K 750000 Marsh Andrew 1500000 Mindnich David 750000 Schmid Keith 345000 Crespo Jose Luis 750000 Conway Gerard L JR 750000 MIDDLETON PAUL B 750000
News 
Market Data 
Discover 
