Plug Power To Hold Special Meeting Of Stockholders On January 15, 2026, To Ask Stockholders To Approve Amendment To Its Charter To Increase Authorized Common Stock From 1.5B To 3B Shares

Author: Benzinga Newsdesk | November 21, 2025 01:04pm

Plug Power Inc. (NASDAQ:PLUG) (the "Company" or "Plug"), a global leader in comprehensive hydrogen solutions for the hydrogen economy, will hold a Special Meeting of Stockholders (the "Special Meeting") on January 15, 2026, at 10:00 a.m. Eastern Time. The meeting will be conducted in a virtual format only.

Purpose of the Special Meeting

At the upcoming Special Meeting, Plug will ask stockholders to approve an amendment to the Company's charter to increase the authorized common stock from 1.5 billion to 3.0 billion shares. Plug currently has less than 0.4% of its authorized shares of common stock available for future issuance. The proposed increase, made in consultation with Institutional Shareholder Services (ISS), was based on a sizing analysis that considered projected capital requirements, upcoming contractual commitments, equity programs, and potential strategic transactions, ensuring flexibility without excess.

Plug's stockholders will also be asked to approve an amendment to the Company's charter to conform the Company's charter to recent amendments in the Delaware statute. This amendment would allow a more achievable voting standard for, among other things, future amendments to increase or decrease the authorized number of shares of common stock and align the voting standard with other Delaware companies.

The Company filed a preliminary proxy statement with the Securities and Exchange Commission (the "SEC") on November 20, 2025. For additional information regarding these proposals, investors are urged to read the Company's preliminary proxy statement.

Plug's Board of Directors recommends a vote FOR each of these proposals as these are in the Company's best interest.

Recent Business Progress and Operational Momentum

Plug continues to make meaningful progress across its business, reinforcing the Company's position as a global leader in integrated hydrogen solutions:

• Record Hydrogen Production. Plug's Georgia plant delivered its best month on record in August 2025, producing 324 metric tons of hydrogen with 97% uptime and 99.7% availability, demonstrating strong performance of Plug's end-to-end production technology.
• Expanding Electrolyzer Deployments. Plug is advancing a multi-gigawatt electrolyzer development pipeline, with 8 GW+ of identified opportunities across Europe, Australia, the Middle East and North America, reflecting rising global demand for clean hydrogen.
• Continued Expansion in Material-Handling Fuel Cells. Plug recently commissioned next-generation GenDrive fuel-cell systems for major logistics operators, including new deployments at Floor & Decor's Frederickson distribution facility, reinforcing Plug's leadership in large-scale material-handling fleets.
• Strengthened Customer Ecosystem. Plug's annual symposium convened industry partners including Amazon, Uline, Hy2Gen, and key energy developers, highlighting broad commercial support for Plug's integrated hydrogen solutions.
• Advancing Energy Transition Infrastructure. Plug is expanding hydrogen storage, delivery and fueling capabilities to support emerging industrial and data center demand, positioning the Company as a full-value-chain provider for the clean hydrogen economy.

"These proposals are essential to ensuring Plug has the resources and flexibility needed to execute on our strategy, meet contractual obligations, reward talent, and advance the hydrogen economy," said Andy Marsh, Chief Executive Officer of Plug. "We are encouraged by the progress we're making across production, electrolyzers, and commercial adoption, and we remain focused on driving disciplined growth and creating sustainable value for our stockholders."

Protect Your Investment

The record date for the upcoming Special Meeting is December 4, 2025. It is important that our stockholders have the ability to vote all of their shares at the upcoming meeting. Stockholders who have pledge or loaned their shares may not be able to vote unless those shares are recalled and returned to their accounts in advance of the record date.

There is significant short interest in Plug; therefore, it is possible stockholders are not even aware that their shares had been loaned by their bank, broker or nominee. Stockholders whose shares have been lent out should instruct their bank, broker or nominee to recall their shares as soon as possible to ensure they are returned in time to be counted as of the December 4, 2025 record date.

Posted In: PLUG