Plug Power to ask holders to increase authorized common stock to 3B from 1.5B

Plug Power (PLUG) will hold a Special Meeting of Stockholders on January 15, 2026, at 10:00 a.m. Eastern Time. 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, 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 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,” the company stated.