Investor Alert

London Markets Open in:

Jan. 23, 2021, 10:20 a.m. EST

Plug Power CEO makes more than $36 million from stock trades

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Plug Power Inc. (PLUG)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

Tomi Kilgore

Plug Power Inc. disclosed stock trades made by Chief Executive Andrew Marsh earlier this week, in which he netted more than $36 million.

Marsh purchased a total of 573,268 shares of Plug stock on Jan. 19 at a weighted average price of $2.8764, according to a MarketWatch analysis of data provided in a Form 4 filing with the Securities and Exchange Commission late Thursday.

The maker of hydrogen and fuel cell systems /zigman2/quotes/205453512/composite PLUG -7.01% said the purchase was part of the “exercise or conversion of derivative security exempted pursuant to Rule 16b-3,” which relates to trades by company insiders taking part in an employee benefit plan.

On the same day, Marsh sold 573,268 shares of Plug stock in the open market, at a weighted average price of $65.8171. The company said the shares were sold as part of a “pre-established” trading plan. (See below for the trade details.)

The cost of the stock purchases was about $1.65 million and the proceeds from the stock sales totaled about $37.73 million, netting Marsh about $36.08 million.

After the trades, Marsh owned 748,680 shares of Plug Power, representing about 0.2% of the shares outstanding.

Plug Power’s stock charged 5.0% higher to close Friday at $66.87, reversing an early intraday loss of as much as 1.6%. It has rocketed more than fourfold (up 344.9%) over the past three months, while the S&P 500 index /zigman2/quotes/210599714/realtime SPX -0.81% has advanced 10.9%.

Plug Power said Friday that it will provide a business update on Jan. 26 in a call scheduled for 8:30 a.m. Eastern. Marsh will discuss preliminary results for 2020 and outline the company’s plans for 2021.

Details of Marsh’s trades on Jan. 19 :

For reference, Plug Power shares closed at $66.47 on Jan. 19.

US : U.S.: Nasdaq
$ 48.78
-3.68 -7.01%
Volume: 24.73M
March 2, 2021 4:00p
P/E Ratio
Dividend Yield
Market Cap
$26.36 billion
Rev. per Employee
-31.53 -0.81%
Volume: 2.28B
March 2, 2021 5:08p

Get news alerts on Plug Power Inc. — or create your own.
This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.