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

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

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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 -3.03% 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 -0.54% 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.

/zigman2/quotes/205453512/composite
US : U.S.: Nasdaq
$ 38.11
-1.19 -3.03%
Volume: 25.98M
March 8, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$19.75 billion
Rev. per Employee
$275,735
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/zigman2/quotes/210599714/realtime
US : S&P US
3,821.35
-20.59 -0.54%
Volume: 2.99B
March 8, 2021 5:05p
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