Form 4: Plug Power CFO Paul Middleton Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Paul Middleton, CFO of Plug Power Inc., sold 17,082 shares of common stock on November 6, 2024, to cover tax withholding obligations related to vesting restricted stock awards.
Summary
- On November 6, 2024, Paul B. Middleton, CFO and Executive VP of Plug Power Inc., disposed of 17,082 shares of common stock.
- The transaction was executed to satisfy tax withholding obligations related to the vesting of restricted stock awards.
- The shares were tendered to the issuer at a price of $2.52 per share, based on the closing date of November 5, 2024.
- Following the transaction, Middleton directly owns 273,061 shares of Plug Power Inc.
- Middleton also holds 46,065 shares of common stock indirectly through Plug Power Inc.'s 401(k) plan, based on a plan statement as of August 8, 2024.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to stock transactions by a company executive, and does not inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it is a standard procedure for covering tax obligations.
Key Dates
| Date | Description |
|---|---|
| August 8, 2024 | Date of the Plug Power Inc.'s 401(k) plan statement used to determine indirect ownership. |
| November 5, 2024 | Closing date used to determine the price per share for the tendered shares ($2.52). |
| November 6, 2024 | Date of the transaction where Paul Middleton sold 17,082 shares of Plug Power Inc. |
| November 8, 2024 | Date of signature for the Form 4 filing. |
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