Form 4: Plug Power Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Jose Luis Crespo, a General Manager at Plug Power, sold shares to cover tax obligations related to vesting restricted stock awards.
Summary
- Jose Luis Crespo, a General Manager at Plug Power, filed a Form 4 indicating changes in beneficial ownership.
- On November 6, 2024, Crespo sold 15,241 shares of common stock at $2.52 per share to satisfy tax withholding obligations related to the vesting of restricted stock awards.
- Following the transaction, Crespo directly owns 324,021 shares of Plug Power common stock.
- Crespo also indirectly owns 45,587 shares through Plug Power's 401(k) plan, based on a plan statement as of August 8, 2024.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to an executive's stock transactions. It doesn't inherently indicate positive or negative sentiment, as it reflects a routine financial activity.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders. This filing indicates that an executive sold shares to cover tax obligations, which is a common practice.
Stakeholder Impact
- The sale of shares by an executive could have a minor impact on shareholders, but it is generally considered a routine transaction.
Key Dates
| Date | Description |
|---|---|
| August 8, 2024 | Date of the Plug Power Inc.'s 401(k) plan statement used for reporting indirect ownership. |
| November 5, 2024 | Closing date used to determine the price per share for tendered shares. |
| November 6, 2024 | Date of the transaction where shares were sold to cover tax obligations. |
| November 8, 2024 | Date of signature for the Form 4 filing. |
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