Form 4: Plug Power Executive Sells Shares to Cover Tax Obligations
SEC Form 4
Martin Daniel Hull, Corporate Controller and CAO of Plug Power Inc., sold shares to cover tax withholding obligations related to vesting restricted stock awards.
Summary
- On September 22, 2024, Martin Daniel Hull, Corporate Controller and CAO of Plug Power Inc., disposed of 2,646 shares of common stock.
- The shares were tendered to the issuer to satisfy tax withholding obligations related to the vesting of restricted stock awards.
- The price per share was $1.94, based on the closing date of September 20, 2024.
- Following the transaction, Hull directly owns 204,339 shares of Plug Power common stock.
- Hull also indirectly owns 35,592 shares through the company's 401(k) plan, based on a plan statement as of August 2, 2024.
Sentiment
Score: 5
Explanation: This is a neutral event. An executive selling shares to cover taxes is a normal occurrence and doesn't necessarily indicate a positive or negative outlook for the company.
Industry Context
This is a routine Form 4 filing, reflecting an executive's stock transaction to cover tax obligations, which is a common occurrence in publicly traded companies.
Key Dates
| Date | Description |
|---|---|
| August 2, 2024 | Date of the 401(k) plan statement used for reporting indirect ownership. |
| September 20, 2024 | Closing date used to determine the price per share for tendered shares ($1.94). |
| September 22, 2024 | Date of the transaction (stock disposal). |
| October 03, 2024 | Date of the Form 4 filing. |
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