What's Going On With Plug Power Stock Today?

Plug Power, Inc. PLUG shares are trading higher on Thursday.

The firm announced that its CEO, Andy Marsh, will accept 50% of his annual salary in the form of company stock for the year.

This decision highlights Marsh’s confidence in Plug Power’s strategy and future potential within the growing hydrogen economy.

Recently, Plug Power rolled out a new compensation program for its executives, with eligible leaders can opt to receive up to 75% of their pay in company stock.

As of 2024, the company’s unrestricted cash stood at over $200 million. While reporting fourth-quarter results, the company said that it expects cash burn in 2025 to continue to improve significantly.

“Our mission is to pioneer the hydrogen economy for present and future generations,” said Marsh.

“Aligning my compensation with our company’s outlook, both short and long term, is a demonstration of my confidence in our vision, our team, and the value we are creating for our stakeholders,” the CEO added.

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The company remains focused on executing its strategic objectives, aiming to scale its hydrogen solutions and contribute to a sustainable energy future.

Plug Power also continues to provide updates on its key initiatives throughout the year.

According to Benzinga Pro, PLUG stock has lost 55% in the past year. Investors can gain exposure to the stock via Global X Hydrogen ETF HYDR.

In other news, Plug Power recently priced an underwritten registered offering, raising approximately $280 million in gross proceeds.

The offering includes 46.5 million shares of common stock and pre-funded warrants to purchase up to 139 million shares, totaling 185.4 million common stock equivalents.

The common stock shares and warrants are priced at $1.51, while the pre-funded warrants are priced at $1.509 with an exercise price of $0.001 per share.

Price Action: PLUG shares are trading higher by 2.22% to $1.615 at last check Thursday.

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