PLUG POWER INC. (NASDAQ:PLUG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers
(d)Appointment of Lucas P. Schneider as a member of the Board of
Directors
On March28, 2017, the Board of Directors (the Board) of Plug
Power Inc. (the Company) appointed Lucas P. Schneider to serve as
a director of the Company effective March29, 2017. Mr.Schneider
was appointed to serve as a ClassIII director with a term
expiring at the annual meeting of stockholders to be held in
2017. The Board currently consists of ten directors divided into
three classes, as follows: ClassI (term expiring 2018) – Andrew
Marsh, Gary K. Willis and Maureen O. Helmer, ClassII (term
expiring 2019) – George C. McNamee, Johannes M. Roth, Xavier
Pontone and Gregory L. Kenausis and ClassIII (term expiring 2017)
Mr.Schneider, Larry G. Garberding and Douglas T. Hickey.
Currently, Mr.Schneider serves as the Chief Executive Officer
(CEO) of Silvercar, an Austin, TX-based start-up that has built a
technology platform for a new breed of rental car business and
other vehicle mobility applications. Prior to Silvercar,
Mr.Schneider was the Chief Technology Officer (CTO) of Zipcar,
and worked in various positions with Ford. Mr.Schneider has been
influential in helping guide companies, ranging from start-ups to
large enterprises, through major business milestones including
IPOs, acquisitions, and product development.
In connection with his appointment to the Board, Mr.Schneider
became a party to the Companys standard indemnification agreement
with nonemployee directors and was granted options to purchase
101,352 shares of the Companys common stock at an exercise price
of $1.48 per share (the closing price of the Companys common
stock on the NASDAQ Capital Market on March29, 2017, the date of
grant) in accordance with the Companys Non-Employee Director
Compensation Policy. The options become fully vested on the first
anniversary of the grant date.
A copy of the Companys press release announcing Mr.Schneiders
appointment to the Board of Directors of the Company is attached
hereto as Exhibit99.1.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
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ExhibitNumber |
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Title |
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99.1 |
Press Release of Plug Power Inc. dated March30, 2017 |
About PLUG POWER INC. (NASDAQ:PLUG)
Plug Power Inc. is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn. GenKey offers solutions to customers transitioning their material handling vehicles to fuel cell power. GenDrive is a hydrogen fueled proton exchange membrane (PEM) fuel cell system. It provides power to material handling vehicles. GenFuel is a hydrogen fueling delivery system. It is designed to allow customers to refuel its GenDrive units for productivity. GenCare is an ongoing maintenance program for both the GenDrive fuel cells and GenFuel products. ReliOn is a stationary fuel cell solution. It provides scalable, modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation and utility sectors. PLUG POWER INC. (NASDAQ:PLUG) Recent Trading Information
PLUG POWER INC. (NASDAQ:PLUG) closed its last trading session down -0.10 at 1.36 with 2,930,697 shares trading hands.