Plug Power schedules stockholder meeting to double authorized shares

Plug Power Inc. (NASDAQ: PLUG) will hold a special stockholder meeting on January 15, 2026, to vote on increasing authorized common stock from 1.5 billion to 3.0 billion shares. The virtual meeting is scheduled for 10:00 a.m. Eastern Time.

The company currently has less than 0.4% of its authorized shares available for future issuance, according to a press release statement. The proposed increase was developed in consultation with Institutional Shareholder Services based on projected capital requirements, contractual commitments, equity programs, and potential strategic transactions.

Stockholders will also vote on amending the company's charter to align with recent Delaware statute amendments, which would establish a more achievable voting standard for future share authorization changes.

The record date for voting eligibility is December 4, 2025. Plug Power filed a preliminary proxy statement with the Securities and Exchange Commission on November 20, 2025. The company's board recommends approval of both proposals.

Chief Executive Officer Andy Marsh stated the proposals are "essential to ensuring Plug has the resources and flexibility needed to execute on our strategy, meet contractual obligations, reward talent, and advance the hydrogen economy."

The company highlighted recent operational developments, including record hydrogen production of 324 metric tons at its Georgia plant in August 2025 with 97% uptime. Plug Power reported advancing an 8+ gigawatt electrolyzer development pipeline across multiple regions and continued fuel cell deployments for logistics operators.

Plug Power cautioned stockholders about significant short interest in the stock and advised those whose shares may have been loaned to recall them before the record date to ensure voting eligibility.

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