Plug Power (PLUG) Proxy Filing summary

Executive summary

• Special Meeting called to vote on Proposal 2, which concerns increasing authorized shares and potentially avoiding a reverse stock split.

• As of the latest update, 49.7% of outstanding shares have voted in favor; a majority is required for approval.

• CEO urges shareholders, especially those who voted NO or abstained, to reconsider and vote YES, citing economic interests and negative impacts of reverse stock splits.

• Detailed instructions provided for shareholders across various brokerages to ensure their votes are counted.

• European investors face additional steps to vote, particularly through DEGIRO, requiring a UBO certificate and coordination with Sodali.

Voting matters and shareholder proposals

• Proposal 2 seeks to increase authorized shares of common stock and avoid a reverse stock split if approved.

• A NO vote triggers both a reverse stock split and an increase in authorized shares, while a YES vote only increases authorized shares.

• Shareholders are encouraged to change their votes if they previously voted NO or abstained, as every vote is critical.

Shareholder rights and capital structure

• Approval of Proposal 2 would increase the number of authorized shares available for issuance.

• A reverse stock split will only occur if Proposal 2 is not approved.