Home / The Market / : Plug Power CEO makes more than $36 million from stock trades

: Plug Power CEO makes more than $36 million from stock trades

Plug Power Inc. disclosed stock trades made by Chief Executive Andrew Marsh earlier this week, in which he netted more than $ 36 million.

Marsh purchased a total of 573,268 shares of Plug stock on Jan. 19 at a weighted average price of $ 2.8764, according to a MarketWatch analysis of data provided in a Form 4 filing with the Securities and Exchange Commission late Thursday.

The maker of hydrogen and fuel cell systems PLUG, +4.99% said the purchase was part of the “exercise or conversion of derivative security exempted pursuant to Rule 16b-3,” which relates to trades by company insiders taking part in an employee benefit plan.

On the same day, Marsh sold 573,268 shares of Plug stock in the open market, at a weighted average price of $ 65.8171. The company said the shares were sold as part of a “pre-established” trading plan. (See below for the trade details.)

Plug Power Inc.

The cost of the stock purchases was about $ 1.65 million and the proceeds from the stock sales totaled about $ 37.73 million, netting Marsh about $ 36.08 million.

After the trades, Marsh owned 748,680 shares of Plug Power, representing about 0.2% of the shares outstanding.

Plug Power’s stock charged 5.0% higher to close Friday at $ 66.87, reversing an early intraday loss of as much as 1.6%. It has rocketed more than fourfold (up 344.9%) over the past three months, while the S&P 500 index SPX, -0.30% has advanced 10.9%.

Plug Power said Friday that it will provide a business update on Jan. 26 in a call scheduled for 8:30 a.m. Eastern. Marsh will discuss preliminary results for 2020 and outline the company’s plans for 2021.

Details of Marsh’s trades on Jan. 19:

  • Buys 106,600 shares at $ 6.1000
  • Buys 466,668 shares at $ 2.1400
  • Sells 13,482 shares at $ 62.6504
  • Sells 49,918 shares at $ 63.9660
  • Sells 156,051 shares at $ 64.8196
  • Sells 114,120 shares at $ 65.6612
  • Sells 132,753 shares at $ 66.5801
  • Sells 101,766 shares at $ 67.7270
  • Sells 5,178 shares at $ 68.3109

For reference, Plug Power shares closed at $ 66.47 on Jan. 19.

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