secwatch.observer — SEC 8-K summary
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Issuer:     PLUG POWER INC (PLUG)
CIK:        0001093691
Form:       8-K
Filed at:   2023-04-04T23:59:59+00:00
Accession:  0001104659-23-041539
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Plug Power EVP Dirk Ole Hoefelmann resigns; Sanjay Shrestha assumes duties
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- Hoefelmann resigned as General Manager, Electrolyzers and EVP effective April 1, 2023, by mutual agreement.
- Sanjay K. Shrestha takes over Hoefelmann's responsibilities in addition to his current role.
- Separation pay: lump sum of $400,000.12 (52 weeks base salary), 2022 bonus, vested options extend 12 months.
- Hoefelmann subject to one-year non-compete and non-solicitation covenants.
- Unvested stock options and awards forfeited; health insurance payment of $24,477.23 included.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093691/000110465923041539/0001104659-23-041539-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093691/000110465923041539/tm2311753d1_8kseq1.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-041539

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