other material
confidence high
sentiment negative
materiality 0.55
Plug Power shareholders approve reverse stock split; reject increase in authorized shares
PLUG POWER INC
- Reverse stock split (1:5 to 1:200) approved with ~27.0B votes, including 45B preferred votes.
- Authorized share increase (1.5B to 3B shares) failed; 415.9M for votes, but needed majority outstanding.
- Class vote amendment and officer exculpation amendment both failed to get required majority.
- Directors Bonney, Kenausis, McNamee re-elected; 2021 Plan amendment (40M shares) approved.
- Deloitte ratified as auditor; non-binding say-on-pay advisory vote approved.