Plug Power and Walmart enter license agreement; Walmart terminates 42.2M share warrant

PLUG POWER INC

Walmart terminates 2017 warrant covering 42,192,479 shares (all vested and unvested), eliminating future dilution.
Plug Power grants Walmart contingent license to GenKey System escrow materials upon specified Release Events.
Plug Power to use commercially reasonable efforts to identify alternative stack suppliers within [***] days of Dec 30, 2025.
One-time initial license fee upon escrow deposit plus annual fees; increased fees upon Release Event.
Agreement effective Dec 30, 2025, term of 15 years unless terminated earlier for material uncured breach.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

PLUG POWER INC entered into Release Event License Agreement with Walmart Inc. valued at a one-time initial license fee (effective 2025-12-30).

Action: entry
Agreement: license
Counterparty: Walmart Inc.
Value: a one-time initial license fee
Effective: 2025-12-30

Exact text from the filing

On December 30, 2025 (the “Effective Date”), Plug Power Inc. (the “Company”) entered into a Release Event License Agreement (the “License Agreement”) with Walmart Inc. (“Walmart”)

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306 material agreements filed in the last 30 days. Browse all material agreements →

PLUG POWER INC filing history →

Source: SEC EDGAR

accession 0001104659-26-001336

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