Plug Power CEO Nets $35.4M In Planned Sale Of Hydrogen Fuel Cell Company's Stock

Plug Power Inc PLUG shares gained a whopping 973% in 2020, and have risen an incremental 88% so far in January amid an investor frenzy over alternative energy stocks.

What Happened: Plug Power CEO Andrew Marsh on Tuesday sold a cumulative 573,268 shares of its common stock at prices ranging from $62.6504 to $68.3109 in a series of seven transactions, according to a Form 4 filing made with the SEC late Thursday. 

The company said in the filing the sales were pursuant to a pre-established 10b5-1 trading plan.

The sales fetched Plug Power's CEO about $37.7 million.

Related Link: FuelCell Pulls Back On Q4 Results, Plug Power Moves In Sympathy

Earlier on the same day, Marsh purchased a cumulative 573,268 shares at a weighted average price of $2.88 per share through the exercising of stock options vested as part of an employment benefit plan. The amount spent was about $2.3 million.

Marsh's net gain from the sale is around $35.4 million.

Why It's Important: The insider selling was within the regulatory framework, and even after the sale, Marsh is left with 748,680 shares in the company.

That said, the sales could stir some anxiety among Wall Street observers who are already worried about stretched valuation.

The company is scheduled to report its fourth-quarter results Tuesday, and the quarterly update could give further insights into the company's fundamental strength.

PLUG Price Action: At last check, Plug Power shares were trading down slightly at $63.65. 

Related Link: Plug Power Rallies On JV Partnership With Renault For Hydrogen-Powered Vehicles In Europe

Photo courtesy of Plug Power. 

Posted In: Fuel CellhydrogenNewsManagementInsider Trades

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.