Core Viewpoint - Plug Power's stockholders approved an increase in authorized shares from 1.5 billion to 3.0 billion, while rejecting a proposal to amend voting requirements for future charter amendments [11][13]. Proposal Summaries - Proposal 1 aimed to amend the company's charter to align voting requirements for certain future amendments with Delaware law, but it was rejected by stockholders [6][13]. - Proposal 2 sought to increase the number of authorized shares of common stock from 1.5 billion to 3.0 billion, which was approved by stockholders [11][13]. Meeting Details - The special meeting of stockholders was held virtually on February 12, 2026, after being adjourned multiple times [5]. - A quorum was established with 463,878,415 shares represented, allowing the meeting to proceed [2]. Voting Process - Stockholders were able to vote online and submit questions during the meeting, with no formal questions submitted regarding the business [4][7]. - CEO Andy Marsh acknowledged the role of retail investors in the approval of Proposal 2 and emphasized the need for easier broker voting in the future [6][10]. Future Plans - The company plans to revisit the rejected Proposal 1 at the annual meeting and work with Nasdaq to facilitate its passage [6][13]. - An updated earnings call is scheduled for March, hosted by the company's president and chief revenue officer [15]. Company Overview - Plug Power specializes in hydrogen fuel cell systems, providing clean energy solutions for electric vehicles and material handling equipment [16]. - The company also develops backup power and off-grid energy solutions targeting telecommunications and utility applications [17].

Core Viewpoint - Plug Power is urging shareholders to vote "yes" on Proposal 2, which seeks to increase the number of authorized shares to meet contractual obligations from recent financing transactions, including a warrant sale that raised $370 million and a convertible note deal [1][3][6] Financing and Shareholder Proposal - The company needs additional authorized shares to fulfill obligations from a warrant transaction that could potentially bring in $1.2 billion if exercised, contingent on the stock price exceeding $7.75 [1][6] - CEO Andy Marsh emphasized that authorizing shares does not equate to issuing them, and the additional shares could support future business growth, including mergers and acquisitions [3][7] - If Proposal 2 fails, the company may have to pursue a reverse stock split, which Marsh believes typically results in a lower stock price [2][7][12] Voting Status and Logistics - As of the latest update, approximately 52% of outstanding shares had voted, with around 48% (estimated at 670 million shares) still not voted [11] - The company is working to facilitate voting for European and Asian shareholders, addressing challenges such as broker fees and custody issues [9] Project Development and Cash Management - Plug Power is focused on significant projects, including a $10 billion initiative in Uzbekistan and opportunities in data centers, aiming to reduce cash burn by approximately 50% with a target of EBITDA break-even by the end of 2026 [5][13][17] - The company is optimistic about the U.S. hydrogen economy, citing supportive legislation and tax credits that bolster its material handling business [15] Company Overview - Plug Power specializes in hydrogen fuel cell systems, providing clean energy solutions for electric vehicles and material handling equipment, with offerings that include ProGen fuel cell engines and GenDrive power systems [18][19]