![]() In 2021, a “meme”-stock inspired run-up took it up another 115.8% to a 16-year high of $73.18 on Jan. The big award comes after Plug Power’s stock skyrocketed 973.1% in 2020, after soaring 154.8% in 2019. “he Compensation Committee used its collective judgment to size the performance stock option grants for the CEO and the other management team participants at levels that it believed would be motivational and retentive and, most importantly, pay for actual performance delivery and value creation,” the proxy statement said. Plug said that while it recognizes that the 2021 long-term incentive equity award program is “unconventional,” as the compensation committee does not use a prescribed formula for setting the size of the stock option grants, “we firmly believe that it is imperative to meet this transformational moment” in Plug Power’s history to have a “bold” incentive design. ![]() In the proxy’s pay ratio disclosure, the company said using the “realizable value” of the performance-based stock options granted in 2021, his total compensation would only be $2.76 million. ![]() Said the value of option awards awarded to Marsh represent the aggregate grant date fair values of such performance-based stock options assuming the probable outcome of the performance conditions based on the maximum level of achievement. Plug Power didn’t respond to a request for comment. The 2021 comp included a base salary of $750,000, up from $676,442 in 2020, and options awards valued at $50.80 million versus $4.18 million the year before.
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