Plug Power Inc CEO’s Compensation Rises 65%

Plug Power Inc CEO’s Compensation Rises 65%

Plug Power Inc (NASDAQ:PLUG) stock continues to fly high, gaining 9% on Wednesday to $4.36. The stock is up more than 1200% in the last 12 months as the company signed deals with Central Grocers, Wal-Mart Stores, Inc. (NYSE:WMT) and FedEx Corporation (NYSE:FDX). Plug Power has registered $80 million of bookings this year so far, almost double the total bookings in 2013. With rising fortunes comes higher compensation, at least for Plug Power CEO Andy Marsh.

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Plug Power fails on C.H.A.O.S. Meter

In proxy voting materials sent to shareholders, Plug Power Inc (NASDAQ:PLUG) revealed that the company board has increased the compensation of top executives in 2013. CEO Andy Marsh received a total of $752,683 last year, up 65% from $458,000 in 2012. However, it’s still lower than $1.25 million that Marsh received in total compensation in 2011. In 2013, he received $450,000 in the form of salary, $135,667 in stock awards, $58,000 in stock options and another $93,750 in bonus for the year. Another $15,266 was described as other types of compensation.

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While Andy Marsh is laughing all the way to bank, Wall Street Daily director of resources Karim Rahemtulla says that Plug Power Inc (NASDAQ:PLUG) is “the purest form of wild, speculative frenzy with little more than a hope and a prayer for success.” Last month, Wall Street Daily technology analyst Marty Biancuzzo put Plug Power through his C.H.A.O.S. Meter, and the company failed miserably. Marty says the Latham, New York-based company is a highly volatile stock with shaky fundamentals and a speculative technology that has failed in the past. And that’s the reason Citron Research calls Plug Power a penny stock.

Cowen remains bullish on Plug Power

However, many other analysts are bullish on the stock. On May 15, Cowen & Co. analyst Robert Stone said in a research note that he has upgraded the stock to Outperform. Stone visited Plug Power Inc (NASDAQ:PLUG)’s factory where is saw a high level of activity. The $80 million in bookings suggest that revenues will be strong in the current quarter, and the company may turn profitable by the end of 2014. In April, the company raised $116 million in a secondary offering. Stone says it will help Plug Power expand its business.

Plug Power Inc (NASDAQ:PLUG) shares fell 1.61% to $4.29 in pre-market trading Thursday.

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  1. Unfortunately some of these “Boards” and “Leaders” of major companies are so disconnected with reality and how things play to the public they just don’t get it. “Hey, don’t give yourself or approve a major raise off the backs of bailout money or stock dilution. It looks bad, get it?”
    It is like telling a hunting dog, don’t chase the bird. You’re not even speaking of a behavior they can even consider controlling.

  2. Incidentally, Plug stated part of the monies Plug acquired through their last stock offering would be used for compensation. However, the timing is extraordinarily unadvisable and blatant. It’s something that ‘s done throughout the whole corporate world because it’s much too easy to do. The one most on my mind is Goldman Sach’s issuing big bonus packages after receiving TARP and putting the screws to the deal with AGS(?) Public companies need government regulations if the boards of these companies dont act more responsibily.

  3. I don’t see any of the 98 financial institutions selling their big holdings in PLUG. Why is that? I guess one can pick and choose their reasoning regarding stocks to structure it to their advantage. I haven’t the faintest idea why everyone posts their opinions for all to see except to advertise their product of advice. Sort of the Dear Abbey publications of the web sites. However, I have to admit it gives me the experience to ignore their advice and decide my future for myself. It serves me well to make my own decisions and easier when I’m wrong cause I don’t get stressed out blaming others. The business of peddling stock advice for a fee and profit is a nice way of amassing money for investing without risking your own.

  4. What a complete garbage article. PLUG has no chance of succeeding? That is why some of the biggest names in business have signed on with them.
    I will not ignore that PLUG has had a decade long lack of profits, but that is due more to the development of the technology and the industry. Just now are things starting to turn with increased orders, repeat customers and expansion into new markets.
    Does that justify a 65% raise, the board thought so.
    So many of the negative articles on PLUG are so misleading. How many companies are trading at levels of $20pps, $50pps, $100pps that don’t make money or are speculative? There is no reason that PLUG isn’t a $15-20stock, but it is being manipulated by shorts and bashers.

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