PLUG Power (PLUG) executive compensation, 2026 proxy

Andrew J. Marsh, Non-Executive Chairman and Former Executive Chairman and Chief Executive Officer, was paid $4.4M in 2025, up 96% from $2.2M the year before. The CEO-to-median-employee pay ratio was 72:1, on median employee pay of $61,068.

Filed
April 30, 2026
Pay year
2025
Named executives
5
CEO total pay
$4.4M+96% vs prior year
CEO to median employee
72:1median $61,068
Prior say-on-pay support
80%of votes cast
Pay Ratio
72:1Ratio of CEO to median employee
Median Employee Pay
$61,068Annual total compensation
Say on Pay Support
80%Previous annual meeting vote
Annual Bonus Payout
112%Percentage of target

How Marsh was paid

$4.4M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary18%Option awards60%Non-equity incentive21%All other compensation1%

Named executive officers

ExecutiveTotal
Jose Luis CrespoChief Executive Officer and President$2,618,833
Andrew J. MarshNon-Executive Chairman and Former Executive Chairman and Chief Executive Officer$4,400,653
Paul B. MiddletonChief Financial Officer and Executive Vice President$3,339,519
Dean C. FullertonChief Operating Officer$3,039,071
Benjamin HaycraftChief Strategy Officer and General Manager EMEA Region$2,258,889

What changed and why

  • 80%Approximately 80% of stockholders supported the 2025 say-on-pay advisory vote.
  • 112%Annual cash bonuses were earned at 112% of target for all named executive officers.
  • Andrew J. Marsh transitioned from Chief Executive Officer to non-executive Chairman on March 2, 2026.
  • Jose Luis Crespo was appointed Chief Executive Officer effective March 2, 2026.
  • Paul B. Middleton received a cash bonus in lieu of an annual equity award.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.