Employee Benefit Plans (Tables)
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6 Months Ended |
Jun. 30, 2023 |
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| Schedule of components and classification of stock-based compensation expense |
The components and classification of stock-based compensation expense, excluding the Company’s matching contributions to the Plug Power Inc. 401(k) Savings & Retirement Plan and quarterly Board compensation, were as follows (in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, 2023 | | June 30, 2022 | | June 30, 2023 | | June 30, 2022 | Cost of sales | | $ | 2,439 | | $ | 1,268 | | $ | 5,116 | | $ | 3,144 | Research and development | | | 1,765 | | | 857 | | | 4,047 | | | 2,579 | Selling, general and administrative | | | 32,657 | | | 40,428 | | | 67,886 | | | 77,776 | | | $ | 36,861 | | $ | 42,553 | | $ | 77,049 | | $ | 83,499 |
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| Nonvested Restricted Stock Shares Activity |
A summary of restricted stock and restricted stock unit activity for the six months ended June 30, 2023 is as follows (in thousands except share amounts): | | | | | | | | | | | | | Weighted | | Aggregate | | | | | Average Grant Date | | Intrinsic | | | Shares | | Fair Value | | Value | Unvested restricted common stock and restricted stock units at December 31, 2022 | | 6,276,376 | | $ | 21.56 | | $ | 77,639 | Granted | | 388,693 | | | 10.42 | | | — | Vested | | (561,915) | | | 29.96 | | | — | Forfeited | | (573,323) | | | 24.43 | | | — | Unvested restricted common stock and restricted stock units at June 30, 2023 | | 5,529,831 | | $ | 19.62 | | $ | 57,455 |
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| Service Stock Options Awards |
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| Schedule of Share-based Compensation, Stock Options, Activity |
| | | | | | | | | | | | | | | | | | | | Weighted | | | | | | | | | Weighted | | Average | | | | | | | | | Average | | Remaining | | Aggregate | | | | | | Exercise | | Contractual | | Intrinsic | | | Shares | | Price | | Terms | | Value | Options outstanding at December 31, 2022 | | $ | 12,078,269 | | $ | 14.34 | | $ | 7.57 | | $ | 42,835 | Granted | | | 471,593 | | | 9.94 | | | | | | | Exercised | | | (186,437) | | | 3.93 | | | | | | | Forfeited | | | (467,033) | | | 24.74 | | | | | | | Options outstanding at June 30, 2023 | | $ | 11,896,392 | | $ | 13.92 | | $ | 7.17 | | $ | 33,238 | Options exercisable at June 30, 2023 | | | 6,963,514 | | | 10.09 | | | 6.10 | | | 32,391 | Options unvested at June 30, 2023 | | $ | 4,932,878 | | $ | 19.33 | | $ | 8.66 | | $ | 847 |
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| Performance Stock Option Awards |
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| Assumptions made for the purpose of estimating fair value |
| | | | | Six Months Ended | | | June 30, 2023 | Remaining VWAP performance period (years) | | 3 | Risk-free interest rate | | 3.60% | Expected volatility | | 75.00% | Closing stock price on grant date | | $ 7.87 |
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| Schedule of Share-based Compensation, Stock Options, Activity |
| | | | | | | | | | | | | | | | | Weighted | | | | | | | | Weighted | | Average | | | | | | | | Average | | Remaining | | Aggregate | | | | | Exercise | | Contractual | | Intrinsic | | | Shares | | Price | | Terms | | Value | Options outstanding at December 31, 2022 | | 15,520,000 | | $ | 26.87 | | 5.81 | | $ | — | Granted | | 6,405,000 | | | 7.87 | | 6.88 | | | — | Options outstanding at June 30, 2023 | | 21,925,000 | | $ | 21.32 | | 5.78 | | $ | — | Options exercisable at June 30, 2023 | | 1,391,000 | | | 26.92 | | 5.23 | | | — | Options unvested at June 30, 2023 | | 20,534,000 | | $ | 20.94 | | 5.81 | | $ | — |
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