Employee Benefit Plans (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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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, 2024 | | June 30, 2023 | | June 30, 2024 | | June 30, 2023 | Cost of sales | $ | 2,079 | | $ | 2,439 | | $ | 4,085 | | $ | 5,116 | Research and development | | 2,251 | | | 1,765 | | | 4,593 | | | 4,047 | Selling, general and administrative | | 18,416 | | | 32,657 | | | 24,440 | | | 67,886 | | $ | 22,746 | | $ | 36,861 | | $ | 33,118 | | $ | 77,049 |
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| Nonvested Restricted Stock Shares Activity |
The following table reflects the restricted common stock and restricted stock unit activity for the six months ended June 30, 2024 (in thousands except share amounts): | | | | | | | | | | | | | Weighted | | Aggregate | | | | | Average Grant Date | | Intrinsic | | | Shares | | Fair Value | | Value | Unvested restricted stock at December 31, 2023 | | 6,732,884 | | $ | 15.66 | | $ | 30,298 | Granted | | 1,054,057 | | | 2.85 | | | — | Vested | | (573,045) | | | 17.84 | | | — | Forfeited | | (931,081) | | | 17.88 | | | — | Unvested restricted stock at June 30, 2024 | | 6,282,815 | | $ | 12.98 | | $ | 14,639 |
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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, 2023 | | 17,336,362 | | $ | 11.37 | | | 7.86 | | $ | 11,391 | Options exercisable at December 31, 2023 | | 8,288,944 | | | 11.84 | | | 6.18 | | | 7,250 | Options unvested at December 31, 2023 | | 9,047,418 | | | 10.94 | | | 9.39 | | | 4,141 | Granted | | 4,968,125 | | | 2.51 | | | — | | | — | Exercised | | (32,500) | | | 2.15 | | | — | | | — | Forfeited | | (2,018,782) | | | 18.42 | | | — | | | — | Options outstanding at June 30, 2024 | | 20,253,205 | | $ | 8.51 | | | 7.53 | | $ | 464 | Options exercisable at June 30, 2024 | | 7,954,524 | | | 11.15 | | | 5.66 | | | 464 | Options unvested at June 30, 2024 | | 12,298,681 | | $ | 6.80 | | | 8.75 | | $ | — |
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| Performance Stock Option 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, 2023 | | 21,925,000 | | $ | 21.32 | | 5.27 | | $ | — | Options exercisable at December 31, 2023 | | 2,782,000 | | | 26.9 | | 4.7 | | | — | Options unvested at December 31, 2023 | | 19,143,000 | | | 20.50 | | 5.35 | | | — | Granted | | 2,452,500 | | | 2.41 | | 6.82 | | | — | Exercised | | — | | | — | | — | | | — | Forfeited | | (2,250,000) | | | — | | — | | | — | Options outstanding at June 30, 2024 | | 22,127,500 | | $ | 19.33 | | 4.94 | | $ | — | Options exercisable at June 30, 2024 | | 4,038,667 | | | 20.99 | | 4.74 | | | — | Options unvested at June 30, 2024 | | 18,088,833 | | $ | 18.96 | | 4.98 | | $ | — |
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