Plug Power Inc. has secured shareholder consent to double its authorized share count, following a meeting that required an extension to gather sufficient votes. The company’s special meeting, initially scheduled for late January, was adjourned to February 5, 2026, after failing to achieve the necessary quorum.
Meeting Adjourned to Solicit More Votes
Due to insufficient voter participation, Plug Power postponed its special meeting of stockholders. While the proposals on the ballot received overwhelming support from votes that were cast, the overall turnout fell short of the required threshold. For Proposal 1, approximately 92.63% of votes submitted were in favor, and Proposal 2 saw 89.09% support. However, these figures represented only 36.93% and 46.86% of the total outstanding shares, respectively.
The adjournment provides additional time for shareholders to submit their proxies. To pass, Proposal 1 requires another 13.07% of outstanding shares to be voted in favor, while Proposal 2 needs an additional 3.14%.
Share Increase Receives Strong Backing
The second proposal, which seeks to increase the number of authorized shares from 1.5 billion to 3 billion, garnered 652.86 million votes for and 73.65 million against. This substantial margin indicates broad shareholder acceptance of the capital-raising measure, despite its potential dilutive effect.
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Should the proposal ultimately fail on February 5, the company has outlined a backup plan involving a reverse stock split. This alternative mechanism would also create additional authorized shares by consolidating existing stock.
Investor Call Precedes Final Vote
Prior to the reconvened meeting, Plug Power has scheduled an investor question-and-answer session for February 2. This conference call will focus exclusively on the proposals under consideration. The definitive stockholder meeting will then take place at 10:00 a.m. local time on February 5.
Separately, the company’s fourth-quarter 2025 financial results are anticipated on March 2, according to a Nasdaq listing.
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