PLUG Plug Power Inc - 8-K

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 4, 2026, the Board of Directors (the “Board”)
of Plug Power Inc. (the “Company”) appointed Jose Luis Crespo as a director of the Company.

Mr. Crespo has been designated as a Class III director to serve until
the Company’s 2026 annual meeting of the stockholders or until his successor has been duly elected and qualified, or until his earlier
death, removal or resignation.

Mr. Crespo is currently serving as the Chief Executive Officer
and President of the Company. Mr. Crespo previously served as the Chief Revenue Officer of the Company from November 2024 to March 2026.
Mr. Crespo joined the Company as Vice President of Business and International Sales in 2014. He was promoted to Vice President of Global
Sales in January 2015 and in 2016 he was appointed General Manager for Hypulsion, the Company’s wholly owned European subsidiary.
In 2021, Mr. Crespo was appointed General Manager of Material Handling and Executive Vice President, and in May 2023, he was named General
Manager of Applications and Executive Vice President. Prior to joining the Company, Mr. Crespo served as Vice President of International
Value Stream at Smiths Power, a supplier of power distribution, conditioning, protection and monitoring solutions for data centers, wireless
communications and other critical or high-value electrical systems, from 2009 to 2013. Mr. Crespo currently serves on the board of directors
of AccionaPlug S.L., a joint venture of the Company and Acciona Generación Renovable, S.A. Mr. Crespo holds a Master of Business
Administration from the University of Phoenix and a degree in Telecommunications Engineering from the Engineering University of Madrid,
Spain.

There is no arrangement or understanding between Mr. Crespo and any
other person pursuant to which he was appointed as a director of the Company. There are no family relationships between Mr. Crespo and
any of the Company’s directors, executive officers or persons nominated or chosen by the Company to become a director or executive
officer. Mr. Crespo is not a participant in, nor is he to be a participant in, any related-person transaction or proposed related-person
transaction required to be disclosed by Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”), in connection with his appointment. In connection with his appointment to the Board, there were
no material plans, contracts or arrangements entered into or materially amended, and Mr. Crespo did not receive any grant or award under
any such plan, contract or arrangement. Mr. Crespo will not receive any additional compensation for his service as a director, and his
existing compensation arrangements as Chief Executive Officer and President remain unchanged.