SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SMART HYDROGEN, INC.

(Last)

(First)

(Middle)

135 ARCH. MAKARIOS III AVENUE

EMELLE BLDG., 2ND FLOOR, OFFICE NO.22

(Street)

LIMASSOL, CYPRUS CY-3021

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PLUG POWER INC [ PLUG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/08/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.01 per share	02/08/2008		P		2,500	A	$3	5,064,204	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		200	A	$3.01	5,064,404	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		177	A	$3.02	5,064,581	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		200	A	$3.0275	5,064,781	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		7,423	A	$3.03	5,072,204	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		2,000	A	$3.04	5,074,204	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		1,700	A	$3.05	5,075,904	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		1,400	A	$3.06	5,077,304	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		3,600	A	$3.07	5,080,904	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		200	A	$3.075	5,081,104	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		2,200	A	$3.08	5,083,304	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		2,800	A	$3.09	5,086,104	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		100	A	$3.095	5,086,204	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		600	A	$3.0975	5,086,804	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		4,000	A	$3.1	5,090,804	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		4,200	A	$3.11	5,095,004	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		100	A	$3.115	5,095,104	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		6,500	A	$3.12	5,101,604	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		400	A	$3.14	5,102,004	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		3,100	A	$3.15	5,105,104	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		4,800	A	$3.16	5,109,904	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		4,200	A	$3.17	5,114,104	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		2,600	A	$3.18	5,116,704	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		500	A	$3.19	5,117,204	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		1,300	A	$3.2	5,118,504	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		800	A	$3.22	5,119,304	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		800	A	$3.23	5,120,104	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		100	A	$3.25	5,120,204	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		100	A	$3.28	5,120,304	D⁽¹⁾
Common Stock, par value $0.01 per share	02/08/2008		P		700	A	$3.29	5,121,004	D⁽¹⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class B Capital Stock, par value $0.01	$39,500,000⁽²⁾							⁽¹⁾⁽²⁾	⁽¹⁾⁽²⁾	Common Stock, par value $0.01	395,000⁽²⁾		395,000	D⁽¹⁾

1. Name and Address of Reporting Person^*

SMART HYDROGEN, INC.

(Last)

(First)

(Middle)

135 ARCH. MAKARIOS III AVENUE

EMELLE BLDG., 2ND FLOOR, OFFICE NO.22

(Street)

LIMASSOL, CYPRUS CY-3021

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

MMC NORLISK NICKEL

(Last)

(First)

(Middle)

22 VOZNESENSKY PEREULOK

(Street)

MOSCOW, RUSSIA 125009

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Clayburn Development Inc.

(Last)

(First)

(Middle)

PASEA ESTATE

ROAD TOWN

(Street)

TORTOLA, BVI

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Branton LTD

(Last)

(First)

(Middle)

KINGS COURT, 1ST FLOOR

BAY STREET, P.O. BOX N-3944

(Street)

NASSAU, BAHAMAS

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

PROKHOROV MIKHAIL D

(Last)

(First)

(Middle)

22 VOZNESENSKY PEREULOK

(Street)

MOSCOW, RUSSIA 125009

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

POTANIN VLADIMIR O

(Last)

(First)

(Middle)

9 BOLSHAYA YAKIMANKA STREET

(Street)

MOSCOW, RUSSIA 119180

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

Director	X	10% Owner
Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The shares reported above are held directly by Smart Hydrogen Inc. ("Smart Hydrogen"), which is jointly owned and controlled by Clayburn Development Inc. ("Clayburn") and Branton Limited ("Branton"). Branton and Clayburn share investment control and controlling shareholder status over Smart Hydrogen and, as such, are indirect beneficial owners of the reported shares of Common Stock and Class B Capital Stock. Clayburn is a wholly-owned subsidiary of MMC Norilsk Nickel ("Norilsk"). Therefore, Norilsk is an indirect beneficial owner of the reported shares of Common Stock. Mikhail D. Prokhorov and Vladimir O. Potanin share investment control and controlling shareholder status over Branton and Norilsk and, as such, are indirect beneficial owners of the reported shares of Common Stock and Class B Capital Stock.

2. Each share of Class B Capital Stock is convertible at any time into 100 shares of Plug Power Inc.'s Common Stock, par value $0.01 per share, subject to certain adjustments in the case of a stock split or reverse stock split of the Common Stock or a reorganization, recapitalization, reclassification, consolidation or merger involving Plug Power Inc.

	/s/ Athina Karelidou, Director of Smart Hydrogen Inc.	02/11/2008
	/s/ Denis S. Morozov, CEO and Chairman of the Management Board of MMC Norilsk Nickel	02/11/2008
	/s/ Andrey Smirnov, Attorney-In-Fact for Clayburn Development Inc.	02/11/2008
	/s/ Maria Lambrianidou, Dierctor of Branton Limited	02/11/2008
	/s/ Mikhail D. Prokhorov	02/11/2008
	/s/ Vladimir O. Potanin	02/11/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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