Employee Benefit Plans (Tables)

9 Months Ended

Sep. 30, 2022

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				Nine months ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Cost of sales	$	1,821	$	680	$	4,928	$	1,231
Research and development		1,483		1,782		4,062		4,534
Selling, general and administrative		40,935		10,237		118,710		26,550
	$	44,239	$	12,699	$	127,700	$	32,315

Nonvested Restricted Stock Shares Activity

A summary of restricted stock activity for the nine months ended September 30, 2022 is as follows (in thousands except share amounts):

		Weighted		Aggregate
		Average Grant Date		Intrinsic
	Shares	Fair Value		Value
Unvested restricted stock at December 31, 2021	4,851,873	$	21.59	$	136,968
Granted	1,476,152		23.60		—
Vested	(2,474,065)		13.87		—
Forfeited	(116,668)		24.89		—
Unvested restricted stock at September 30, 2022	3,737,292	$	23.50	$	78,521

Service Options Awards

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, 2021	$	9,786,909	$	11.65	$	7.70	$	172,412
Granted		1,097,974		23.55		—		—
Exercised		(727,992)		2.86		—		—
Forfeited		(127,634)		24.05		—		—
Options outstanding at September 30, 2022	$	10,029,257	$	13.47	$	7.35	$	101,193
Options exercisable at September 30, 2022		6,561,842		8.35		6.63		90,283
Options unvested at September 30, 2022	$	3,467,415	$	23.15	$	8.72	$	10,910

Performance Option Awards

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, 2021	14,020,000	$	26.92	6.70	$	18,336,200
Granted	1,500,000		26.38	6.89		—
Options outstanding at September 30, 2022	15,520,000	$	26.87	6.07	$	—
Options exercisable at September 30, 2022	1,391,000		26.92	5.98		—
Options unvested at September 30, 2022	14,129,000	$	26.86	6.07	$	—