Plug Power shareholders reject annual incentive plan
* Co says stock option and incentive plan not approved
* Says largest stockholder did not vote on the proposal
June 17 (Reuters) – Fuel-cell maker Plug Power Inc (PLUG.O) said its shareholders rejected its stock option and incentive plan for the year.
The company said it did not get the required number of votes at the annual general meeting as its largest shareholder was present at the meeting by proxy and did not vote on the plan proposal.
Plug Power also said shareholders re-elected three incumbent directors in the meeting.
The company had originally convened its annual general meeting on May 20. The meeting had to be adjourned till June 17 to enable the company’s largest stockholder to decide on its vote.
Shares of the company closed at 94 cents Wednesday on Nasdaq.
