Summary by Moomoo AI
FuelCell Energy, Inc. (FuelCell) has announced the amendment and restatement of its Third Amended and Restated 2018 Omnibus Incentive Plan, now referred to as the Fourth Amended and Restated 2018 Omnibus Incentive Plan, subject to stockholder approval. The plan aims to attract and retain key employees and directors while increasing shareholder value by offering opportunities to acquire company shares or receive monetary payments based on share value. The amendment includes an additional 25,000,000 shares reserved for awards under the plan, with 10,527,264 shares reserved for settlement of certain awards made in December 2023, contingent upon stockholder approval at the 2024 Annual Meeting. If not approved, these contingent awards will be canceled. The plan also outlines provisions for adjustment and change of control, ensuring that awards remain equitable in the event of corporate transactions. The Board of Directors recommends stockholder approval of the amended plan, which will become effective on April 4, 2024, if sanctioned during the Annual Meeting.