PL insider to sell 376,748 shares after option exercise ($5.90M)

Rhea-AI Filing Summary

Form 144 notice for Planet Labs PBC (PL) reports a proposed sale of 376,748 common shares by an insider via Morgan Stanley Smith Barney LLC on the NYSE. The filer indicates the shares were acquired and paid for the same day through a stock option exercise on 10/06/2025, and the aggregate market value of the shares at the time of the notice is $5,903,264.41. The filer certifies no undisclosed material adverse information is known and reports no other sales in the prior three months. The notice specifies cash payment for the exercised shares and lists the broker's address.

Positive

• Brokered sale via Morgan Stanley Smith Barney LLC suggests professional execution
• Insider attests no undisclosed material information, reducing immediate disclosure risk
• No other sales in prior three months indicates this is an isolated liquidity event

Negative

• Large block of shares—376,748 could be meaningful depending on free float
• Immediate proposed sale after option exercise may be viewed by some investors as insider liquidity

Insights

Securities Compliance Attorney

TL;DR: The filing documents a compliant Rule 144 sale after a same‑day option exercise.

The notice shows a proposed sale under Rule 144 of 376,748 common shares, acquired by stock option exercise and paid in cash on 10/06/2025. The filer uses a registered broker and attests that no material nonpublic information is known.

Key compliance dependencies include meeting Rule 144 holding‑period and volume limits and the broker’s procedures; the filing itself does not state whether volume or other Rule 144 requirements have been satisfied, so monitoring broker execution and any subsequent Form 4 or filing records over the coming days is advisable.

Equity Capital Markets Analyst

TL;DR: A single insider sale of 376,748 shares valued at $5.90M is modest relative to many public float sizes.

The transaction arose from an option exercise and immediate proposed sale through Morgan Stanley Smith Barney LLC on the NYSE. The filer reports no other sales in the prior three months, indicating this is an isolated liquidity event.

Investor signals to watch over the short term include any executed trade reports or subsequent insider filings that confirm sale timing and volume; absent additional filings, this notice alone is a routine insider liquidity action dated 10/06/2025.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	376748	5903264.41	307923003	10/06/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	10/06/2025	Stock Option Exercise	Issuer			376748	10/06/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Planet Labs (PL) Form 144 report?

The filing reports a proposed sale of 376,748 common shares acquired by a stock option exercise and paid in cash on 10/06/2025, with an aggregate market value of $5,903,264.41.

Who is arranging the sale for PL shares?

The sale is to be executed through Morgan Stanley Smith Barney LLC on the NYSE.

Does the filing indicate other insider sales for PL in the last three months?

No. The form states "Nothing to Report" for securities sold during the past three months.

When were the shares acquired for this Form 144 transaction?

The shares were acquired via a stock option exercise on 10/06/2025, with payment in cash the same day.

Does the filer claim any undisclosed material information?

The filer represents by signature that they do not know any undisclosed material adverse information regarding the issuer.