PL Form 144 Notice: Insider Sells 170,262 Warrants; Recent Sales Total $1.19M

Rhea-AI Filing Summary

Form 144 notice for Planet Labs PBC (PL) reports a proposed sale of 170,262 warrants through Morgan Stanley Smith Barney on 09/17/2025 with an aggregate market value of $349,633.02. The filer shows these warrants were acquired as Founder Stock on 03/05/2021 and paid in cash. The filing lists recent related sales by ISALEA INVESTMENTS LP totaling 612,029 warrants on 08/19/2025, 09/12/2025 and 09/16/2025 for combined gross proceeds of $1,185,965.86. The filer certifies no knowledge of undisclosed material adverse information and provides the standard Rule 144 representation.

Positive

• Complete Rule 144 disclosure including acquisition date, nature of acquisition, payment method, and broker information
• Filer represents no material nonpublic information in the required certification

Negative

• Significant recent warrant sales by ISALEA INVESTMENTS LP (612,029 warrants) in the past month could indicate insider liquidity activity
• Proposed sale adds to recent disposals, totaling meaningful warrant volume within a short period

Insights

Securities Analyst

TL;DR: Routine Rule 144 filing showing insider-related warrant sales; volumes are notable but not clearly material relative to total shares outstanding.

The filing documents a proposed sale of 170,262 warrants by a person whose holdings were acquired as founder stock in 2021. Sales were to be executed via Morgan Stanley Smith Barney on 09/17/2025. Recent executed sales by ISALEA INVESTMENTS LP totaled 612,029 warrants for about $1.19 million in gross proceeds during August–September 2025. With 12,833,315 warrants outstanding, the proposed sale represents about 1.33% of outstanding warrants while recent aggregated sales represent roughly 4.77% of outstanding warrants. This pattern is a disclosure of liquidity events rather than an operational update; it does not, on its face, indicate undisclosed material information because the filer affirms none exists.

Corporate Governance Expert

TL;DR: Filing meets Rule 144 disclosure requirements and contains the required representations; no governance red flags disclosed.

The notice provides acquisition details (Founder Stock on 03/05/2021) and payment method (cash), and attaches prior sales by a related investor entity. The signature/representation language affirms absence of material nonpublic information. From a governance perspective, the form is complete for its purpose: it documents proposed insider-related sales and recent disposition activity. The disclosure itself does not report executive departures, new related-party transactions, or regulatory issues.

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
Warrant	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	170262	349633.02	12833315	09/17/2025	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 *
Warrant	03/05/2021	Founder Stock	Issuer			170262	03/05/2021	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

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
ISALEA INVESTMENTS LP 645 Harrison Street Floor 4 SAN FRANCISCO CA 94107	Warrant	09/16/2025	422335	846021.47
ISALEA INVESTMENTS LP 645 Harrison Street Floor 4 SAN FRANCISCO CA 94107	Warrant	09/12/2025	169694	339727.39
ISALEA INVESTMENTS LP 645 Harrison Street Floor 4 SAN FRANCISCO CA 94107	Warrant	08/19/2025	10000	10217.00

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 Warrants did the Form 144 for Planet Labs (PL) report?

The filing reports a proposed sale of 170,262 warrants to be sold via Morgan Stanley Smith Barney on 09/17/2025 with aggregate market value of $349,633.02.

When were the warrants being sold originally acquired?

The warrants were acquired as Founder Stock on 03/05/2021 and the payment was made in cash on the acquisition date.

Have related warrant sales occurred recently for PL?

Yes. ISALEA INVESTMENTS LP sold 10,000 warrants on 08/19/2025, 169,694 on 09/12/2025, and 422,335 on 09/16/2025 for combined gross proceeds of $1,185,965.86.

What percentage of outstanding warrants does the proposed sale represent?

The proposed sale of 170,262 warrants represents about 1.33% of the 12,833,315 warrants outstanding as listed in the filing.

Does the filer assert there is any undisclosed material information?

No. By signing the Form 144, the person represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.