Planet Labs (PL) CEO trades 200,000 shares in Rule 10b5-1 sale

Rhea-AI Filing Summary

Planet Labs PBC director and Co-Founder and CEO Marshall William Spencer reported an open-market sale of 200,000 shares of Class A Common Stock on July 10, 2026 at a weighted-average price of $25.9197 per share, executed pursuant to a Rule 10b5-1 trading plan. Following the sale, he directly holds 2,703,115 shares, including 1,958,187 RSUs that vest in equal quarterly installments.

Insider Trade Summary 10b5-1

Net Seller: 200,000 shares ($5,183,940)

Net Sell 1 txn

Insider Marshall William Spencer

Role Co-Founder and CEO

Sold 200,000 shs ($5.18M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	200,000	$25.9197	$5.18M

Holdings After Transaction: Class A Common Stock — 2,703,115 shares (Direct)

Footnotes (1)

1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 12, 2025. The sales were executed in multiple trades at prices ranging from $25.33 to $27.17. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price. Includes 1,958,187 RSUs that vest in equal quarterly installments on the 15th of March, June, September and December. The RSUs represent a contingent right to receive one share of issuer's Class A Common Stock each and have no expiration date.

Key Figures

Shares sold: 200,000 shares Weighted-average sale price: $25.9197 per share Shares owned after transaction: 2,703,115 shares +1 more

4 metrics

Shares sold 200,000 shares Class A Common Stock sold in open-market transaction on July 10, 2026

Weighted-average sale price $25.9197 per share Average price for 200,000 Class A shares sold on July 10, 2026

Shares owned after transaction 2,703,115 shares Total direct holdings of Marshall William Spencer following the reported sale

RSUs included in holdings 1,958,187 RSUs Restricted stock units that vest in equal quarterly installments and each represent one share

Key Terms

Rule 10b5-1 trading plan, RSUs, weighted average sale price

3 terms

Rule 10b5-1 trading plan regulatory

"executed pursuant to a Rule 10b5-1 trading plan adopted"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

RSUs financial

"Includes 1,958,187 RSUs that vest in equal quarterly installments"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

weighted average sale price financial

"The price reported reflects the weighted average sale price"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/13/2026 - 08:23 PM Accepted by SEC EDGAR 07/13/2026 - 08:23 PM Learn about SEC filing dates

FAQ

What insider transaction did Planet Labs (PL) report for its CEO on July 10, 2026?

Marshall William Spencer, Planet Labs’ Co-Founder and CEO, reported an open-market sale of 200,000 Class A shares on July 10, 2026 at a weighted-average price of $25.9197 per share, according to the Form 4 filing.

Was the Planet Labs (PL) CEO share sale made under a Rule 10b5-1 trading plan?

Yes. The Form 4 states the transaction was executed pursuant to a Rule 10b5-1 trading plan adopted by Marshall William Spencer on July 12, 2025, indicating the sales were pre-arranged rather than discretionary trades.

How many Planet Labs (PL) shares does Marshall William Spencer hold after this sale?

After selling 200,000 shares, Marshall William Spencer directly holds 2,703,115 Planet Labs shares. This figure includes 1,958,187 RSUs, which are restricted stock units that can settle into shares over time as they vest.

What price range did the Planet Labs (PL) CEO receive for the shares sold?

The CEO’s sales were executed in multiple trades at prices ranging from $25.33 to $27.17 per share. The Form 4 reports a weighted-average sale price of $25.9197 for the 200,000 Class A shares sold.

How do the RSUs reported in the Planet Labs (PL) Form 4 vest?

The filing notes 1,958,187 RSUs that vest in equal quarterly installments on the 15th of March, June, September and December. Each RSU represents a contingent right to receive one share of Class A Common Stock and has no expiration date.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Marshall William Spencer

(Last) (First) (Middle)

C/O PLANET LABS PBC

645 HARRISON STREET, FLOOR 4

(Street)

SAN FRANCISCO CALIFORNIA 94107

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Planet Labs PBC [ PL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Founder and CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	07/10/2026		S		200,000(1)	D	$25.9197(2)	2,703,115(3)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This transaction was executed pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on July 12, 2025.

2. The sales were executed in multiple trades at prices ranging from $25.33 to $27.17. The price reported reflects the weighted average sale price. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.

3. Includes 1,958,187 RSUs that vest in equal quarterly installments on the 15th of March, June, September and December. The RSUs represent a contingent right to receive one share of issuer's Class A Common Stock each and have no expiration date.

	/s/ LeeAnn Linck, Attorney-in-fact for: William Spencer Marshall	07/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)