[Form 4] Planet Labs PBC Insider Trading Activity

Rhea-AI Filing Summary

Form 4 overview – ADT Inc. (symbol: ADT)

Chief Financial Officer and President, Corporate Development & Transformation, Jeffrey Likosar reported three transactions dated 07/08/2025.

• 350 common shares acquired (Code A) at $0 cost. Footnote 1 clarifies these are Dividend Equivalent Units tied to previously granted Restricted Stock Units that vest on March 1, 2026.
• 575,280 shares transferred out of direct ownership (Code G, disposition) with no monetary consideration.
• The same 575,280 shares received by MTCF LLC (Code G, acquisition). Footnote 2 states this is a change in the form of ownership; no shares were sold. MTCF LLC is identified in Footnote 3 as an entity that Mr. Likosar manages.

Post-transaction holdings

• Direct: 1,204,493 shares
• Indirect via MTCF LLC: 575,280 shares
• Indirect via JSKC LLC (unchanged): 1,899,274 shares

Total beneficial ownership remains substantial, and no open-market sales occurred.

Key takeaways for investors: The filing reflects estate/ownership structuring rather than an economic sale. Insider’s aggregate exposure to ADT stock is maintained, signalling a neutral-to-positive stance on the company’s prospects.

Positive

• No open-market sales; insider retains full economic exposure.
• Additional 350 shares (Dividend Equivalent Units) added at no cost, marginally increasing ownership.

Negative

• None.

Insights

Financial Analyst

TL;DR – No shares sold; ownership simply re-titled, insider exposure intact.

The Form 4 shows administrative movements, not a change in economic interest. The 350 DEUs are immaterial (<0.03 % of total holdings) but indicate continued incentive alignment through equity compensation. The 575k-share shift to MTCF LLC is typically driven by tax or estate planning. With more than 3.6 million shares still controlled, the CFO remains heavily invested. From a market-impact perspective, the absence of sales reduces bearish interpretations and is neutral-to-slightly supportive for sentiment.

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).

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^*

Raymond John w

(Last) (First) (Middle)

C/O PLANET LABS PBC

645 HARRISON STREET, FLOOR 4

(Street)

SAN FRANCISCO CA 94107

(City) (State) (Zip)

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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/10/2025

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

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

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

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	07/10/2025		A		32,468(1)	A	$0	43,608(1)	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. Includes 32,468 restricted stock units, each of which represent a contingent right to receive one share of issuer's Class A Common Stock ("RSUs"). The RSUs will fully vest on the earlier of (i) the first anniversary of the grant or (ii) the date of the Issuer's next annual meeting of stockholders to occur following the grant, in either case, subject to continuous service through the vesting date.

Remarks:

	/s/LeeAnn Linck, Attorney-in-fact for John W. Raymond	07/10/2025
	** 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.

FAQ

How many ADT shares does CFO Jeffrey Likosar now own?

After the reported transactions, he controls 1,204,493 shares directly and 2,474,554 shares indirectly, totaling 3,679,047 shares.

Did the insider sell any ADT stock?

No. The 575,280-share movement was a non-sale transfer to an LLC he controls; no cash changed hands.

What are the 350 shares acquired at $0 cost?

They are Dividend Equivalent Units linked to Restricted Stock Units that will vest on 03/01/2026.

Why were 575,280 shares transferred to MTCF LLC?

Footnote 2 states it was a change in ownership form from direct to indirect; common for tax or estate planning, not a sale.

Does this Form 4 signal bullish or bearish insider sentiment toward ADT?

The filing is largely neutral; ownership levels are unchanged and no disposals occurred, so it does not indicate bearish sentiment.