Planet Labs (NYSE: PL) co-founder logs earnout vesting, tax shares
Rhea-AI Filing Summary
Planet Labs PBC co-founder and Chief Strategy Officer Robert H. Schingler, a director of the company, reported multiple equity transactions dated January 13, 2026. An earnout triggered by the company’s stock price resulted in 72,728 Class A common shares being issued to him at an exercise price of $0, and a related entry shows he held 907,286 Class A shares directly immediately afterward.
To cover tax withholdings on this equity, 31,455 Class A shares were disposed of at $25.32 per share, leaving 875,831 Class A shares directly held, which includes 834,558 RSUs that vest quarterly. Separately, an affiliated entity, Ulysses Trust 02021.1, received earnout awards of 584,052 Class B and corresponding Class A shares at $0 exercise price and is shown as indirectly holding additional Class A and Class B interests.
Positive
- None.
Negative
- None.
Insights
Activity reflects earnout vesting and tax withholding, not open-market selling.
The transactions show Robert H. Schingler receiving Class A and Class B earnout shares after Planet Labs met specified stock price thresholds of $15.00 and $17.00. These earnouts are contingent equity awards tied to share-price performance, and the exercise price is listed as $0, indicating they function as no-cost equity vesting rather than cash-funded option exercises.
A disposition of 31,455 Class A shares at $25.32 per share is coded as "F", indicating shares withheld to satisfy taxes on vested equity, not a discretionary sale into the market. The filing also notes that 834,558 RSUs continue to vest quarterly, and that Ulysses Trust 02021.1 holds significant indirect Class A and Class B interests. Overall, this is routine equity compensation and trust-related restructuring, with no clear signal of a change in insider sentiment.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Earnout - Class A Shares | 72,728 | $0.00 | -- |
| Exercise | Earnout - Class B Shares | 584,052 | $0.00 | -- |
| Exercise | Class B Common Stock | 584,052 | $0.00 | -- |
| Exercise | Class A Common Stock | 72,728 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 31,455 | $25.32 | $796K |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Includes 834,558 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. Represents the issuance of earnout shares as a result of the achievement of the $15.00 and $17.00 stock price thresholds. The remaining earnout shares will vest in two substantially equal installments if the closing price of the Class A Common Stock equals or exceeds $19.00 and $21.00 over any 20 trading days within any 30 day trading period prior to December 7, 2026, or if the Issuer consummates a change of control transaction prior to December 7, 2026 that entitles its stockholders to receive a per share consideration of at least $19.00 and $21.00. Shares of Class B Common Stock may be converted into shares of Class A Common Stock, on a one-to-one basis, at the option of the holder at any time and have no expiration date.
