[Form 4] Palantir Technologies Inc. Insider Trading Activity

Rhea-AI Filing Summary

Palantir Technologies (PLTR) reported insider equity activity by its Chief Technology Officer and Executive Vice President. On November 20, 2025, the reporting person acquired rights to 375,000 restricted stock units (RSUs) for Class B common stock through incremental vesting, then converted portions of these Class B shares into Class A shares and immediately sold them to cover tax withholding obligations under a Rule 10b5-1 trading plan. Conversions included 149,872 Class B shares on November 20 and 19,004 on November 21, with the resulting Class A shares sold in multiple open-market transactions at weighted average prices generally between about $153 and $173 per share. After these transactions, the officer directly held 642,786 Class A shares and 3,282,116 Class B derivative securities, plus 749,899 Class A shares held indirectly through a remainder trust.

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^*

Sankar Shyam

(Last) (First) (Middle)

C/O PALANTIR TECHNOLOGIES INC.

1200 17TH STREET, FLOOR 15

(Street)

DENVER CO 80202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Palantir Technologies Inc. [ PLTR ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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	11/20/2025		C(1)		149,872	A	(2)	792,658	D
Class A Common Stock	11/20/2025		S(1)		9,259	D	$155.3089(3)	783,399	D
Class A Common Stock	11/20/2025		S(1)		8,900	D	$156.1858(4)	774,499	D
Class A Common Stock	11/20/2025		S(1)		18,631	D	$157.251(5)	755,868	D
Class A Common Stock	11/20/2025		S(1)		18,178	D	$158.1365(6)	737,690	D
Class A Common Stock	11/20/2025		S(1)		8,457	D	$159.0786(7)	729,233	D
Class A Common Stock	11/20/2025		S(1)		7,243	D	$160.1615(8)	721,990	D
Class A Common Stock	11/20/2025		S(1)		5,367	D	$161.1557(9)	716,623	D
Class A Common Stock	11/20/2025		S(1)		1,238	D	$161.8464(10)	715,385	D
Class A Common Stock	11/20/2025		S(1)		4,332	D	$163.3663(11)	711,053	D
Class A Common Stock	11/20/2025		S(1)		2,598	D	$164.0484(12)	708,455	D
Class A Common Stock	11/20/2025		S(1)		2,010	D	$165.945(13)	706,445	D
Class A Common Stock	11/20/2025		S(1)		3,277	D	$166.7259(14)	703,168	D
Class A Common Stock	11/20/2025		S(1)		2,777	D	$167.933(15)	700,391	D
Class A Common Stock	11/20/2025		S(1)		2,275	D	$168.9044(16)	698,116	D
Class A Common Stock	11/20/2025		S(1)		4,304	D	$169.9372(17)	693,812	D
Class A Common Stock	11/20/2025		S(1)		14,065	D	$170.9118(18)	679,747	D
Class A Common Stock	11/20/2025		S(1)		16,512	D	$171.9968(19)	663,235	D
Class A Common Stock	11/20/2025		S(1)		18,720	D	$172.7717(20)	644,515	D
Class A Common Stock	11/20/2025		S(1)		1,729	D	$173.4115(21)	642,786	D
Class A Common Stock	11/21/2025		C(1)		19,004	A	(2)	661,790	D
Class A Common Stock	11/21/2025		S(1)		177	D	$153.4295(22)	661,613	D
Class A Common Stock	11/21/2025		S(1)		18,600	D	$156.2601(23)	643,013	D
Class A Common Stock	11/21/2025		S(1)		227	D	$157.7397(24)	642,786	D
Class A Common Stock								749,899	I	See Footnote(25)

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
Restricted Stock Units	(26)	11/20/2025		M(1)			375,000	(27)	05/20/2026	Class B Common Stock(2)	375,000	$0	750,000	D
Class B Common Stock(2)	(2)	11/20/2025		M(1)		375,000		(2)	(2)	Class A Common Stock	375,000	$0	3,450,992	D
Class B Common Stock(2)	(2)	11/20/2025		C(1)			149,872	(2)	(2)	Class A Common Stock	149,872	$0	3,301,120	D
Class B Common Stock(2)	(2)	11/21/2025		C(1)			19,004	(2)	(2)	Class A Common Stock	19,004	$0	3,282,116	D

Explanation of Responses:

1. This transaction is part of a related series of transactions. The Reporting Person acquired rights to 375,000 shares of Class B Common Stock upon incremental vesting of previously granted restricted stock units ("RSUs") on November 20, 2025, converted 149,872 shares of the Class B Common Stock to Class A Common Stock and immediately sold the resulting shares of Class A Common Stock on November 20, 2025 and then converted 19,004 shares of the Class B Common Stock to Class A Common Stock and immediately sold the resulting shares of Class A Common Stock on November 21, 2025. All sales were automatic sales of shares to cover required tax withholding obligations in connection with the vesting event on November 20, 2025 and were conducted in compliance with the Reporting Person's Rule 10b5-1 trading plan.

2. The Class B Common Stock is convertible into the Issuer's Class A Common Stock on a 1-for-1 basis and has no expiration date.

3. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $154.6592 to $155.6561. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

4. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $155.68 to $156.6791. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

5. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $156.68 to $157.678. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

6. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $157.68 to $158.67. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

7. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $158.68 to $159.674. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

8. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $159.68 to $160.6789. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

9. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $160.68 to $161.6741. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

10. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $161.68 to $162.2098. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

11. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $162.7765 to $163.7758. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

12. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $163.78 to $164.65. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

13. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $165.34 to $166.338. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

14. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $166.34 to $167.31. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

15. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $167.35 to $168.34. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

16. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $168.35 to $169.34. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

17. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $169.35 to $170.34. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

18. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $170.35 to $171.34. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

19. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $171.35 to $172.34. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

20. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $172.35 to $173.345. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

21. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $173.35 to $173.54. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (3) through (21) for sales executed in price ranges on the date indicated. 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.

22. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $153.42 to $153.49. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (22) through (24) for sales executed in price ranges on the date indicated. 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.

23. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $156.71 to $157.70. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (22) through (24) for sales executed in price ranges on the date indicated. 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.

24. This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $157.71 to $157.77. The price reported above reflects the weighted average sale price of trades occurring within that price range. See footnotes (22) through (24) for sales executed in price ranges on the date indicated. 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.

25. These shares are held of record by Shyam Sankar, Co-Trustee of the Sankar Irrevocable Remainder Trust u/a/d 4/20/2020 (the "Remainder Trust"). These shares were not subject to a particular transaction during the dates covered by this Form 4 and are listed here to disclose the Reporting Person's holdings as required by Securities and Exchange Commission rules. The Reporting Person disclaims beneficial ownership of the shares held by the Remainder Trust, except to the extent of his pecuniary interest therein.

26. These securities are RSUs granted pursuant to the Issuer's Amended 2010 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Issuer's Class B Common Stock.

27. The shares acquired from the incremental vesting of RSUs (as described above) were fully vested as of the transaction date.

Remarks:

Officer title: Chief Technology Officer and Executive Vice President. This Form 4 has been compiled based on applicable requirements to reflect the specific transactions described herein and is not intended to disclose or describe all shares and/or other equity securities owned or beneficially held by the Reporting Person. For additional details regarding the Reporting Person's overall stock and equity holdings, please see the Issuer's Proxy Statement filed with the Securities and Exchange Commission on April 25, 2025, including under the heading "Security Ownership Of Certain Beneficial Owners And Management" (subject to the definitions, explanations, and time periods described therein).

	/s/ Justin V. Laubach, under power of attorney	11/24/2025
	** 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

What insider transaction did Palantir (PLTR) report in this Form 4?

The filing reports equity transactions by Palantir's Chief Technology Officer and Executive Vice President, including RSU vesting into Class B common stock, conversions into Class A common stock, and related open-market sales primarily to cover tax withholding obligations.

How many Palantir (PLTR) RSUs vested in this reporting period?

The reporting person acquired rights to 375,000 restricted stock units (RSUs) for Class B common stock through incremental vesting on November 20, 2025, and these RSUs were fully vested as of that transaction date.

What share conversions occurred between Palantir Class B and Class A stock?

On November 20, 2025, the insider converted 149,872 shares of Class B common stock into Class A shares and sold the resulting Class A shares. On November 21, 2025, an additional 19,004 Class B shares were converted into Class A and sold. The filing notes Class B shares are convertible into Class A on a 1-for-1 basis with no expiration date.

At what prices were Palantir (PLTR) shares sold in these Form 4 transactions?

The sales were executed in multiple open-market trades at weighted average prices generally between approximately $153 and $173 per share, with specific line items reporting averages such as $155.3089, $170.9118, and $172.7717. Each weighted average price reflects numerous individual trades within a stated price range.

How many Palantir (PLTR) Class A shares does the insider hold after these transactions?

Following the reported transactions, the officer directly beneficially owned 642,786 shares of Class A common stock. An additional 749,899 Class A shares are held indirectly through the Sankar Irrevocable Remainder Trust, for which the reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.

What derivative or RSU holdings does the Palantir insider report after these trades?

After the RSU vesting and related activity, the insider reported 3,282,116 derivative securities tied to Class B common stock, including RSUs granted under Palantir's Amended 2010 Equity Incentive Plan, where each RSU represents a contingent right to receive one share of Class B common stock.

Were the Palantir (PLTR) insider sales part of a Rule 10b5-1 trading plan?

Yes. The filing states that all sales were automatic sales of shares to cover required tax withholding obligations in connection with the November 20, 2025 vesting event and were conducted in compliance with the reporting person's Rule 10b5-1 trading plan.