Marshall William Spencer 4
4 · Planet Labs PBC · Filed Feb 5, 2026
Research Summary
AI-generated summary of this filing
Planet Labs (PL) CEO Marshall Spencer Exercises Options, Sells 63,041 Shares
What Happened
Marshall William Spencer, Co‑Founder, CEO and Director of Planet Labs (PL), exercised/converted derivative awards on February 3, 2026 and used 63,041 shares to satisfy tax withholding. The withheld shares were disposed at $23.95 each, generating $1,509,832. The filing shows multiple exercise/conversion entries (zero exercise price) totaling 415,927 shares acquired through derivative conversion.
Key Details
- Transaction date: 2026-02-03. Withholding sale price: $23.95 per share. Proceeds from withheld shares: $1,509,832.
- Derivative activity: multiple "M" (exercise/conversion) entries at $0.00 exercise price (totaling 415,927 shares acquired by conversion).
- Tax withholding: "F" code — 63,041 shares disposed to pay tax liability.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Footnotes of note: F1 — large RSU pool vests quarterly; F2 — issuance of earnout shares after $21.00 price threshold; F3 — Class B shares convertible to Class A on a 1:1 basis.
- Filing timeliness: no late filing indication provided in the excerpt.
Context
This appears to be a routine cashless-style exercise/conversion where derivative/award shares were converted and a portion (63,041 shares) was surrendered/sold to cover taxes — common for option/RSU settlements and not necessarily a directional market signal. The filing also references earnout and RSU mechanics (F1/F2) and Class B→A conversion rights (F3), which help explain the zero-dollar exercise entries.
Insider Transaction Report
- Exercise/Conversion
Class A Common Stock
2026-02-03+123,900→ 3,146,520 total - Tax Payment
Class A Common Stock
[F1]2026-02-03$23.95/sh−63,041$1,509,832→ 3,083,479 total - Exercise/Conversion
Earnout - Class A Shares
[F2]2026-02-03−123,900→ 0 total→ Class A Common Stock (123,900 underlying) - Exercise/Conversion
Earnout - Class B Shares
[F2]2026-02-03−292,027→ 0 total→ Class B Common Stock (292,027 underlying) - Exercise/Conversion
Class B Common Stock
[F3]2026-02-03+292,027→ 11,746,898 total→ Class A Common Stock (292,027 underlying)
Footnotes (3)
- [F1]Includes 2,069,641 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.
- [F2]Represents the issuance of earnout shares as a result of the achievement of the $21.00 stock price threshold.
- [F3]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.