Marshall William Spencer 4
4 · Planet Labs PBC · Filed Mar 23, 2026
Research Summary
AI-generated summary of this filing
Planet Labs CEO Marshall Spencer Receives Award; Tax Withheld
What Happened
Marshall William Spencer, Co‑Founder, CEO and Director of Planet Labs PBC (PL), received 77,744 shares on 2026-03-19 as vested performance restricted stock units (PSUs) (reported as a grant/award). On the same date the issuer withheld 39,572 of those shares to satisfy withholding tax obligations at an effective per‑share amount of $26.96, representing $1,066,861 withheld. The grant itself is reported at $0.00 per share because it reflects the vesting of compensation (not a cash purchase).
Key Details
- Transaction dates: March 19, 2026; Form 4 filed March 23, 2026 (timely).
- Award: 77,744 shares acquired (code A) reported at $0.00.
- Tax withholding: 39,572 shares disposed (code F) at $26.96/share = $1,066,861 withheld; no open‑market sale.
- Shares owned after transaction: not specified in the provided excerpt.
- Footnotes:
- F1: PSUs were received in lieu of the H2 cash bonus; Spencer elected to convert the bonus to PSUs at 125% of the earned cash amount.
- F2: Withheld shares were retained by the issuer to cover withholding taxes (no public sale).
- F3: Disclosure notes Spencer holds 2,222,807 RSUs that vest quarterly (these are separate ongoing RSU awards).
Context
This is a compensation vesting event (PSUs converting to shares) with the company withholding shares for tax purposes — a routine administrative outcome, not an open‑market sale or purchase. Such awards reflect compensation recognition rather than a market bet by the insider; withheld shares to meet tax obligations are common and do not necessarily indicate insider sentiment.
Insider Transaction Report
- Award
Class A Common Stock
[F1]2026-03-19+77,744→ 3,432,298 total - Tax Payment
Class A Common Stock
[F2][F3]2026-03-19$26.96/sh−39,572$1,066,861→ 3,392,726 total
Footnotes (3)
- [F1]Represents shares acquired upon the vesting of performance restricted stock units ("PSUs") that were received in lieu of the Reporting Person's cash bonus earned for the second half of fiscal year ending January 31, 2026 ("H2") under the Issuer's Amended & Restated Annual Cash Incentive Plan. The Reporting Person elected to convert such cash bonus into PSUs representing 125% of the earned cash bonus amount for H2.
- [F2]No shares were sold by the reporting person. This transaction represents shares of issuer's Class A Common Stock withheld by the issuer in payment of the withholding tax liability incurred upon the vesting of PSUs.
- [F3]Includes 2,222,807 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.