Schingler Robert H 4

What Happened
Robert H. Schingler, co-founder and Chief Strategy Officer (also a director) of Planet Labs PBC (PL), had 32,394 shares of Class A common stock issued to him on March 19, 2026 upon the vesting of performance restricted stock units (PSUs). To satisfy the tax withholding obligation from that vesting, the issuer withheld 16,483 shares (disposed) at $26.96 per share, resulting in proceeds of $444,382. The vested PSUs were received in lieu of a cash bonus for the second half of the fiscal year; Schingler elected to convert that bonus into PSUs at 125% of the earned cash amount.

Key Details

• Transaction date(s): March 19, 2026 (reported on Form 4 filed March 23, 2026). Filing appears timely (filed within two business days).
• Award: 32,394 shares acquired (code A) at $0.00 per share (vesting of PSUs).
• Tax withholding: 16,483 shares withheld/disposed (code F) at $26.96 each, totaling $444,382. No open-market sale by the reporting person (footnote indicates shares were withheld by issuer).
• Shares owned after transaction: not explicitly stated in the provided excerpt.
• Notable footnotes:
  • F1: PSUs were issued in lieu of an H2 cash bonus; converted to PSUs at 125% of the bonus.
  • F2: Withholding shares were retained by the issuer to pay withholding taxes (no open-market sale).
  • F3: Reporting person holds 851,339 RSUs that vest quarterly (15th of Mar/Jun/Sep/Dec); RSUs convert 1-for-1 to Class A shares and have no expiration.

Context
This was a vesting/award transaction (not a purchase or voluntary sale). The tax obligation was handled via share withholding, a common administrative practice that does not necessarily signal any change in insider sentiment. The transaction reflects compensation mechanics (conversion of a cash bonus into PSUs), not an open-market investment decision.