Marshall William Spencer 4

What Happened Marshall William Spencer, Co‑Founder, CEO and Director of Planet Labs PBC (PL), sold 200,000 shares on April 6, 2026 in an open‑market sale (reported as “S”) for a weighted average price of $35.07 per share, total proceeds of approximately $7,014,520. The sale was executed under a Rule 10b5‑1 trading plan adopted July 12, 2025.

Key Details

• Transaction date: 2026-04-06; Form 4 filed: 2026-04-08 (filed within the required 2 business days).
• Price: weighted average $35.07; individual trade prices ranged $34.25–$36.14 (multiple trades).
• Shares sold: 200,000; gross proceeds ≈ $7,014,520.
• Shares owned after transaction: filing summary provided does not state total post‑sale holdings in the data you supplied. The filing notes 2,222,807 RSUs that vest quarterly (Mar/Jun/Sep/Dec 15) and convert 1:1 to Class A common stock with no expiration.
• Footnotes: F1 = sale executed under a 10b5‑1 plan (adopted 7/12/2025). F2 = multiple trades/wtd avg price; reporting person will provide per‑price breakdown on request. F3 = description of RSU holdings/vesting schedule.

Context This was a planned sale under a prearranged 10b5‑1 plan, which is commonly used by insiders to execute trades on a schedule and is typically considered routine rather than a real‑time signal of management sentiment. The filing appears timely. No options were exercised and no gifts or tax‑withholding stock transfers were reported in the transaction details provided.