4//SEC Filing
BASS CARL 4
Accession 0001836833-26-000021
CIK 0001836833other
Filed
Jan 22, 7:00 PM ET
Accepted
Jan 23, 6:19 PM ET
Size
8.0 KB
Accession
0001836833-26-000021
Research Summary
AI-generated summary of this filing
Planet Labs (PL) Director Carl Bass Exercises Derivative Securities
What Happened
Carl Bass, a director of Planet Labs PBC (PL), reported exercise/conversion of 19,914 derivative securities on January 21, 2026 (transaction code M). The filing shows 19,914 shares acquired and the same 19,914 shares disposed the same day; the reported cash consideration for both legs is $0. This is an exercise/conversion of derivative securities rather than an open‑market buy or straightforward sale.
Key Details
- Transaction date: 2026-01-21; Form 4 filed: 2026-01-23.
- Reported consideration: $0.00 for both the acquisition and disposition of 19,914 shares.
- Shares owned after transaction: not specified in the excerpt provided here — see the full Form 4 for post-transaction beneficial ownership.
- Footnotes of note:
- F1: Reference to 32,468 RSUs that vest on the earlier of first anniversary or next annual meeting; RSUs convert into one share each and have no expiration.
- F2: Issuance of earnout shares due to achievement of a $19.00 stock-price threshold; additional earnout may vest if $21.00 threshold is met or on certain change-of-control conditions before Dec 7, 2026.
- F3: This filing corrects an administrative reporting error in a prior Form 4 (Jan 15, 2026) that mis‑placed the derivative disposition in the wrong column; the prior filing otherwise reported holdings correctly.
- Timeliness: The Form 4 appears to be a corrective filing; transaction reported within days of the trade and the correction addresses a previous reporting column error.
Context
- Code M indicates an exercise or conversion of a derivative security. The same-day acquisition and disposition shown here typically reflects an exercise/conversion followed by an immediate transfer or settlement; the filing reports $0 consideration but does not detail cash flows or whether this was a net/cashless settlement.
- These types of derivative conversions are administrative in nature and do not necessarily signal the insider’s view on the company’s stock; consult the full Form 4 for exact post-transaction holdings and any additional disclosures.
Insider Transaction Report
Form 4
BASS CARL
Director
Transactions
- Exercise/Conversion
Class A Common Stock
[F1]2026-01-21+19,914→ 377,270 total - Exercise/Conversion
Earnout - Class A Shares
[F2][F3]2026-01-21−19,914→ 19,916 total→ Class A Common Stock (19,914 underlying)
Footnotes (3)
- [F1]Includes 32,468 RSUs which fully vest on the earlier of (i) the first anniversary of the grant or (ii) the date of the issuer's next annual meeting of stockholders to occur following the grant. 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 $19.00 stock price threshold. The remaining earnout shares will vest in one final installment if the closing price of the Class A Common Stock equals or exceeds $21.00 over any 20 trading days within any 30 day trading period prior to December 7, 2026, or if the Issuer consummates a change of control transaction prior to December 7, 2026 that entitles its stockholders to receive a per share consideration of at least $21.00.
- [F3]Due to an administrative error, the Form 4 previously filed on January 15, 2026 (the "Previous Form 4"), inadvertently reported the Table II, Column 5 Number of Derivative Securities Disposed in the incorrect Acquired (A) column instead of the correct Disposed (D) column. The previous Form 4 correctly reported the Number of Derivative Securities Beneficially Owned Following Reported Transaction and the other information therein despite this error.
Signature
By: /s/ LeeAnn Linck, Attorney-in-fact for: Carl Bass|2026-01-23
Documents
Issuer
Planet Labs PBC
CIK 0001836833
Entity typeother
Related Parties
1- filerCIK 0001221137
Filing Metadata
- Form type
- 4
- Filed
- Jan 22, 7:00 PM ET
- Accepted
- Jan 23, 6:19 PM ET
- Size
- 8.0 KB