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Planet Labs PBC·4

Jan 23, 6:19 PM ET

BASS CARL 4

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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.