Form 4 for PL Planet Labs PBC
Accepted 2021-12-09 00:00:00 ET · period of report 2021-12-07 · accession 0000899243-21-047639 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2021-12-09 | 2021-12-07 | PL | Weil Kevin | Pres, Product, Business | A - Grant | — | +1.07M | 1.07M | New | — |
| DM | 2021-12-09 | 2021-12-07 | PL | Weil Kevin | Pres, Product, Business | A - Grant | — | +1.99M | 1.69M | New | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Class A Common Stock | 2021-12-07 | A | A | 1,072,287 | — | 1,072,287 | D | — | — | (F2) Includes 1,072,287 restricted stock units ("RSUs"), each of which represent a contingent right to receive one share of issuer's Class A Common Stock. The RSUs will vest with respect to 25% of the RSUs on June 15, 2022 and in equal quarterly installments thereafter. The RSUs have no expiration date. (F1) Pursuant to the business combination (the "Business Combination") of dMY Technology Group, Inc. IV and Planet Labs Inc. ("Former Planet"), each share of Former Planet capital stock (other than Class B common stock of Former Planet) was converted into the right to receive approximately 1.53184 shares (the "Exchange Ratio") of the issuer's Class A common stock, par value $0.0001 per share ("Class A Common Stock") at the closing of the business combination. (F3) Includes 1,072,287 RSUs. |
| 2 | Derivative | Earnout - Class A Shares | 2021-12-07 | A | A | 304,460 | — | 304,460 | D | — · — to — | 304,460 Class A Common Stock | (F1) Pursuant to the business combination (the "Business Combination") of dMY Technology Group, Inc. IV and Planet Labs Inc. ("Former Planet"), each share of Former Planet capital stock (other than Class B common stock of Former Planet) was converted into the right to receive approximately 1.53184 shares (the "Exchange Ratio") of the issuer's Class A common stock, par value $0.0001 per share ("Class A Common Stock") at the closing of the business combination. (F4) Includes 304,460 earnout shares that will vest in four substantially equal installments if the closing price of the issuer's Class A Common Stock equals or exceeds $15.00, $17.00, $19.00 and $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 $15.00, $17.00, $19.00 and $21.00. Issuable only if the holder continues to provide services to the issuer or its subsidiaries through the date on which the earnout shares are issued. |
| 3 | Derivative | Stock Option (Right to Buy) | 2021-12-07 | A | A | 1,685,023 | — | 1,685,023 | D | $9.75 · — to 2031-06-29 | 1,685,023 Class A Common Stock | (F5) At the closing of the Business Combination, each outstanding option to purchase Former Planet capital stock was converted into a right to receive a number of options to purchase Class A Common Stock based on the Exchange Ratio. (F6) The option vests and becomes exercisable with respect to 25% of the underlying Class A Common shares on April 5, 2022 and in equal monthly installments thereafter. |