Planet Labs PBC
Issuance of Earnout Shares and Vesting of Sponsor Earnout Securities
Summary
On January 21, 2026, Planet Labs PBC issued 5,133,294 shares of Class A Common Stock and 584,052 shares of Class B Common Stock as earnout shares due to the Class A Common Stock price meeting certain thresholds. Additionally, 75% of the Sponsor Earnout Shares and Sponsor Earnout Warrants vested as the Class A Common Stock price also met specified levels. These events are part of the terms outlined in the Merger Agreement and Lockup Agreement, respectively.
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About Planet Labs PBC
Planet Labs PBC is a leading Earth imaging and data analytics company specializing in capturing and providing frequent, high-resolution satellite imagery of the Earth. Its primary function is to operate fleets of small, specialized satellites—often called "Doves"—that capture detailed images of Earth's surface daily. This vast constellation of satellites enables Planet Labs to provide valuable insights and data across various sectors, including agriculture, forestry, urban planning, and environmental monitoring. Through its continuous data acquisition capabilities, Planet Labs empowers businesses, governments, and researchers with critical information needed for timely decision-making and strategic planning. The company plays a significant role in enhancing the understanding of global environmental changes, supporting disaster response efforts, and optimizing land use planning. Established in 2010 and headquartered in San Francisco, Planet Labs is at the forefront of revolutionizing how data from space is used to inform decisions on Earth, establishing a new paradigm in satellite data accessibility and utilization. Its contributions span across numerous industries, making it a pivotal player in the space and geospatial information markets.
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