Planet Labs Co-Founder Sells Shares in $1.8 Million Transaction
Robert H. Schingler, co-founder and Chief Strategy Officer of Planet Labs PBC (PL), sold approximately 106,000 shares for around $1.8 million on September 15 and 17, 2026, as disclosed in an SEC Form 4 filing. The transaction included both direct sales to cover tax obligations from vested restricted stock units (RSUs) and indirect sales through a pre-established Rule 10b5-1 trading plan. Following the sale, Schingler retained approximately 889,000 shares in total, including unvested RSUs. The company's share price closed at $16.99 on September 17, with Planet Labs having delivered a 66% return over the past year. Analysts suggest that these transactions are routine and not indicative of insider concern. Planet Labs operates one of the largest satellite constellations globally, providing geospatial data to institutional clients across various industries such as agriculture, urban planning, and disaster response.
Tickers: $PL
Topics: restricted stock units (RSUs) Rule 10b5-1 trading plan stock transactions