Planet Labs issues ~11.5M earnout shares as stock hits $15 and $17 thresholds

Planet Labs PBC

Issued 10,286,172 Class A and 1,168,104 Class B shares on Jan 13, 2026, upon earning $15/$17 price tranches.
Total shares outstanding: 306,262,586 Class A and 22,325,690 Class B after issuance.
Sponsor vested 50% of 862,500 earnout shares and 50% of 2,966,667 earnout warrants due to same price conditions.
Remaining earnout tranches at $19 and $21 per share; unvested portions forfeit after 5-year anniversary.
Earnout shares originated from 2021 merger agreement with legacy Planet Labs.

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