secwatch.observer — SEC 8-K summary
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Issuer:     Planet Labs PBC (PL)
CIK:        0001836833
Form:       8-K
Filed at:   2023-04-25T23:59:59+00:00
Accession:  0001836833-23-000026
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Planet Labs adopts program allowing NEOs to receive annual bonus in performance-vesting PSUs
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- Compensation Committee adopted program on April 24, 2023 for named executive officers and certain employees.
- Participants may elect to receive entire annual bonus as PSUs instead of cash under the 2021 Incentive Award Plan.
- PSUs vest based on performance goals; earned payout ranges from 0% to 125% of target.
- Target PSU value equals annual bonus target, based on 30-day average closing price before grant.
- Settlement in Class A common stock occurs at same time cash bonuses would have been paid.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1836833/000183683323000026/0001836833-23-000026-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1836833/000183683323000026/pl-20230424.htm
  HTML page:      https://secwatch.observer/filing/0001836833-23-000026

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer