William Spencer Marshall - 07 Dec 2021 Form 4 Insider Report for dMY Technology Group, Inc. IV (PL)

Signature
/s/ Andrew Kirkpatrick, as Attorney-in-fact for William Marshall
Issuer symbol
PL
Transactions as of
07 Dec 2021
Net transactions value
$0
Form type
4
Filing time
09 Dec 2021, 20:21:51 UTC
Next filing
23 Dec 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PL Earnout - Class A Shares Award +495,591 495,591 07 Dec 2021 Class A Common Stock 495,591 Direct F1, F3
transaction PL Earnout - Class B Shares Award +1,168,105 1,168,105 07 Dec 2021 Class B Common Stock 1,168,105 Direct F1, F2, F4
transaction PL Class B Common Stock Award +10,578,793 10,578,793 07 Dec 2021 Class B Common Stock 10,578,793 Direct F1, F2
transaction PL Stock Option (Right to Buy) Award +2,833,903 2,833,903 07 Dec 2021 Class A Common Stock 2,833,903 $4.04 Direct F5, F6
transaction PL Stock Option (Right to Buy) Award +919,103 919,103 07 Dec 2021 Class A Common Stock 919,103 $9.75 Direct F5, F7
transaction PL Stock Option (Right to Buy) Award +735,282 735,282 07 Dec 2021 Class A Common Stock 735,282 $9.75 Direct F5, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the business combination (the "Business Combination") of dMY Technology Group, Inc. IV and Planet Labs Inc. ("Former Planet"), each share of Class B common stock of Former Planet was converted into the right to receive approximately 1.53184 shares of the issuer's Class B common stock, par value $0.0001 per share ("Class B Common Stock") at the closing of the business combination and 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 combinationto receive cash instead.
F2 Shares of the Class B Common Stock may be converted into shares of Class A Common Stock, on a one-to-one basis, at the option of the holder at any time and have no expiration date.
F3 Includes 495,591 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.
F4 Includes 1,168,105 earnout shares that will vest in four substantially equal installments if the closing price of the issuer's Class B 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.
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 is fully vested and exercisable.
F7 The option vests and becomes exercisable with respect to 1/48th of the underlying Class A Common Stock on July 1, 2021, and in equal monthly installments thereafter.
F8 The option vests and becomes exercisable with respect to 1/48th of the underlying Class A Common Stock on July 1, 2022, and in equal monthly installments thereafter.

Remarks:

Co-Founder and Chief Executive Officer