Alexander C. Karp - May 20, 2024 Form 4 Insider Report for Palantir Technologies Inc. (PLTR)

Signature
/s/ Justin V. Laubach, under power of attorney
Stock symbol
PLTR
Transactions as of
May 20, 2024
Transactions value $
-$15,593,826
Form type
4
Date filed
5/22/2024, 08:11 PM
Previous filing
Feb 22, 2024
Next filing
Aug 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PLTR Class A Common Stock Conversion of derivative security +325K +5.05% 6.76M May 20, 2024 Direct F1, F2
transaction PLTR Class A Common Stock Sale -$6.97M -325K -4.81% $21.46 6.43M May 20, 2024 Direct F1, F3
transaction PLTR Class A Common Stock Conversion of derivative security +197K +3.07% 6.63M May 20, 2024 Direct F2, F4
transaction PLTR Class A Common Stock Sale -$4.23M -197K -2.98% $21.43 6.43M May 20, 2024 Direct F4, F5
transaction PLTR Class A Common Stock Conversion of derivative security +163K +2.53% 6.6M May 21, 2024 Direct F2, F4
transaction PLTR Class A Common Stock Sale -$3.46M -163K -2.47% $21.24 6.43M May 21, 2024 Direct F4, F6
transaction PLTR Class A Common Stock Conversion of derivative security +43.4K +0.67% 6.48M May 22, 2024 Direct F2, F4
transaction PLTR Class A Common Stock Sale -$925K -43.4K -0.67% $21.30 6.43M May 22, 2024 Direct F4, F7

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 PLTR Class B Common Stock Conversion of derivative security $0 -325K -0.67% $0.00 48.1M May 20, 2024 Class A Common Stock 325K Direct F1, F2
transaction PLTR Restricted Stock Units Options Exercise $0 -878K -3.45% $0.00 24.6M May 20, 2024 Class B Common Stock 878K Direct F2, F4, F8, F9
transaction PLTR Class B Common Stock Options Exercise $0 +878K +1.82% $0.00 49M May 20, 2024 Class A Common Stock 878K Direct F2, F4
transaction PLTR Restricted Stock Units Options Exercise $0 -97.5K -3.45% $0.00 2.73M May 20, 2024 Class B Common Stock 97.5K Direct F2, F4, F9, F10
transaction PLTR Class B Common Stock Options Exercise $0 +97.5K +0.2% $0.00 49.1M May 20, 2024 Class A Common Stock 97.5K Direct F2, F4
transaction PLTR Class B Common Stock Conversion of derivative security $0 -197K -0.4% $0.00 48.9M May 20, 2024 Class A Common Stock 197K Direct F2, F4
transaction PLTR Class B Common Stock Conversion of derivative security $0 -163K -0.33% $0.00 48.7M May 21, 2024 Class A Common Stock 163K Direct F2, F4
transaction PLTR Class B Common Stock Conversion of derivative security $0 -43.4K -0.09% $0.00 48.7M May 22, 2024 Class A Common Stock 43.4K Direct F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This transaction is part of a related series of transactions. The Reporting Person converted 325,000 shares of Class B Common Stock to Class A Common Stock and immediately sold the shares of Class A Common Stock in the open market pursuant to a preexisting Rule 10b5-1 trading plan intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), entered into (or most recently amended or modified, as applicable) on February 23, 2023, prior to the effectiveness of, but in compliance with, the revised requirements of Rule 10b5-1(c).
F2 The Class B Common Stock is convertible into the Issuer's Class A Common Stock on a 1-for-1 basis and has no expiration date.
F3 This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $21.23 to $21.75. The price reported above reflects the weighted average sale price of trades occurring within that price range. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.
F4 This transaction is part of a related series of transactions. The Reporting Person acquired rights to 975,000 shares of Class B Common Stock upon incremental vesting of previously granted restricted stock units ("RSUs") on May 20, 2024, converted 197,495 shares of the Class B Common Stock to Class A Common Stock and immediately sold the resulting shares of Class A Common Stock on May 20, 2024, converted 163,056 shares of the Class B Common Stock to Class A Common Stock and immediately sold the resulting shares of Class A Common Stock on May 21, 2024 and then converted 43,417 shares of the Class B Common Stock to Class A Common Stock and immediately sold the resulting shares of Class A Common Stock on May 22, 2024. All sales were automatic sales of shares to cover required tax withholding obligations in connection with the vesting event on May 20, 2024 and were conducted in compliance with the Reporting Person's Rule 10b5-1 trading plan.
F5 This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $21.26 to $21.75. The price reported above reflects the weighted average sale price of trades occurring within that price range. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.
F6 This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $21.14 to $21.39. The price reported above reflects the weighted average sale price of trades occurring within that price range. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.
F7 This transaction represents sales executed in multiple open market sales. The sales reflected in this line item were made at prices ranging from $21.17 to $21.41. The price reported above reflects the weighted average sale price of trades occurring within that price range. The Reporting Person undertakes to provide upon request by the staff of the Securities and Exchange Commission, the Issuer, or a security holder of the Issuer, full information regarding the number of shares sold at each separate sale price.
F8 These securities are RSUs granted pursuant to the Issuer's Amended 2010 Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Issuer's Class B Common Stock.
F9 The shares acquired from the incremental vesting of RSUs (as described above) were fully vested as of the transaction date.
F10 These securities are RSUs granted pursuant to the Issuer's 2020 Executive Equity Incentive Plan. Each RSU represents a contingent right to receive one share of the Issuer's Class B Common Stock.

Remarks:

Officer title: Chief Executive Officer. This Form 4 has been compiled based on applicable requirements to reflect the specific transactions described herein and is not intended to disclose or describe all shares and/or other equity securities owned or beneficially held by the Reporting Person. For additional details regarding the Reporting Person's overall stock and equity holdings, please see the Issuer's Proxy Statement filed with the Securities and Exchange Commission on April 26, 2024, including under the heading "Security Ownership Of Certain Beneficial Owners And Management" (subject to the definitions, explanations, and time periods described therein).