Planet Labs co-founder sells $1.8 million in shares amid expansion

Planet Labs PBC co-founder and Chief Strategy Officer Robert H. Schingler sold approximately 106,000 shares in mid-September 2026, a transaction valued at roughly $1.8 million. According to SEC filings, the sale included 54,117 shares withheld to satisfy tax liabilities from restricted stock unit vesting and 52,240 shares sold via a pre-established Rule 10b5-1 trading plan.

Despite the insider sale, Planet Labs shares recently saw a 5.8% increase. The company has reported several positive developments, including the launch of Amazon.ia, a multi-partner initiative using satellite data and artificial intelligence to monitor biodiversity in the Amazon. This project is supported by the Bezos Earth Fund. Additionally, the company is expanding its satellite manufacturing capacity through a new facility in Berlin to meet growing European demand. Analysts have noted a significant backlog of approximately $815 million for the company.