Marshall William Spencer, co-founder and CEO of PL (Planet Labs PBC), has demonstrated a consistent pattern of selling activity in the company’s stock, with no recorded purchases across 24 transactions. Since March 2025, Spencer has executed multiple sales totaling $21.47 million, with the largest single transaction occurring on December 26, 2025, when he sold shares worth $3.87 million. Recent filings show continued divestment, including a $3.03 million sale on March 15, 2026, followed by another $1.07 million transaction on March 19, 2026. The transactions are primarily coded as "F" (dispositions under Rule 16b-3), with occasional "S" (open market sales) and "A" (awards or grants with no monetary value).
Spencer’s selling activity has been concentrated in PL, the only company in which he has reported trades. The pace of disposals has remained steady, with notable sales in January 2026 ($3.05 million and $1.66 million) and February 2026 ($1.51 million). While some filings reflect stock awards (coded "M" and "G"), these do not involve monetary transactions. The absence of any buy transactions suggests a one-sided disposition trend, though the reasons—whether personal financial planning, diversification, or other considerations—are not disclosed in the filings. The data reflects a clear and sustained reduction in Spencer’s PL holdings over the past year.
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