SCHEDULE: Draper Fisher Jurvetson Funds Update Planet Labs PBC Ownership Stake

Draper Fisher Jurvetson and affiliated entities, including key individuals, have updated their beneficial ownership in Planet Labs PBC, collectively holding 2.0% of Class A Common Stock as of June 30, 2025, with potential for additional shares based on future stock performance.

Summary

• Draper Fisher Jurvetson Fund X, L.P. and its general partners, Draper Fisher Jurvetson Fund X Partners, L.P. and DFJ Fund X, Ltd., each beneficially own 3,721,848 shares of Planet Labs PBC Class A Common Stock, representing 1.3% of the class.
• Draper Fisher Jurvetson Partners X, LLC, a side-by-side fund, beneficially owns 113,716 shares, or 0.04% of the class.
• Draper Associates Riskmasters Fund II, LLC holds 940,235 shares, accounting for 0.3% of the class.
• Draper Associates Riskmasters Fund III, LLC holds 761,659 shares, also accounting for 0.3% of the class.
• Timothy C. Draper, a managing member across several entities, beneficially owns an aggregate of 5,537,458 shares, representing 2.0% of the Class A Common Stock, with both sole and shared voting/dispositive power.
• John H. N. Fisher beneficially owns 3,835,564 shares, representing 1.4% of the Class A Common Stock, with shared voting and dispositive power.
• Andreas Stavropoulos, Joshua Stein, and Donald F. Wood each beneficially own 3,721,848 shares, representing 1.3% of the Class A Common Stock, with shared voting and dispositive power.
• The percentages are calculated based on 282,273,344 shares of Class A Common Stock reported outstanding by Planet Labs PBC as of June 2, 2025.
• The reported beneficial ownership does not include up to 2,592,041 additional shares of Class A Common Stock that may be issued as contingent consideration from a prior business combination.
• These contingent shares are subject to the Issuer's Class A Common Stock closing price reaching $15.00, $17.00, $19.00, and $21.00 over any 20 trading days within a 30-day period, or a change of control transaction, all prior to December 7, 2026.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership and does not contain qualitative statements or performance results that would indicate a positive or negative sentiment. It is a neutral regulatory update.

Risks

• Potential future dilution from the issuance of up to 2,592,041 additional Class A Common Stock shares as contingent consideration if specific stock price thresholds ($15.00, $17.00, $19.00, $21.00) are met or a change of control occurs by December 7, 2026.

Future Outlook

The filing indicates a future potential for additional Class A Common Stock to be issued as contingent consideration if Planet Labs PBC's stock price reaches specified thresholds ($15.00, $17.00, $19.00, $21.00) or if a change of control transaction occurs, all by December 7, 2026.

Industry Context

This Schedule 13G filing is a routine disclosure of significant ownership by institutional investors and their principals, common in the public markets. It reflects the ongoing investment positions of venture capital funds and their managing members in a publicly traded company, Planet Labs PBC, which operates in the Earth observation and geospatial data industry.

Related Party Transactions

• Draper Fisher Jurvetson Fund X Partners, L.P. is the general partner of Draper Fisher Jurvetson Fund X, L.P.
• DFJ Fund X, Ltd. is the general partner to Draper Fisher Jurvetson Fund X Partners, L.P.
• Draper Fisher Jurvetson Partners X, LLC is a side-by-side fund of Draper Fisher Jurvetson Fund X, L.P.
• Timothy C. Draper and John H.N. Fisher are managing members of Draper Fisher Jurvetson Partners X, LLC and managing directors of Draper Fisher Jurvetson Fund X, L.P.
• Timothy C. Draper is the managing member of Draper Associates Riskmasters Fund II, LLC and Draper Associates Riskmasters Fund III, LLC.
• Timothy C. Draper, John H.N. Fisher, Andreas Stavropoulos, Joshua Stein, and Donald F. Wood are directors of DFJ Fund X, Ltd. and exercise shared voting and investment power over shares held by Draper Fisher Jurvetson Fund X, L.P.

Stakeholder Impact

• Shareholders: The disclosure provides transparency on significant institutional and individual ownership stakes. The potential future issuance of contingent shares could lead to dilution for existing shareholders if the stock price targets are met or a change of control occurs.

Next Steps

• Monitoring of Planet Labs PBC's Class A Common Stock price performance relative to the $15.00, $17.00, $19.00, and $21.00 thresholds for potential contingent share issuance.
• Observation of any potential change of control transactions involving Planet Labs PBC prior to December 7, 2026.

Key Dates

Keywords

Planet Labs PBC, PL, Draper Fisher Jurvetson, Beneficial Ownership, SEC Filing, Schedule 13G, Class A Common Stock, Contingent Consideration, Venture Capital, Investment Fund