Planet Labs PBC President Shifts to Advisory Role with Incentives

Planet Labs PBC (PL) has issued an announcement.

Planet Labs PBC has announced that President Kevin Weil will resign and transition to an advisory role starting May 6, 2024. Weil’s advisory agreement promises continued vesting of his equity awards with some adjustments and potential acceleration of vesting upon a change in control of the company. Additionally, Weil will join the board of Planet Labs Federal Inc., with a separate agreement including a $100,000 restricted stock unit award that vests over a year and similar acceleration clauses. These agreements aim to retain Weil’s expertise while providing him incentives aligned with the company’s success.

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