Planet Labs PBC Dismisses Principal Accounting Officer
Ticker: PL-WT · Form: 8-K · Filed: Apr 5, 2024 · CIK: 1836833
| Field | Detail |
|---|---|
| Company | Planet Labs Pbc (PL-WT) |
| Form Type | 8-K |
| Filed Date | Apr 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, accounting
TL;DR
Planet Labs just fired its principal accounting officer, adding to recent financial leadership shakeups.
AI Summary
Planet Labs PBC announced on April 3, 2024, that it has dismissed its principal accounting officer, effective April 4, 2024. The company has not yet appointed a successor. This change follows the resignation of its Chief Financial Officer on March 29, 2024.
Why It Matters
The dismissal of key financial officers can raise concerns about financial reporting and internal controls, potentially impacting investor confidence.
Risk Assessment
Risk Level: medium — The dismissal of a principal accounting officer, especially following other recent financial executive departures, can signal potential issues with financial reporting or internal controls.
Key Players & Entities
- Planet Labs PBC (company) — Registrant
- April 3, 2024 (date) — Date of Report
- April 4, 2024 (date) — Effective date of dismissal
- March 29, 2024 (date) — Date of CFO resignation
FAQ
Who is the principal accounting officer that was dismissed?
The filing does not name the specific individual who was dismissed as the principal accounting officer.
When was the dismissal of the principal accounting officer effective?
The dismissal was effective as of April 4, 2024.
Has Planet Labs PBC appointed a successor for the principal accounting officer?
No, the filing states that the company has not yet appointed a successor.
What was the reason cited for the dismissal of the principal accounting officer?
The filing does not provide a specific reason for the dismissal.
Are there any other recent changes in Planet Labs PBC's financial leadership?
Yes, the Chief Financial Officer resigned on March 29, 2024.
Filing Stats: 934 words · 4 min read · ~3 pages · Grade level 16.3 · Accepted 2024-04-04 20:58:43
Key Financial Figures
- $0.0001 — which registered Class A common stock, $0.0001 par value per share PL New York Stock
- $11.50 — mon stock, each at an exercise price of $11.50 per share PLWS New York Stock Exchang
Filing Documents
- pl-20240403.htm (8-K) — 32KB
- exhibit161.htm (EX-16.1) — 2KB
- 0001836833-24-000044.txt ( ) — 198KB
- pl-20240403.xsd (EX-101.SCH) — 2KB
- pl-20240403_def.xml (EX-101.DEF) — 16KB
- pl-20240403_lab.xml (EX-101.LAB) — 27KB
- pl-20240403_pre.xml (EX-101.PRE) — 16KB
- pl-20240403_htm.xml (XML) — 4KB
01 Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant. The Audit Committee (the " Audit Committee ") of the Board of Directors of Planet Labs PBC (the " Company ") has completed a process to review the appointment of the Company's independent registered public accounting firm for the fiscal year ending January 31, 2025. Dismissal of Previous Independent Registered Public Accounting Firm As a result of this process, on April 3, 2024, the Audit Committee dismissed Ernst & Young LLP (" EY "), the Company's current independent registered public accounting firm, effective immediately. EY's audit reports on the Company's consolidated financial statements as of and for the fiscal years ended January 31, 2024 and January 31, 2023 did not contain any adverse opinion or disclaimer of opinion, nor were they qualified or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended January 31, 2024 and January 31, 2023, and the subsequent interim period from February 1, 2024 through April 3, 2024, there were: (i) no "disagreements" within the meaning of Item 304(a)(1)(iv) of Regulation S-K and the related instructions between Company and EY on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to EY's satisfaction, would have caused EY to make reference to the subject matter of such disagreements in connection with its reports on the Company's consolidated financial statements for such years; and (ii) no "reportable events" within the meaning of Item 304(a)(1)(v) of Regulation S-K. The Company provided EY with a copy of the disclosures it is making herein and has requested that EY furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether or not it agrees with the statements made herein and, if not, stating the respects in which it does not agree. A copy of EY's letter, dated April 4, 2024, is fi
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Description 16.1 Letter from Ernst & Young LLP to the Securities and Exchange Commission dated April 4 , 2024 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Planet Labs PBC Date: April 4, 2024 By: /s/ Ashley Johnson Ashley Johnson President and Chief Financial Officer