DEF 14A of Palantir Technologies Inc., Apr 24, 2026

DEF 14A of Palantir Technologies Inc.

Filed Apr 24, 2026 · FY20250001321655-26-000019

Open on EDGAR

  1. Nominees for Director

    Nominees for Director Alexander Karp. Mr. Karp is one of our co-founders and has served in various positions with us since co-founding Palantir. He has served as our Chief Executive Officer (“CEO”) since 2005, and has served as a member of our Board of Directors since 2003. Mr. Karp has been selected to serve on our Board of Directors because of the perspective and experience he brings as our CEO and as one of our co-founders. Stephen Cohen. Mr. Cohen is one of our co-founders and has served in various positions with us since co-founding Palantir, most recently as our President and Secretary, and as a member of our Board of Directors since 2005. Mr. Cohen holds a B.S. in Computer Science from Stanford University. Mr. Cohen has been selected to serve on our Board of Directors because of the perspective and experience he brings as an officer and as one of our co-founders. Peter Thiel. Mr. Thiel is one of our co-founders and has served as the Chairman of our Board of Directors since 2003. He has served as president of Thiel Capital, an investment firm, since 2011 and as a partner of Founders Fund, a venture capital firm, since 2005. In 1998, Mr. Thiel co-founded PayPal, Inc., an online payment company, where he served as Chief Executive Officer, President, and Chairman of its Board of Directors from 2000 until its acquisition by eBay in 2002. Mr. Thiel previously served on the board of directors of Meta Platforms, Inc., a technology company, from 2005 to 2022 and on the board of directors of AbCellera Biologics Inc., a biotechnology company, from 2020 to 2024. Mr. Thiel holds a B.A. in Philosophy from Stanford University and a J.D. from Stanford Law School. Mr. Thiel has been selected to serve on our Board of Directors due to his leadership and experience as an entrepreneur and venture capitalist and as one of our co-founders. Alexander Moore. Mr. Moore has served as a member of our Board of Directors since July 2020. Mr. Moore initially joined us in February 2005 as one of the founding employees and served as our director of operations until March 2010. In February 2013, Mr. Moore co-founded NodePrime, a cloud automation company, where he served as Chief Operating Officer until its acquisition by Ericsson in April 2016. In May 2017, he joined 8VC, a venture capital fund, where he currently serves as partner. Mr. Moore holds a B.A. in Economics from Stanford University. Mr. Moore has been selected to serve on our Board of Directors due to the perspective and experience he brings as an entrepreneur and venture capitalist and as one of our founding employees. Alexandra Schiff. Ms. Schiff has served as a member of our Board of Directors since July 2020. Ms. Schiff worked as a reporter for The Wall Street Journal from June 2004 to March 2005 and April 2013 to June 2020. From 2006 to 2009, she served as a staff writer and then contributing editor at Condé Nast Portfolio, a magazine that was formerly part of Condé Nast, a global media company. She has written for publications including The New York Times, Vanity Fair, and Bloomberg Businessweek. She is currently working on her second book for Simon & Schuster. Ms. Schiff holds a B.A. in English from Duke University. Ms. Schiff has been selected to serve on our Board of Directors due to her business acumen and the unique perspectives she brings as a journalist. Lauren Friedman Stat. Ms. Stat has served as a member of our Board of Directors since January 2021. Ms. Stat brings a wide range of business and leadership experience, with over two decades of experience in healthcare and technology. Ms. Stat was a senior advisor to Fortune 100 companies during her 15 years of experience at Accenture, from October 2005 to January 2021. Ms. Stat has served as an advisor, through her consulting firm, and on the board of directors of, health and software technology companies, as well as a non-profit healthcare organization. Ms. Stat served as Fractional Chief Administration Officer at Friendly Force, a satellite communications technology company, from December 2021 to December 2022, and an advisor until December 2024. She also served as an Executive in Residence for Notley, a social impact community and venture organization, from June 2021 to June 2022. Ms. Stat has served as Managing Member and Chief Executive Officer of Figa Jewelry, a 3D printed jewelry company, since July 2022. She holds a B.S. in Science, Technology, and Society with a dual concentration in Math and Chemistry from Stanford University. Ms. Stat has been selected to serve on our Board of Directors due to her wide range of business and leadership experience, including leadership of sales pursuits, management of global operations, and responsibility for the growth and profitability of a segment of business. Eric Woersching. Mr. Woersching has served as a member of our Board of Directors since June 2022. Mr. Woersching currently serves as co-founder and Managing Partner of Massive Tech Ventures, an investment firm, and as a private consultant for early stage software companies, where he focuses on corporate strategy, FP&A, analytics, operations and executive recruiting. From 2020 to 2022, Mr. Woersching served as the Vice President of Revenue Operations at EasyPost, where he was responsible for analytics, operations and corporate strategy, and Senior Advisor to the CEO, where he focused on corporate development, M&A and fundraising. From 2017 to 2019, Mr. Woersching was a general partner at Initialized Capital, a venture capital firm, where he served on the board of directors of several private technology companies. Mr. Woersching has served on the board of directors of Blend Labs, Inc., a platform for digital origination, since June 2024. He holds both a B.S. and M.S. in Electrical Engineering from Stanford University and is a Chartered Financial Analyst. Mr. Woersching has been selected to serve on our Board of Directors due to his financial expertise and his experience as a venture capitalist, his experience as a director of private technology companies, and his operational experience at multiple technology companies.

  2. Considerations in Evaluating Director Nominees

    Considerations in Evaluating Director Nominees The Compensation, Nominating & Governance Committee uses a variety of methods for identifying and evaluating potential director nominees. The Compensation, Nominating & Governance Committee requires certain minimum qualifications to be satisfied by any nominee for a position on our Board of Directors, including but not limited to the highest personal and professional ethics and integrity and proven achievement and competence in the nominee’s field and the ability to exercise sound business judgment. In its evaluation of director candidates, including the current directors eligible for re-election, our Compensation, Nominating & Governance Committee will consider the current size and composition of our Board of Directors and the needs of our Board of Directors and the respective committees of our Board of Directors and other director qualifications. In addition, the Compensation, Nominating & Governance Committee considers the following qualifications in assessing director nominees including, without limitation, issues of character, integrity, judgment, corporate experience, diversity of experience, background, independence, area of expertise, length of service, potential conflicts of interest, other commitments and the like, including as required by applicable laws, rules, and regulations. If our Compensation, Nominating & Governance Committee determines that an additional or replacement director is required, then the committee may take such measures as it considers appropriate in connection with its evaluation of a director candidate, including candidate interviews, inquiry of the person or persons making the recommendation or nomination, engagement of an outside search firm to gather additional information, or reliance on the knowledge of the members of the Compensation, Nominating & Governance Committee, Board of Directors, or management. After completing its review and evaluation of director candidates, our Compensation, Nominating & Governance Committee recommends to our full Board of Directors the director nominees for selection. Our Compensation, Nominating & Governance Committee has discretion to decide which individuals to recommend for nomination as directors and our Board of Directors has the final authority in determining the selection of director candidates for nomination to our Board of Directors.

  3. Director Compensation

    Director Compensation Pursuant to our Outside Director Compensation Policy, in effect during fiscal year 2025, each non-employee director (or “outside director”) other than Mr. Thiel (each, a “Non-Founder Outside Director”) receives compensation for his or her service consisting of cash retainers and equity awards. Mr. Thiel does not receive compensation or benefits under the Outside Director Compensation Policy, other than potential reimbursement of expenses as described below. Our Board of Directors may amend, alter, suspend, or terminate the Outside Director Compensation Policy at any time and for any reason, provided that no such amendment, alteration, suspension, or termination will materially impair the rights of an outside director with respect to compensation that already has been paid or awarded, unless otherwise mutually agreed in writing between the outside director and us. The Outside Director Compensation Policy will be administered by our Board of Directors or a designated committee of our Board of Directors.

  4. Equity Compensation

    | Name | Fees Earned or Paid in Cash ($) | Stock Awards ($)(1) | Total ($) | | Peter Thiel(2) | — | — | — | | Alexander Moore(3) | 65,000 | 299,887 | 364,887 | | Alexandra Schiff(3) | 52,500 | 299,887 | 352,387 | | Lauren Friedman Stat(3) | 52,500 | 299,887 | 352,387 | | Eric Woersching(3) | 65,000 | 299,887 | 364,887 |

  5. ELECTION OF DIRECTORS

    ELECTION OF DIRECTORS Our Board of Directors currently consists of seven directors. At the annual meeting, seven directors will be elected for a one-year term and until their respective successors are duly elected and qualified or until their earlier death, resignation, or removal.

  6. Executive Summary

    Executive Summary Our fiscal year 2025 financial results showed year-over-year growth, including year-over-year revenue growth of 56% and another year of positive GAAP net income and GAAP income from operations in each quarter. We look forward to carrying our momentum and profitability into 2026 and beyond. We believe that our executive compensation program should directly support our business strategy and continue to help drive our success and retention of our NEOs, with a structure designed to attract and retain our leadership team in the highly competitive technology talent market while also motivating our executives and aligning their interests with those of our stockholders. Given the highly competitive market, we recognize that in order to attract and retain our leadership team, we must continue to assess, refresh and refine our long-term executive compensation strategy. In 2020, our Board of Directors or its committees designed award packages for all of our NEOs for navigating Palantir through the listing process and leading a public company, and in order to incentivize and retain them through the direct listing process, the critical early days as a public company, and through the following several years. We believed, and continue to believe, these outstanding awards effectively served as a primary supporter of alignment between NEO incentives, our business objectives, and the interests of our stockholders for several years, while understanding that new equity grants to certain of our NEOs needed to be considered beginning in 2024 and beyond given the full vesting of these prior awards. During 2024 and into 2025, our Compensation, Nominating & Governance Committee, working with its independent compensation consultant, Semler Brossy, and management, considered potential designs for, and determined that it was appropriate to transition to, a longer-term executive compensation program to continue this alignment into the future. In an effort to retain and incentivize Messrs. Glazer and Taylor, each of whom had fully vested in their awards granted in 2024, during 2025 our Compensation, Nominating & Governance Committee, after consultation with Semler Brossy, granted each of Messrs. Glazer and Taylor RSUs and stock appreciation rights (“SARs”) as discussed in more detail below.

  7. Compensation Philosophy

    Compensation Philosophy Our executive compensation philosophy is shaped by a strong belief that competitiveness of pay opportunities alongside a long-term, performance-based pay orientation drives our success and returns for our stockholders. The objective of our executive compensation program is to attract, retain, and incentivize the most talented personnel who embody our mission and values, increase the competitiveness of our overall compensation program relative to other companies we compete with for such personnel, and incentivize them to work diligently to further our growth and profitability. We do this by designing programs that link executive compensation to overall company performance and the interests of our stockholders. As our business needs evolve and retention considerations change, we intend to continually evaluate our compensation programs, and we intend to review executive compensation in light of Palantir’s performance, macroeconomic and sector-specific developments, technology company pay practices, and other trends that may impact executive compensation. We will undertake future evaluations with the support of and input from outside executive compensation consultants and other relevant experts. Our compensation philosophy is centered around the following principles: •Competitiveness: we embrace the different facets of competitiveness—our employees are competitive in that they strive for excellence and measure themselves against goals and metrics of success. In order to retain this caliber of talent, we must provide competitive pay opportunities in a highly competitive talent market in the software and data analytics space. •Long-term alignment: our main priority is the sustainable creation of long-term value for our stockholders and the retention of our top executives. Our executive compensation program is designed to retain our executives through equity awards that vest over an extended time period and/or contain share holding requirements or transfer restrictions. To further these principles, we adhere to the following corporate governance and compensation principles: •Constitute our Compensation, Nominating & Governance Committee solely with independent directors; •Provide a significant portion of compensation opportunities for NEOs in the form of equity awards that align the rewards to our NEOs with the interests of our stockholders; •Review the alignment between pay practices and our performance; •Engage an independent compensation advisor, who provides no other services to Palantir; and •Encourage executives to trade through 10b5-1 plans.

  8. Role of the Compensation Consultant

    Role of the Compensation Consultant The Compensation, Nominating & Governance Committee has the authority to engage its own advisors to assist in carrying out its responsibilities. Semler Brossy was originally engaged by the Board of Directors and its legacy committees in the spring of 2019. Throughout 2025, Semler Brossy supported the Compensation, Nominating & Governance Committee by providing guidance regarding the amount and types of compensation and structures of compensation programs and awards that we provide to our executives, input on how our compensation practices compare to the compensation practices of other similarly situated high-growth technology companies, and advice on other compensation-related matters. Currently, Semler Brossy reports directly to the Compensation, Nominating & Governance Committee, although Semler Brossy may meet with members of management for the purposes of gathering information and providing input on proposals that management may make to the Compensation, Nominating & Governance Committee. Semler Brossy is independent and its work does not raise any conflict of interest, in each case under applicable guidelines, and it does not provide any services to us other than the services provided to the Compensation, Nominating & Governance Committee.

  9. Use of Comparative Market Data and Compensation Peer Group

    Use of Comparative Market Data and Compensation Peer Group In January 2023, our Compensation, Nominating & Governance Committee approved an executive compensation peer group developed with the assistance of Semler Brossy for anticipated use in connection with the Committee’s assessment of NEO compensation. Semler Brossy undertook a detailed review of the pool of U.S.-based publicly traded companies, taking into consideration direct relevance based on revenue, market capitalization, business fit, and drawing from similar talent pools. In light of such extensive review and Semler Brossy’s recommendations, our Compensation, Nominating & Governance Committee believed that this peer group established in 2023 remained an appropriate group for executive compensation assessment based on business context and market size. In 2024, our executive compensation peer group was adjusted only to remove companies that were acquired, leaving an executive compensation peer group consisting of 18 publicly traded technology companies. We maintained this executive compensation peer group for 2025. The companies comprising the compensation peer group were as follows:

  10. Use of Comparative Market Data and Compensation Peer Group

    | Palo Alto Networks, Inc. | Okta, Inc. | | Autodesk, Inc. | Paycom Software Inc. | | Cloudflare, Inc. | Snowflake Inc. | | CrowdStrike Holdings, Inc. | The Trade Desk, Inc. | | Datadog, Inc. | Twilio Inc. | | DocuSign, Inc. | UiPath Inc. | | Fortinet, Inc. | Unity Software Inc. | | HubSpot, Inc. | Workday, Inc. | | MongoDB, Inc. | Zscaler, Inc. |

  11. Use of Comparative Market Data and Compensation Peer Group

    Data from this compensation peer group was considered by our Compensation, Nominating & Governance Committee as one reference point in determining the appropriateness of the RSU awards and SARs granted to Messrs. Glazer and Taylor during 2025. Except for these awards, no equity incentive grants were made to NEOs in 2025 and no changes were made to 2025 NEO base salaries. We believe that review of peer group data is one meaningful market reference for NEO pay levels and incentive design practices, which can potentially be useful to our Compensation, Nominating & Governance Committee in considering compensation in light of the competition for talent among our peers as we move forward as a public company. However, we recognize that peer group data is necessarily an imperfect tool for determining compensation, and that our business circumstances, strategy and performance, talent retention needs, and short and long-term incentive strategies differ from those of our peers and may result in compensation program designs that are quite different from that of our peers. As a result, while in the future we expect to consider peer group data as an input, our Compensation, Nominating & Governance Committee does not believe that it is appropriate to make compensation decisions, whether regarding base salaries or short-term or long-term incentive compensation, based upon benchmarking to a peer or other representative group of companies.

  12. Base Salary and Bonuses

    Base Salary and Bonuses As part of our compensation packages, we provide a base salary to our NEOs. Consistent with our historical practice, a portion of each NEO’s base salary is paid in bi-monthly installments and a portion in either bi-monthly or quarterly installments as an additional stipend. With respect to Mr. Karp, approximately 72.6% of his total base salary is in the form of a travel stipend, which is paid to him in quarterly installments. We did not provide any bonuses to our NEOs related to their 2025 service. Cash compensation has not been, nor have we intended it to be, the most significant form of compensation for our NEOs. Descriptions of additional compensatory arrangements and values are described in further detail in the Fiscal 2025 Summary Compensation Table.

  13. Equity Compensation

    Equity Compensation For NEOs other than Messrs. Glazer and Taylor, we believe the outstanding equity awards held by our NEOs continued to support the retention of our NEOs and fostered their alignment with our stockholders during 2025, and as such, no new equity incentive grants were made to our other NEOs in 2025. In an effort to retain and incentivize Messrs. Glazer and Taylor, each a critical NEO, and to reward them for their continued performance, our Compensation, Nominating & Governance Committee determined that it was appropriate to grant Messrs. Glazer and Taylor longer term awards of RSUs and SARs as discussed in more detail below. Our Compensation, Nominating & Governance Committee worked closely with its compensation consultant Semler Brossy in 2025 to assess the appropriate compensation structure and sizing for each of Messrs. Glazer and Taylor in connection with their roles as CFO and Treasurer, and CRO and CLO, respectively, taking into account previous individual equity grants made to them which had fully vested at the time of the Compensation, Nominating & Governance Committee’s consideration and approval of the new grants described below. Messrs. Glazer and Taylor are key members of our executive team and we were concerned that having them hold no unvested equity potentially jeopardized our ability to retain them and keep them appropriately motivated. In 2025, we transitioned to a longer-term compensation program to provide ongoing incentives for Messrs. Glazer’s and Taylor’s continued high performance. In contemplating the appropriate design for Messrs. Glazer’s and Taylor’s awards, our Compensation, Nominating & Governance Committee worked with Semler Brossy to consider, among other things, the Company’s retention goals, the need to retain alignment of Messrs. Glazer’s and Taylor’s incentives with those of our stockholders, the desire to calibrate awards with their multifaceted roles, and their expected future performance and contributions in their respective roles. As the first part of this transition, each of Messrs. Glazer and Taylor was granted an RSU award on February 20, 2025, covering 232,898 shares of our Class A common stock for each award. The RSUs are structured to vest as to 1/6th of the RSUs on the grant date, and the remainder ratably over the next 5 quarters, subject to each executive’s continued service. Each executive is restricted from selling or otherwise transferring the vested shares for 12 months following their applicable vesting dates (other than shares sold to cover tax withholdings and related fees). The timeframe of the vesting of the RSUs helps provide alignment with the grant timing among our other NEOs, who are nearing the completion of their prior equity awards. In addition, and in keeping with the intent to provide long-term stock price growth and retention incentives, on April 22, 2025, each of Messrs. Glazer and Taylor were granted SARs with up to 323,334 shares of our Class A common stock subject to each such award, and with a per share exercise price of $150 per share, which price was significantly higher than our stock price on the awards’ grant date. These SARs will be exercisable, if at all, during a limited future window occurring in 2033 (including in connection with a change in control) (the “exercise window”), and are subject to a service-based requirement, a stock-price based requirement and a cap in the value that can be received under the awards. Specifically, the SARs will satisfy the service-based requirement in installments, with 1/3rd of the total shares subject to the award having satisfied such requirement on May 20, 2025 and the remainder ratably over the next four quarters, subject to each executive’s continued service. The SARs that satisfy the service-based requirement become exercisable during a one-month window beginning in late November 2033, and will be automatically exercised in connection with a change in control if it occurs during the exercise window, and in each case only if the closing price of the Company’s Class A common stock exceeds $150 per share on the trading day immediately preceding the exercise date. The SARs have a maximum appreciation value of $300 such that the maximum aggregate number of shares of Class A common stock issuable upon exercise is 215,556 shares, and that maximum will only be reached if our stock price is $450 per share on the trading day immediately preceding the exercise date. If our stock price reaches a closing price of $450 per share during the exercise window, or the last day of the exercise window is an exercisable day (as defined below), the SARs which have satisfied the service-based requirement and remain unexercised will be automatically exercised. The Compensation, Nominating & Governance Committee determined that the structure of the SARs would incentivize the type of achievements that the Company considers desirable and continues to work toward, including long-term, sustained growth and achievement of stock price targets, and will encourage recipients to remain with and invested in the future success of the Company.

  14. Post-Employment Compensation

    Post-Employment Compensation The post-employment compensation terms for key executives are designed to ensure that a change in control only occurs when there is benefit to stockholders. Other than the post-termination security continuation arrangements with Mr. Karp and the acceleration of vesting provisions described in the section below entitled “Potential Payments upon Termination or Change in Control,” we do not currently have any severance or change in control arrangements with our NEOs. We may consider doing so in the future if we believe it to be important to the continued retention and focus of our NEOs.

  15. No Timing of Equity Awards in Relation to Disclosure of Material Nonpublic Information

    No Timing of Equity Awards in Relation to Disclosure of Material Nonpublic Information We did not grant stock options to our NEOs in 2025, but did grant stock appreciation rights in 2025, including to certain of our NEOs, and may continue to do so in the future. In so granting, the Compensation, Nominating & Governance Committee may do so during regularly scheduled compensation committee meetings, special committee meetings, and/or by unanimous written consent. We do not take material nonpublic information into account in determining the timing or terms of such awards. Further, we have not timed the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation. The Compensation, Nominating & Governance Committee may review other factors in determining whether and when to grant equity compensation, including retention and incentive needs, accounting and tax considerations, and such other considerations as are further described above, including in the section entitled “Compensation Philosophy”.

  16. Fiscal 2025 Summary Compensation Table

    Fiscal 2025 Summary Compensation Table The following table presents information regarding the compensation awarded to, earned by and paid to each individual who served as one of our named executive officers during the fiscal years ended December 31, 2023, 2024 and 2025.

  17. Fiscal 2025 Summary Compensation Table

    | Name and Principal Position | Year | Salary ($) | Stock Awards ($)(1) | Option Awards ($)(2) | All Other Compensation ($) | Total ($) | | Alexander Karp Chief Executive Officer | 2025 | 1,101,637 | — | — | 7,521,363(3) | 8,623,000 | | | 2024 | 1,101,637 | — | — | 3,258,533 | 4,360,170 | | | 2023 | 1,101,637 | — | — | 2,396,560 | 3,498,197 | | Stephen Cohen President & Secretary | 2025 | 273,636 | — | — | 730,359(5) | 1,003,995 | | | 2024 | 278,636(4) | — | — | 324,094 | 602,730 | | | 2023 | 273,636 | — | — | 83,653 | 357,289 | | Shyam Sankar Chief Technology Officer & Executive Vice President | 2025 | 509,419 | — | — | 699,831(6) | 1,209,250 | | | 2024 | 509,419 | — | — | 297,629 | 807,048 | | | 2023 | 509,419 | — | — | 122,761 | 632,180 | | David Glazer Chief Financial Officer & Treasurer | 2025 | 450,200 | 21,170,428 | 6,314,713 | 36,535(7) | 27,971,876 | | | 2024 | 450,200 | 11,367,363 | — | 26,194 | 11,843,757 | | | 2023 | 450,200 | — | — | 24,555 | 474,755 | | Ryan Taylor Chief Revenue Officer and Chief Legal Officer | 2025 | 442,925(8) | 21,170,428 | 6,314,713 | 36,535(9) | 27,964,601 | | | 2024 | 437,925 | 11,367,363 | — | 27,994 | 11,833,282 | | | 2023 | 437,925 | 5,085,743 | — | 26,355 | 5,550,023 |

  18. Fiscal 2025 Summary Compensation Table

    _______________ (1)This column reflects the aggregate grant date fair value computed in accordance with ASC Topic 718 of the RSUs granted to our NEOs. The assumptions used in the valuation of these awards are described in the notes to our consolidated financial statements, which are included in the Form 10-K. As described in the notes to the Form 10-K, we generally estimate the grant date fair value of time-based RSU awards based on the closing market price of our Class A common stock on the date of grant; for time-based RSU awards subject to transfer restrictions, the estimated grant date fair value is adjusted to account for those restrictions. These amounts do not necessarily correspond to the actual value recognized or that may be recognized by our NEOs. (2)This column reflects the aggregate grant date fair value computed in accordance with ASC Topic 718 of the SARs granted to our NEOs. The assumptions used in the valuation of these awards are described in the notes to our consolidated financial statements, which are included in the Form 10-K. These amounts do not necessarily correspond to the actual value recognized or that may be recognized by our NEOs. (3)The amount reported includes (i) costs related to the provision of personal tax services in the amount of $363,000, (ii) costs related to the provision of additional umbrella liability insurance coverage in the amount of $103,402, (iii) costs related to the provision of certain healthcare and/or medical services coverage in the amount of $160,000, (iv) a filing fee under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) in the amount of $2,390,000, which was paid by Palantir on behalf of Mr. Karp, (v) approximately $2,506,484 in costs related to personal security services provided pursuant to an overall security program based on an independent security study, with such costs being calculated based on an allocation of total costs incurred by Palantir attributable to personal use of the security services, and (vi) approximately $1,998,476 in costs related to the use of chartered aircraft as well as Mr. Karp’s beneficially owned aircraft pursuant to the security program noted above incurred in connection with personal travel and/or travel with personal guests, with such costs representing actual costs incurred by Palantir. No tax-gross-ups were paid to Mr. Karp with respect to any of his 2025 compensation. (4)The amount reported for 2024 includes Mr. Cohen’s annual base salary of $273,636 and $5,000 paid in accordance with our standard parental benefits policy. (5)The amount reported includes (i) costs related to the provision of personal tax services in the amount of $99,421, (ii) costs related to the provision of additional umbrella liability insurance coverage in the amount of $11,535, (iii) costs related to the provision of certain healthcare and/or medical services coverage in the amount of $160,000, (iv) a filing fee under the HSR Act in the amount of $425,000, which was paid by Palantir on behalf of Mr. Cohen, and (v) approximately $34,403 in costs related to personal security services provided pursuant to an overall security program based on an independent security study, with such costs being calculated based on an allocation of total costs incurred by Palantir attributable to personal use of the security services. No tax-gross-ups were paid to Mr. Cohen with respect to any of his 2025 compensation. (6)The amount reported includes (i) costs related to the provision of personal tax services in the amount of $165,000, (ii) costs related to the provision of additional umbrella liability insurance coverage in the amount of $11,535, (iii) a filing fee under the HSR Act in the amount of $105,000, which was paid by Palantir on behalf of Mr. Sankar, and (iv) approximately $418,296 in costs related to personal security services provided pursuant to an overall security program based on an independent security study, with such costs being calculated based on an allocation of total costs incurred by Palantir attributable to personal use of the security services. No tax-gross-ups were paid to Mr. Sankar with respect to any of his 2025 compensation. (7)The amount reported includes (i) a stipend related to personal tax services in the amount of $25,000 and (ii) costs related to the provision of additional umbrella liability insurance coverage in the amount of $11,535. No tax-gross-ups were paid to Mr. Glazer with respect to any of his 2025 compensation. (8)The amount reported includes Mr. Taylor’s annual base salary of $437,925 and $5,000 paid in accordance with our standard parental benefits policy. (9)The amount reported includes (i) a stipend related to personal tax services in the amount of $25,000 and (ii) costs related to the provision of additional umbrella liability insurance coverage in the amount of $11,535. No tax-gross-ups were paid to Mr. Taylor with respect to any of his 2025 compensation.

  19. Fiscal 2025 Grants of Plan-Based Awards

    Fiscal 2025 Grants of Plan-Based Awards The following table sets forth certain information with respect to all plan-based awards granted to our named executive officers during the fiscal year ended December 31, 2025.

  20. Fiscal 2025 Grants of Plan-Based Awards

    | Name | Grant Date | All Other Stock Awards: Number of Shares of Stock or Units (#)(1) | All Other Option Awards: Number of Securities Underlying Options (#)(2) | Exercise or Base Price of Option Awards ($/Sh) | Grant Date Fair Value of Stock and Option Awards ($)(3) | | David Glazer | 2/20/2025(4) | 232,898 | | | $21,170,428 | | David Glazer | 4/22/2025(5) | | 323,334 | $150.00 | $6,314,713 | | Ryan Taylor | 2/20/2025(4) | 232,898 | | | $21,170,428 | | Ryan Taylor | 4/22/2025(5) | | 323,334 | $150.00 | $6,314,713 |

  21. Fiscal 2025 Grants of Plan-Based Awards

    _______________ (1)RSUs subject to service-based vesting criteria described in the footnotes to the table below titled “Outstanding Equity Awards at Fiscal Year End,” except as otherwise indicated in the footnotes to this table. (2)SARs subject to service-based requirements described in the footnotes to the table below titled “Outstanding Equity Awards at Fiscal Year End,” except as otherwise indicated in the footnotes to this table. (3)Amounts represent the grant date fair value computed in accordance with ASC Topic 718. The assumptions used in the valuation of these awards are set forth in the notes to our consolidated financial statements, which are included in the Form 10-K, with (a) the grant date fair value of time-based RSU awards subject to transfer restrictions adjusted to account for such restrictions and (b) the grant date fair value of SARs that vest over an explicit period and are exercisable at expiration, during a limited window, determined using the Black-Scholes-Merton option pricing model. These amounts do not necessarily correspond to the actual value recognized or that may be recognized by Messrs. Taylor and Glazer. (4)Awards of RSUs granted pursuant to the terms and conditions of our 2020 Plan and an RSU agreement thereunder. The RSUs comprising these awards vested as to (i) 1/6th of the total award of February 20, 2025, and (ii) the remaining amount equally over the subsequent five quarterly vesting dates thereafter. The shares settled at each vesting date or, if the vesting date was not a trading day, the trading day immediately following such vesting date. In addition, the shares were restricted from being sold or otherwise transferred for 12 months following their applicable vesting dates (other than shares sold to cover tax withholding and related fees). (5)Awards of SARs granted pursuant to the terms and conditions of our 2020 Plan and a SAR agreement thereunder. The shares subject to these awards satisfied the service-based requirements as to (i) 1/3rd of the total shares subject to the award on May 20, 2025, and (ii) 1/6th of the total shares subject to the award on each quarterly vesting date thereafter. These SARs are only exercisable following expiration of the required service periods, during a limited window beginning in late November 2033, and only if the closing sales price of the Company’s Class A common stock exceeds $150 per share on the trading day immediately preceding the exercise date.

  22. Outstanding Equity Awards at Fiscal Year End

    Outstanding Equity Awards at Fiscal Year End The following table provides information regarding equity awards held by our named executive officers as of December 31, 2025. See “ —Potential Payments upon Termination or Change in Control” below for information regarding the impact of certain employment termination scenarios on outstanding equity awards.

  23. Outstanding Equity Awards at Fiscal Year End

    | | | Option Awards | | | | Stock Awards | | | Name | Grant Date | Number of Securities Underlying Unexercised Options (#) Exercisable | Number of Securities Underlying Unexercised Options (#) Unexercisable | Option Exercise Price ($) | Option Expiration Date | Number of Shares of Stock That Have Not Vested (#) | Market Value of Shares of Stock That Have Not Vested ($)(1) | | Alexander Karp | 08/06/2020 | 27,450,000(2) | 77,550,000(2) | 11.38 | 08/20/2032 | — | — | | | 08/06/2020 | — | — | — | — | 19,305,000(3) | 3,431,463,750 | | | 08/06/2020 | — | — | — | — | 2,145,000(4) | 381,273,750 | | Stephen Cohen | 06/09/2020 | 8,341,568(5) | — | 4.72 | 06/08/2030 | — | — | | | 08/06/2020 | 12,150,000(6) | 1,350,000(6) | 11.38 | 08/20/2032 | — | — | | | 08/06/2020 | — | — | — | — | 1,350,000(7) | 239,962,500 | | Shyam Sankar | 08/06/2020 | 375,000(6) | 750,000(6) | 11.38 | 08/20/2032 | — | — | | | 08/06/2020 | — | — | — | — | 750,000(7) | 133,312,500 | | David Glazer | 06/04/2020 | 391,000(8) | — | 4.72 | 06/03/2030 | — | — | | | 02/20/2025 | — | — | — | | 77,633(9) | 13,799,266 | | | 04/22/2025 | — | 323,334(10) | 150.00 | 12/20/2033 | — | — | | Ryan Taylor | 02/20/2025 | — | — | — | | 77,633(9) | 13,799,266 | | | 04/22/2025 | — | 323,334(10) | 150.00 | 12/20/2033 | — | — |

  24. Outstanding Equity Awards at Fiscal Year End

    _______________ (1)The market value is based on the closing price of our Class A common stock on December 31, 2025 of $177.75 per share. (2)Amount reflects shares of our Class B common stock subject to a stock option granted pursuant to the terms and conditions of our Executive Equity Plan and a stock option agreement thereunder. The stock option vests in 40 equal quarterly installments beginning on August 20, 2021. (3)Amount reflects shares of our Class B common stock subject to an award of RSUs pursuant to the terms and conditions of our 2010 Plan and an RSU agreement thereunder. The RSUs vest in 40 equal quarterly installments beginning on August 20, 2021. (4)Amount reflects shares of our Class B common stock subject to an award of RSUs pursuant to the terms and conditions of our Executive Equity Plan and an RSU agreement thereunder. The RSUs vest in 40 equal quarterly installments beginning on August 20, 2021. (5)Amount reflects shares of our Class B common stock subject to a stock option granted pursuant to the terms and conditions of our 2010 Plan and a stock option agreement thereunder. The shares subject to the stock option are fully vested and exercisable. (6)Amount reflects shares of our Class B common stock subject to a stock option granted pursuant to the terms and conditions of our Executive Equity Plan and a stock option agreement thereunder. Each stock option vests in 20 equal quarterly installments beginning on August 20, 2021. (7)Amount reflects shares of our Class B common stock subject to an award of RSUs pursuant to the terms and conditions of our 2010 Plan and an RSU agreement thereunder. The RSUs vest in 20 equal quarterly installments beginning on August 20, 2021. (8)Amount reflects shares of our Class A common stock subject to stock options granted pursuant to the terms and conditions of our 2010 Plan and stock option agreements thereunder. The shares subject to the stock options are fully vested and exercisable. (9)Amount reflects shares of our Class A common stock subject to an award of RSUs pursuant to the terms and conditions of our 2020 Plan and an RSU agreement thereunder. The RSUs vest in 6 equal quarterly installments beginning on February 20, 2025. In addition, the shares were restricted from being sold or otherwise transferred for twelve months following their applicable vesting dates (other than shares sold to cover tax withholding and related fees). (10)Amount reflects shares of our Class A common stock subject to an award of SARs pursuant to the terms and conditions of our 2020 Plan and a SAR agreement thereunder. The SARs will satisfy the service-based requirement in installments, with 1/3rd of the total shares subject to the award satisfying such requirement on May 20, 2025 and 1/6th of the total shares subject to the award satisfying such requirement each quarter thereafter. The SARs that satisfy the service-based requirements become exercisable during a limited window beginning in late November 2033, and only if the closing sales price of the Company's Class A common stock exceeds $150 per share on the trading day immediately preceding the exercise date. The SARs have a maximum appreciation value of $300 such that the maximum aggregate number of shares of Class A common stock issuable upon exercise is 215,556.

  25. Option Exercises and Stock Vested

    Option Exercises and Stock Vested The following table shows certain information concerning option exercises and value realized upon the exercise of stock options and the vesting of RSU grants by our named executive officers during the fiscal year ended December 31, 2025.

  26. Option Exercises and Stock Vested

    | | Option Awards | | Stock Awards | | | Name | Number of shares acquired on exercise (#) | Value realized on exercise ($)(1) | Number of shares acquired on vesting (#)(2) | Value realized on vesting ($)(3) | | Alexander Karp | — | — | 3,900,000 | 547,521,000 | | Stephen Cohen | 4,060,000 | 318,076,626 | 2,700,000 | 379,053,000 | | Shyam Sankar | 1,125,000 | 131,851,838 | 1,500,000 | 210,585,000 | | David Glazer | 143,043 | 13,802,735 | 155,265 | 22,351,575 | | Ryan Taylor | 466,670 | 37,098,980 | 155,265 | 22,351,575 |

  27. Option Exercises and Stock Vested

    _______________ (1)Reflects the product of the number of shares of stock subject to the exercised option multiplied by the difference between the market price of our Class A common stock at the time of exercise and the exercise price of the option. (2)Reflects the gross number of shares acquired in connection with RSU vesting. A portion of RSU shares were automatically sold to cover tax withholding obligations incurred in connection with each vesting date, reducing the number of shares ultimately acquired by the individual. (3)Reflects the product of the number of shares of stock vested multiplied by the closing price of our Class A common stock on the vesting date or, if the vesting date was not a trading day, by the closing price on the last trading day immediately preceding such vesting date.

  28. Potential Payments upon Termination or Change in Control

    Potential Payments upon Termination or Change in Control

  29. Change in Control Provisions under the 2020 Plan, 2010 Plan, and Executive Equity Plan

    | Name | Executive Benefits and Payments Upon Termination or Change in Control | Change in Control ($)(1) | | Alexander Karp | Restricted Stock Units | 1,906,368,750(2) | | | Executive Equity Plan Option Grant | 6,450,996,750(2) | | | TOTAL | 8,357,365,500 | | Stephen Cohen | Restricted Stock Units | 239,962,500(3) | | | Stock Options | 224,599,500(3) | | | TOTAL | 464,562,000 | | Shyam Sankar | Restricted Stock Units | 133,312,500(4) | | | Stock Options | 124,777,500(4) | | | TOTAL | 258,090,000 | | David Glazer | Restricted Stock Units | — | | | Stock Options | — | | | Stock Appreciation Rights | —(5) | | | TOTAL | — | | Ryan Taylor | Restricted Stock Units | — | | | Stock Options | — | | | Stock Appreciation Rights | —(5) | | | TOTAL | — |

  30. CEO Pay Ratio

    CEO Pay Ratio Under SEC rules, we are required to provide information regarding the relationship between the total annual compensation of our CEO and the total annual compensation of our median employee (other than our CEO). For our last completed fiscal year, which ended December 31, 2025. •The CEO’s total annual compensation in 2025 was $8,623,000. •The median employee’s total annual compensation in 2025 (as determined using the methodology described below) was $235,115. •Based on the above, for fiscal 2025, the ratio of our CEO’s total annual compensation to the median employee total annual compensation was approximately 37 to 1. This pay ratio is a reasonable estimate calculated in a manner consistent with Item 402(u) of Regulation S-K under the Securities Act, and is based upon our reasonable judgment and assumptions. The SEC rules do not specify a single methodology for identification of the median employee or calculation of the pay ratio, and other companies may use assumptions and methodologies that are different from those used by us in calculating their pay ratios. Accordingly, the pay ratios disclosed by other companies may not be comparable to our pay ratio as disclosed above. We identified the median employee from among all of Palantir’s employees, excluding our CEO and including employees of Palantir’s consolidated subsidiaries. To identify our median employee, we used (i) total annual base pay and overtime, (ii) bonuses and cash incentives paid in fiscal year 2025, and (iii) the grant date fair value of equity awards made in fiscal year 2025 as our consistently applied compensation measure. We applied this measure to our eligible population as of December 31, 2025 (the “Determination Date”), and annualized base pay for employees that were not employed for the full year. Payments not made in U.S. dollars were converted to U.S. dollars using the exchange rate as of the Determination Date. After identifying the median employee using this approach, we calculated annual total compensation for the median employee according to the methodology used to report the annual compensation of our named executive officers in the Fiscal 2025 Summary Compensation Table above. For our CEO, we used the amount reported in the “Total” column of the Fiscal 2025 Summary Compensation Table above.

  31. PAY VERSUS PERFORMANCE

    PAY VERSUS PERFORMANCE The following table sets forth information concerning the relationship between executive compensation actually paid and certain measures of our financial performance for the years ended December 31, 2025, 2024, 2023, 2022, and 2021 as determined in accordance with the requirements published by the SEC. For further information concerning our compensation philosophy, please see the section titled “Executive Compensation.” It is important to note that the “compensation actually paid” (“CAP”) numbers in the table below are computed based on SEC rules (including how to account for changes in the value of unvested equity) and in our case, are driven primarily by changes in our stock price. Our stock price growth during fiscal year 2025 resulted in approximately $252 billion of value created for our stockholders (over 147% growth) and because of this, and following SEC disclosure rules, the fiscal year 2025 CAP disclosed below has increased.

  32. Pay vs. Performance Table

    Pay vs. Performance Table

  33. Pay vs. Performance Table

    | Year | Summary Compensation Table Total for CEO(1) | Compensation Actually Paid to CEO(2) | Average Summary Compensation Table Total for Non-CEO NEOs(3) | Average Compensation Actually Paid to Non-CEO NEOs(4) | Value of Initial Fixed $100 Investment Based On: | | Net Income (Loss) (in thousands)(7) | | | | | | | Total Shareholder Return(5) | Peer Group Total Shareholder Return(6) | | | 2025 | $8,623,000 | $11,094,359,597 | $14,537,431 | $254,460,610 | $754.78 | $258.38 | $1,625,033 | | 2024 | $4,630,170 | $6,792,542,595 | $6,271,705 | $217,048,600 | $321.15 | $208.30 | $462,190 | | 2023 | $3,498,197 | $1,099,624,082 | $1,753,562 | $65,371,598 | $72.91 | $152.48 | $209,825 | | 2022 | $5,492,603 | $(1,709,637,930) | $541,996 | $(112,628,126) | $27.26 | $96.60 | $(373,705) | | 2021 | $4,483,614 | $(894,125,580) | $891,523 | $(56,560,525) | $77.32 | $134.53 | $(520,379) |

  34. Pay vs. Performance Table

    _______________ (1)The dollar amounts in this column are the amounts of total compensation reported for Mr. Karp (our Principal Executive Officer, who we refer to in this disclosure as our “CEO”) for each corresponding year in the “Total” column of the Summary Compensation Table. (2)The dollar amounts in this column represent the amount of “compensation actually paid” to Mr. Karp. The term “compensation actually paid” or “CAP” does not reflect the amount of compensation actually paid, earned or received by him during the applicable year. Per relevant rules, Mr. Karp’s CAP was calculated by adjusting the Summary Compensation Table Total values for CEO for the applicable year in accordance with the adjustment table below:

  35. Pay vs. Performance Table

    | Year | Reported Summary Compensation Table Total for CEO | Less: Reported Value of Equity Awards to CEO(a) | Add: Equity Award Adjustments to CEO(b) | Compensation Actually Paid to CEO | | 2025 | $8,623,000 | $0 | $11,085,736,598 | $11,094,359,597 | | 2024 | $4,630,170 | $0 | $6,787,912,425 | $6,792,542,595 | | 2023 | $3,498,197 | $0 | $1,096,125,885 | $1,099,624,082 | | 2022 | $5,492,603 | $0 | $(1,715,130,533) | $(1,709,637,930) | | 2021 | $4,483,614 | $0 | $(898,609,194) | $(894,125,580) |

  36. Pay vs. Performance Table

    _______________ (a)The amounts in this column reflect the aggregate grant-date fair value reported in the “Stock Awards” and “Option Awards” column, as applicable, in the Summary Compensation Table for the applicable year for Mr. Karp. (b)The amounts deducted or added in calculating the total equity award adjustments in the above table are as follows:

  37. Pay vs. Performance Table

    | Year | Year End Fair Value of Equity Awards Granted in the Year* | Change in Fair Value between End of Prior Year and End of Applicable Year of Equity Awards Granted in Prior Years that were Outstanding and Unvested as of Applicable Year End | Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year | Change in Fair Value between End of Prior Year and Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year | Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year | Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation | Total Equity Award Adjustments | | 2025 | $0 | $10,029,856,155 | $0 | $1,055,880,443 | $0 | $0 | $11,085,736,598 | | 2024 | $0 | $6,511,245,585 | $0 | $276,666,840 | $0 | $0 | $6,787,912,425 | | 2023 | $0 | $998,016,075 | $0 | $98,109,810 | $0 | $0 | $1,096,125,885 | | 2022 | $0 | $(1,558,644,915) | $0 | $(156,485,618) | $0 | $0 | $(1,715,130,533) | | 2021 | $0 | $(892,150,035) | $22,283 | $(6,481,442) | $0 | $0 | $(898,609,194) |

  38. Pay vs. Performance Table

    * In accordance with the relevant rules, the fair values of unvested and outstanding equity awards to our NEOs (including Mr. Karp) were remeasured as of each vesting date and as of the end of each fiscal year during the years displayed in the table above. For options, the fair values as of each measurement date were determined using the Black-Scholes model, with assumptions and methodologies regarding volatility, dividend yield, and risk-free rates that are generally consistent with those used to estimate fair value at grant under US GAAP. The expected life of options as of each measurement date is estimated based on consideration of consistency with the original valuation assumptions for the grant, the circumstances of the grant at the measurement date, and other relevant factors under US GAAP. The resulting expected term assumptions ranged between 0.5 – 11 years for 2021, 3.0 – 10.5 years for 2022, 0.6 – 9.5 years for 2023, 1.3 - 4.3 years for 2024 and 0.5 - 3.3 years for 2025. The range of estimates used in the fair value calculations are as follows: (i) for 2025, volatility between 56.0% - 73.8%, and risk-free rate between 3.5% - 4.2%, (ii) for 2024, volatility between 60.6% - 65.6%, and risk-free rate between 3.8% - 4.4%, (iii) for 2023, volatility between 62% - 69%, and risk-free rate between 3.6% - 5.4%; (iv) for 2022, volatility between 71% - 71.39%, and risk-free rate between 1.12% - 4.36%; and (v) for 2021, volatility at 71%, and risk-free rate between 0.04% - 1.58%. Since Palantir did not pay any dividends during the period from our direct listing through the end of fiscal year 2025, the dividend yield was set to 0% for all measurement dates. The vesting of the growth units granted on May 30, 2019 was based on a service requirement of 180 days post-our direct listing. As such, to account for the value of the growth units, the stock price of each measurement date post-our direct listing was used. For the RSUs, the value is based on Palantir’s stock price as of the measurement date, adjusted to account for the transfer restrictions, if any, that apply to the RSUs. (3)The dollar amounts in this column represent the average of the amounts reported for our NEOs as a group (excluding Mr. Karp) in the “Total” column of the Summary Compensation Table in each applicable year. The names of each of the NEOs (excluding Mr. Karp) included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2025, Stephen Cohen, Shyam Sankar, David Glazer, Ryan Taylor, (ii) for 2024, Stephen Cohen, Shyam Sankar, David Glazer, Ryan Taylor, (iii) for 2023, Stephen Cohen, Shyam Sankar, David Glazer, Ryan Taylor, (iv) for 2022, Stephen Cohen, Shyam Sankar, David Glazer, Ryan Taylor, and (v) for 2021, Stephen Cohen, Shyam Sankar, David Glazer, Ryan Taylor. (4)The dollar amounts in this column represent the average CAP amount to the NEOs as a group (excluding Mr. Karp) determined under the same methodology described in (2) above. Per relevant rules, Average CAPs to Non-CEO NEOs were calculated by adjusting the Summary Compensation Table Total values for the applicable year in accordance with the adjustment table below:

  39. Pay vs. Performance Table

    | Year | Average Reported Summary Compensation Table Total for Non-CEO NEOs | Less: Average Reported Value of Equity Awards for Non-CEO NEOs(a) | Add: Average Equity Award Adjustments for Non-CEO NEOs(b) | Average Compensation Actually Paid to Non-CEO NEOs | | 2025 | $14,537,431 | $13,742,571 | $253,665,750 | $254,460,610 | | 2024 | $6,271,705 | $5,683,682 | $216,460,577 | $217,048,600 | | 2023 | $1,753,562 | $1,271,436 | $64,889,472 | $65,371,598 | | 2022 | $541,996 | $0 | $(113,170,122) | $(112,628,126) | | 2021 | $891,523 | $0 | $(57,452,048) | $(56,560,525) |

  40. Pay vs. Performance Table

    _______________ (a)The amounts in this column reflect the aggregate grant-date fair value reported in the “Stock Awards” and “Option Awards” column, as applicable, in the Summary Compensation Table for the applicable year for our NEOs as a group (excluding Mr. Karp). (b)The amounts deducted or added in calculating the total equity award adjustments in the above table are as follows:

  41. Pay vs. Performance Table

    | Year | Average Year End Fair Value of Equity Awards Granted in the Year+ | Average Change in Fair Value between End of Prior Year and End of Applicable Year of Equity Awards Granted in Prior Years that were Outstanding and Unvested as of Applicable Year End | Average Fair Value as of Vesting Date of Equity Awards Granted and Vested in the Year | Average Change in Fair Value between End of Prior Year and Vesting Date of Equity Awards Granted in Prior Years that Vested in the Year* | Average Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the Year | Average Value of Dividends or other Earnings Paid on Stock or Option Awards not Otherwise Reflected in Fair Value or Total Compensation | Total Average Equity Award Adjustments | | 2025 | $8,064,008 | $107,070,863 | $12,284,418 | $126,246,461 | $0 | $0 | $253,665,750 | | 2024 | $0 | $175,750,470 | $6,666,587 | $34,043,520 | $0 | $0 | $216,460,577 | | 2023 | $0 | $45,187,013 | $1,378,790 | $18,323,670 | $0 | $0 | $64,889,472 | | 2022 | $0 | $(87,619,807) | $0 | $(25,550,314) | $0 | $0 | $(113,170,122) | | 2021 | $0 | $(57,633,177) | $21,282 | $159,848 | $0 | $0 | $(57,452,048) |

  42. Pay vs. Performance Table

    + For SARs, the fair values of the awards granted in 2025 were determined using the Black-Scholes model, with assumptions and methodologies regarding volatility, dividend yield, and risk-free rates that are generally consistent with those used to estimate fair value at grant under US GAAP. The range of estimates used in the fair value calculations are between 56.9% - 62.6% for volatility, and between 3.9% - 4.3% for risk-free rates. Since Palantir did not pay any dividends during fiscal year 2025, the dividend yield was set to 0% for 2025. The expected remaining term for the SARs is between 8 - 8.6 years. * In June 2020, in connection with a broad-based repricing, certain underwater stock options of our Non-CEO NEOs were exchanged for new stock options with an exercise price equal to $4.72 per share and a new maximum term (“Option Exchange”), with all other terms remaining the same. For purposes of calculating the equity award adjustments shown in the table above, the incremental change in fair value recognized related to the Option Exchange is reflected in this column. (5)The amounts in this column show changes over our past five fiscal years in the value of a hypothetical $100 (assuming reinvestment of dividends, but noting that for the period in question no dividends were paid) invested in Palantir’s publicly traded shares of common stock. (6)The amounts in this column show changes over our past five fiscal years in the value of a hypothetical $100 (assuming reinvestment of dividends) invested in the S&P 500 Information Technology Index. (7)The dollar amounts reported in this column represent the amount of net income (loss) reflected in Palantir’s audited financial statements for the applicable year.

  43. Description of Relationship Between the Information Presented in the Pay versus Performance Table

    Description of Relationship Between the Information Presented in the Pay versus Performance Table In accordance with the relevant rules, we are providing the following description of the relationships between the information presented in the Pay versus Performance table on CAP and each of cumulative total shareholder return (“TSR”) and net income (loss).

  44. BOARD OF DIRECTORS

    BOARD OF DIRECTORS Aventura, Florida April 24, 2026