The definition from the 1970's. To place a board, between two points off the ground, in order to defecate. This is usually done to evoke terror in the unsuspecting as it was often done between buildings & high up enough to not be noticed until it was too late.
Friday night Bill & Ehud hung out on the roof top getting drunk, smoking, & scheming. When they had to take a dump they walked out on the board between roof tops & planked an unsuspecting crowd walking by. They were lucky to slip away in the darkness because people couldn't have been too happy about the planking they received from ten stories up.
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