Bruce Hack - Apr 3, 2024 Form 4 Insider Report for SURF AIR MOBILITY INC. (SRFM)

Role
Director
Signature
/s/ David Anderman, as attorney-in-fact for Bruce Hack
Stock symbol
SRFM
Transactions as of
Apr 3, 2024
Transactions value $
$0
Form type
4
Date filed
4/5/2024, 09:38 PM
Previous filing
Jul 25, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SRFM Common Stock Award $0 +91.4K +681.28% $0.00 105K Apr 3, 2024 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SRFM Stock Option (Right to Buy) Award $0 +25K $0.00 25K Apr 3, 2024 Common Stock 25K $0.88 Direct F2
transaction SRFM Stock Option (Right to Buy) Award $0 +25K $0.00 25K Apr 3, 2024 Common Stock 25K $0.88 Direct F3
transaction SRFM Stock Option (Right to Buy) Award $0 +25K $0.00 25K Apr 3, 2024 Common Stock 25K $0.88 Direct F4
transaction SRFM Stock Option (Right to Buy) Award $0 +25K $0.00 25K Apr 3, 2024 Common Stock 25K $0.88 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents restricted stock units ("RSUs"). Each RSU represents a contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock. The RSUs will vest in full on July 27, 2024, subject to the Reporting Person's continued service to the Issuer.
F2 This option represents the right to purchase 25,000 shares of the Issuer's common stock, which vested immediately upon grant.
F3 This option represents the right to purchase 25,000 shares of the Issuer's common stock, which vests on the date that is the earlier of (x) the first anniversary of the grant date and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $3.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the grant date, subject to the Reporting Person's continued service to the Issuer on such vesting date.
F4 This option represents the right to purchase 25,000 shares of the Issuer's common stock, which vests on the date that is the earlier of (x) the second anniversary of the grant date and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $5.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the grant date, subject to the Reporting Person's continued service to the Issuer on such vesting date.
F5 This option represents the right to purchase 25,000 shares of the Issuer's common stock, which vests on the date that is the earlier of (x) the third anniversary of the grant date and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $7.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following the grant date, subject to the Reporting Person's continued service to the Issuer on such vesting date.