Anthony Armenta - Nov 11, 2024 Form 4 Insider Report for Serve Robotics Inc. /DE/ (SERV)

Signature
/s/ Anthony Armenta
Stock symbol
SERV
Transactions as of
Nov 11, 2024
Transactions value $
$0
Form type
4
Date filed
11/13/2024, 04:49 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SERV Common Stock Award $0 +440K +1198.42% $0.00 477K Nov 11, 2024 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Common Stock underlying a time-based restricted stock unit award ("RSU"). The RSU will vest as to 1/4th of the total number of shares on the 1-year anniversary of November 11, 2024 (the "Cliff Period"), and 1/48th of the total number of shares shall vest on each monthly anniversary thereafter, for a total vesting period of 48 months. The equity award is subject to a pro rata acceleration upon an Involuntary Termination or Resignation for Good Reason (each as defined in the Offer Letter, dated as of November 2, 2024, by and between the Reporting Person and Serve Operating Co.) within the Cliff Period based on the number of months of service provided to the Company.