(SERV)

Role: Chief Executive Officer, Director
Signature: /s/ Ali Kashani
Issuer symbol: SERV
Transactions as of: 25 Nov 2024
Net transactions value: -$121,967
Form type: 4
Filing time: 27 Nov 2024, 16:52:32 UTC
Previous filing: 22 Nov 2024
Next filing: 04 Dec 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SERV	Common Stock	Sale	$55,832	-6,462	-0.19%	$8.64	3,357,738	25 Nov 2024	Direct	F1
transaction	SERV	Common Stock	Sale	$22,925	-2,500	-0.07%	$9.17	3,355,238	25 Nov 2024	Direct	F2
transaction	SERV	Common Stock	Options Exercise	$6,481	+6,861	+0.2%	$0.9446	3,362,099	25 Nov 2024	Direct
transaction	SERV	Common Stock	Sale	$6,491	-757	-0.02%	$8.58	3,361,342	25 Nov 2024	Direct	F3
transaction	SERV	Common Stock	Sale	$43,200	-5,000	-0.15%	$8.64	3,356,342	26 Nov 2024	Direct	F2
holding	SERV	Common Stock						16,070	25 Nov 2024	By Spouse

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	SERV	Stock Option (right to buy)	Options Exercise		-6,861	-35%		12,512	25 Nov 2024	Common Stock	6,861	$0.9446	Direct	F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	Represents shares of the Issuer's common stock sold to satisfy tax withholding obligations relating to the acquisition of shares of the Issuer's common stock in connection with the settlement of the vested portion of RSUs. Such sale was executed pursuant to provisions of a restricted stock unit agreement by and between the Issuer and the Reporting Person.
F2	Sale effected pursuant to a Rule 10b5-1 sales plan, adopted by the Reporting Person on August 19, 2024.
F3	Represents shares of the Issuer's common stock sold to satisfy tax withholding obligations relating to the acquisition of shares of the Issuer's common stock incurred upon the above-reported exercise of options.
F4	The stock option vested as to 1/48 of the total number of shares on June 1, 2023, and an additional 1/48 of the total number of shares will vest on each monthly anniversary thereafter, until such time as the stock option is 100% vested, subject to the continuing employment of the Reporting Person on each vesting date.
F5	Received in connection with the Issuer's merger with Serve Robotics Inc. ("Legacy Serve") in accordance with the terms of the Agreement and Plan of Merger and Reorganization dated as of July 31, 2023, by and among the Issuer (f/k/a Patricia Acquisition Corp.), Serve Acquisition Corp. and Legacy Serve in exchange for options to acquire 24,112 shares of Legacy Serve common stock for $0.76 per share.