Ali Kashani - 05 Dec 2024 Form 4 Insider Report for Serve Robotics Inc. /DE/ (SERV)

Role
Chief Executive Officer, Director
Signature
/s/ Ali Kashani
Issuer symbol
SERV
Transactions as of
05 Dec 2024
Net transactions value
-$407,945
Form type
4
Filing time
09 Dec 2024, 18:07:39 UTC
Previous filing
04 Dec 2024
Next filing
12 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 $23,875 -2,500 -0.07% $9.55 3,336,342 05 Dec 2024 Direct F1, F2
transaction SERV Common Stock Sale $31,129 -3,138 -0.09% $9.92 3,333,204 05 Dec 2024 Direct F1, F3
transaction SERV Common Stock Options Exercise $42,679 +45,182 +1.4% $0.9446 3,378,386 06 Dec 2024 Direct
transaction SERV Common Stock Options Exercise $381 +403 +0.01% $0.9446 3,378,789 06 Dec 2024 Direct
transaction SERV Common Stock Sale $42,910 -4,291 -0.13% $10.00 3,374,498 06 Dec 2024 Direct F4
transaction SERV Common Stock Sale $83,425 -7,500 -0.22% $11.12 3,366,998 06 Dec 2024 Direct F1, F5
transaction SERV Common Stock Sale $235,866 -20,000 -0.59% $11.79 3,346,998 06 Dec 2024 Direct F6
transaction SERV Common Stock Sale $33,800 -2,500 -0.07% $13.52 3,344,498 09 Dec 2024 Direct F1
holding SERV Common Stock 16,070 05 Dec 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 $0 -45,182 -100% $0.000000 0 06 Dec 2024 Common Stock 45,182 $0.9447 Direct F7
transaction SERV Stock Option (right to buy) Options Exercise $0 -403 -3.2% $0.000000 12,109 06 Dec 2024 Common Stock 403 $0.9447 Direct F8
* 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 Sale effected pursuant to a Rule 10b5-1 sales plan, adopted by the Reporting Person on August 19, 2024.
F2 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 and RSAs. Such sale was executed pursuant to provisions of securities agreements by and between the Issuer and the Reporting Person.
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 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.
F4 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.
F5 The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $10.49 to $11.44, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F6 The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $11.59 to $11.99, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F7 Stock Option is fully vested.
F8 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.