April Pannell - 31 Jul 2023 Form 4 Insider Report for Patricia Acquisition Corp. (SERV)

Role: Chief Financial Officer
Signature: /s/ Ali Kashani, as Attorney-in-Fact
Issuer symbol: SERV
Transactions as of: 31 Jul 2023
Net transactions value: $0
Form type: 4
Filing time: 02 Aug 2023, 16:45:16 UTC
SEC: View on sec.gov

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)	Award		+20,087			20,087	31 Jul 2023	Common Stock	20,087	$0.8588	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The stock option vested as to 1/48 of the total number of shares on February 1, 2023, and an additional 1/48 of the total number of shares 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.
F2	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 25,000 shares of Legacy Serve common stock for $0.69 per share.

Content

The stock option vested as to 1/48 of the total number of shares on February 1, 2023, and an additional 1/48 of the total number of shares 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.

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 25,000 shares of Legacy Serve common stock for $0.69 per share.