Touraj Parang - Jul 31, 2023 Form 4 Insider Report for Patricia Acquisition Corp. (NONE)

Role
President & COO, Director
Signature
/s/ Ali Kashani, as Attorney-in-Fact
Stock symbol
NONE
Transactions as of
Jul 31, 2023
Transactions value $
$0
Form type
4
Date filed
8/2/2023, 04:45 PM
Next filing
Sep 6, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NONE Common Stock Award +795K 795K Jul 31, 2023 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 NONE Stock Option (Right to Buy) Award +11.4K 11.4K Jul 31, 2023 Common Stock 11.4K $0.86 Direct F2, F3
transaction NONE Stock Option (Right to Buy) Award +8.45K 8.45K Jul 31, 2023 Common Stock 8.45K $0.86 Direct F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in connection with the Issuer's merger (the "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 (the "Merger Agreement"), by and among the Issuer (f/k/a Patricia Acquisition Corp.), Serve Acquisition Corp. and Legacy Serve. Pursuant to the terms of the Merger Agreement, each outstanding share of Legacy Serve capital stock was entitled to receive 0.80350 shares of Common Stock. The Merger closed on July 31, 2023 (the "Merger Closing Date").
F2 The stock option will vest in full on the one-month anniversary of the Merger Closing Date.
F3 Received in connection with the Merger in exchange for options to acquire 14,192 shares of Legacy Serve common stock for $0.69 per share.
F4 The stock option vested as to 1/48 of the total number of shares on July 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 Merger in exchange for options to acquire 10,518 shares of Legacy Serve common stock for $0.69 per share.