Robert S. Little - 25 Jul 2023 Form 4 Insider Report for SURF AIR MOBILITY INC. (SRFM)

Role
Chief Executive Officer, Director
Signature
/s/ Regina Braman (Attorney-in-fact)
Issuer symbol
SRFM
Transactions as of
25 Jul 2023
Net transactions value
$0
Form type
4
Filing time
27 Jul 2023, 21:08:05 UTC
Next filing
31 Jul 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SRFM Common Stock Award $0 +280,000 +72% $0.000000 666,740 25 Jul 2023 Direct F1
holding SRFM Common Stock 647,317 25 Jul 2023 By Trust F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents performance-based restricted stock units ("PRSUs"). Each PRSU represents a contingent right to receive, upon vesting of the PRSU, one share of the Issuer's common stock. These PRSUs will vest only if (i) the per-share closing price of the Issuer's common stock over a period of ten consecutive trading days within a five-year performance period is greater than 200% of the per-share price of the Issuer's common stock in the first trade that occurs after July 25, 2023, and (ii) the Reporting Person's employment with the Issuer or one of its subsidiaries continues through the date such stock price goal is achieved, subject to certain exceptions.
F2 These shares are held by the Little 2021 Family Trust.