Sudhin Shahani - Jul 25, 2023 Form 4 Insider Report for SURF AIR MOBILITY INC. (SRFM)

Role: Director
Signature: /s/ Regina Braman (Attorney-in-fact)
Stock symbol: SRFM
Transactions as of: Jul 25, 2023
Transactions value $: $0
Form type: 4
Date filed: 7/27/2023, 09:12 PM
Next filing: Sep 14, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SRFM	Common Stock	Award	$0	+1.26M	+35.95%	$0.00	4.77M	Jul 25, 2023	Direct	F1

* 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.

Content

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.