(SERV)

Role: Chief Hardware & Mftg Offcr
Signature: /s/ Euan Abraham
Issuer symbol: SERV
Transactions as of: 18 Nov 2024
Net transactions value: -$557,760
Form type: 4
Filing time: 20 Nov 2024, 16:42:18 UTC
Previous filing: 06 Sep 2024
Next filing: 27 Nov 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	Options Exercise	$36,405	+75,000	+49%	$0.4854	227,858	18 Nov 2024	Direct
transaction	SERV	Common Stock	Sale	$594,165	-75,000	-33%	$7.92	152,858	18 Nov 2024	Direct	F1, F2

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		-75,000	-37%		125,875	18 Nov 2024	Common Stock	75,000	$0.4854	Direct	F3, F4

* 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 16, 2024.
F2	The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $7.60 to $8.02, 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.
F3	The stock option vested as to 1/4 of the total number of shares on November 1, 2022, 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.
F4	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, by and among the Issuer (f/k/a Patricia Acquisition Corp.), Serve Acquisition Corp. and Legacy Serve, in exchange for options to acquire 250,000 shares of Legacy Serve common stock for $0.39 per share. The Merger closed on July 31, 2023 (the "Merger Closing Date").