(SERV)

Role: Chief Hardware & Mftg Offcr
Signature: /s/ Evan Dunn, as attorney-in-fact for Euan Abraham
Stock symbol: SERV
Transactions as of: Feb 18, 2025
Transactions value $: -$312,355
Form type: 4
Date filed: 2/20/2025, 04:10 PM
Previous filing: Jan 10, 2025
Next filing: Feb 28, 2025
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	$12.1K	+25K	+16.61%	$0.49	176K	Feb 18, 2025	Direct
transaction	SERV	Common Stock	Sale	-$324K	-25K	-14.24%	$12.98	151K	Feb 18, 2025	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		-25K	-19.86%		101K	Feb 18, 2025	Common Stock	25K	$0.49	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 sold in multiple transactions at prices ranging from $12.71 to $13.23, 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 sold 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").