Deanna White - Jun 25, 2024 Form 4 Insider Report for SURF AIR MOBILITY INC. (SRFM)

Role
Chief Executive Officer and Chief Operating Officer
Signature
/s/ Douglas Sugimoto, as attorney-in-fact for Deanna White
Stock symbol
SRFM
Transactions as of
Jun 25, 2024
Transactions value $
$0
Form type
4
Date filed
5/2/2025, 04:50 PM
Previous filing
May 16, 2024
Next filing
Apr 14, 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
White Deanna Leigh Chief Executive Officer and Chief Operating Officer 12111 S. CRENSHAW BLVD., HAWTHORNE /s/ Douglas Sugimoto, as attorney-in-fact for Deanna White 2025-05-02 0001984009

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 SRFM Stock Option (Right to Buy) Award $0 +125K $0.00 125K Jun 25, 2024 Common Stock 125K $2.63 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On August 19, 2024, the Issuer effected a 1-for-7 reverse stock split, which is reflected in the Reporting Person's number of securities, related exercise price, and vesting provisions reported in this filing.
F2 This option represents the right to purchase 125,151 shares of the Issuer's common stock, which vests as follows, subject to the Reporting Person's continued service to the Issuer on such vesting date: (i) one-third of the shares subject to the option vest on the date that is the earlier of (x) May 15, 2025 and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $21.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following May 15, 2024; (ii) one-third of the shares subject to the option vest on the date that is the earlier of (x) May 15, 2026 and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $35.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following May 15, 2024;
F3 (continued form footnote 2) and (iii) one-third of the shares subject to the option vest on the date that is the earlier of (x) May 15, 2027 and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $49.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following May 15, 2024. As previously disclosed on the current report on Form 8-K filed by the Issuer on May 20, 2024, the Reporting Person was granted an option in connection with her appointment as Interim Chief Executive Officer and Chief Operating Officer, which was subsequently reflected in the Summary Compensation Table in Part III, Item 11 of the Issuer's Annual Report on Form 10-K for the year ended December 31, 2024.

Remarks:

Chief Executive Officer and Chief Operating Officer