Euan Abraham - 31 Jul 2023 Form 4 Insider Report for Patricia Acquisition Corp. (SERV)

Role
SVP, Hardware & Engineering
Signature
/s/ Ali Kashani, as Attorney-in-Fact
Issuer symbol
SERV
Transactions as of
31 Jul 2023
Net transactions value
$0
Form type
4
Filing time
02 Aug 2023, 16:43:14 UTC
Next filing
06 Sep 2024
SEC
View on sec.gov

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) Award +200,875 200,875 31 Jul 2023 Common Stock 200,875 $0.4854 Direct F1, F2
transaction SERV Stock Option (Right to Buy) Award +100,437 100,437 31 Jul 2023 Common Stock 100,437 $0.4854 Direct F3, F4
transaction SERV Stock Option (Right to Buy) Award +12,909 12,909 31 Jul 2023 Common Stock 12,909 $0.8588 Direct F5, F6
transaction SERV Stock Option (Right to Buy) Award +4,795 4,795 31 Jul 2023 Common Stock 4,795 $0.8588 Direct F7, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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").
F3 The stock option vested as to 1/48 of the total number of shares on July 15, 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 Merger in exchange for options to acquire 125,000 shares of Legacy Serve common stock for $0.39 per share.
F5 The stock option will vest in full on the one-month anniversary of the Merger Closing Date.
F6 Received in connection with the Merger in exchange for options to acquire 16,066 shares of Legacy Serve common stock for $0.69 per share.
F7 The stock option vested as to 1/48 of the total number of shares on July 1, 2023, and an additional 1/48 of the total number of shares will 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.
F8 Received in connection with the Merger in exchange for options to acquire 5,968 shares of Legacy Serve common stock for $0.69 per share.