Oliver Reeves - Jan 8, 2024 Form 4 Insider Report for SURF AIR MOBILITY INC. (SRFM)

Role
Chief Financial Officer
Signature
/s/ David Anderman, as attorney-in-fact for Oliver Reeves
Stock symbol
SRFM
Transactions as of
Jan 8, 2024
Transactions value $
$0
Form type
4
Date filed
1/10/2024, 08:46 PM
Previous filing
Jan 10, 2024
Next filing
Apr 5, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SRFM Common Stock Award $0 +50K $0.00 50K Jan 8, 2024 Direct F1

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 +600K $0.00 600K Jan 8, 2024 Common Stock 600K $1.32 Direct F2
transaction SRFM Stock Option (Right to Buy) Award $0 +600K $0.00 600K Jan 8, 2024 Common Stock 600K $1.32 Direct F3
transaction SRFM Stock Option (Right to Buy) Award $0 +600K $0.00 600K Jan 8, 2024 Common Stock 600K $1.32 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of 50,000 restricted stock units, which are fully vested.
F2 This option represents the right to purchase 600,000 shares of the Issuer's common stock, which vests on the date that is the earlier of (x) January 1, 2025 and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $3.00 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 January 1, 2024, subject to the Reporting Person's continued service to the Issuer on such vesting date.
F3 This option represents the right to purchase 600,000 shares of the Issuer's common stock, which vests on the date that is the earlier of (x) January 1, 2026 and (y) the last trading day where the sales price of the Issuer's common stock equals or exceeds $5.00 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 January 1, 2024, subject to the Reporting Person's continued service to the Issuer on such vesting date.
F4 This option represents the right to purchase 600,000 shares of the Issuer's common stock, which vests on the date that is the earlier of (x) January 1, 2027 and (y) the last trading day where the sales price of the Issuer's common stock equals or exceeds $7.00 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 January 1, 2024, subject to the Reporting Person's continued service to the Issuer on such vesting date.