Serve Robotics Form 144 reveals ongoing insider sales, 1,212-share plan

Rhea-AI Filing Summary

Serve Robotics Inc. (SERV) filed a Form 144 indicating that insider Brian Read intends to sell 1,212 common shares through Raymond James on or about 30 Jul 2025. The shares are valued at $12,673.52 (≈ $10.46 per share) and represent roughly 0.002% of the 57.12 million shares outstanding. The sale will be executed on the NASDAQ.

The filing also discloses extensive prior activity: over the past three months, the same seller disposed of 53,586 shares across eight transactions, generating $443,370 in gross proceeds. The upcoming sale follows a recent RSU vesting (acquired 29 Jul 2025, payable in cash).

Form 144 notices are routine and do not require public company approval; however, continued insider selling can influence sentiment. No financial results, guidance or operational updates were provided.

Positive

• None.

Negative

• Continued insider selling: the filer has already sold 53,586 shares for $443k in the last three months and plans to sell additional shares, potentially signaling reduced insider confidence.

Insights

Equity Analyst

TL;DR: Small planned sale (1,212 sh) is immaterial, but cumulative 53k+ sh insider disposals may weigh modestly on sentiment.

At 0.002% of shares outstanding, the proposed trade is trivial from a dilution perspective. The cash value is just $12.7k versus SERV’s public float. Insider Brian Read has, however, monetised 53,586 shares for $443k since May, signalling a desire to reduce exposure. While not alarming given the float, persistent selling can be interpreted as a lack of confidence or personal liquidity need. The filing lacks any operational data, so valuation impact is limited to perception rather than fundamentals.

Corporate Governance Specialist

TL;DR: Pattern of insider selling continues; governance risk is low but optics are mildly negative.

Form 144 compliance appears proper—broker named, dates specified, and Rule 10b5-1 representation included. The insider’s aggregate sales (~53.6k shares) over three months exceed the proposed amount and suggest an ongoing liquidation plan. Although within Rule 144 limits, repeated disposals can raise questions about internal outlook. No evidence of undisclosed adverse information is asserted. Overall governance impact is modest, but some investors may view the trend unfavourably.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Raymond James & Associates 880 Carillon Parkway St. Petersburg FL 33716	1212	12673.52	57120000	07/30/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	07/29/2025	RSU Grant Vest	Issuer			5000	07/30/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	07/01/2025	1291	13985.27
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	06/09/2025	2000	25180.00
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	05/30/2025	1295	14976.68
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	05/27/2025	3000	36414.05
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	05/22/2025	1000	11520.00
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	05/13/2025	8900	79655.00
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	05/09/2025	7000	56200.00
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	05/02/2025	29100	205440.18

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Serve Robotics (SERV) shares are being sold under this Form 144?

The filing covers 1,212 common shares.

Who is the selling insider in SERV's latest Form 144?

The seller is Brian Read, as listed in the past-sales table.

What is the total market value of the proposed sale?

The aggregate value is $12,673.52.

How many SERV shares has the insider sold in the past 3 months?

He sold 53,586 shares for approximately $443,370 in gross proceeds.

When will the 1,212 shares likely be sold?

The approximate sale date is 30 July 2025.

Does the planned sale materially dilute existing shareholders?

No. 1,212 shares equal about 0.002% of the 57.12 million shares outstanding.