[144] Serve Robotics Inc. SEC Filing

Rhea-AI Filing Summary

Serve Robotics Inc. (NASDAQ: SERV) – Form 144 notice of proposed insider sale

The filing shows that insider Brian Read plans to dispose of 1,291 common shares on or about 01 Jul 2025 through Raymond James & Associates. At an estimated market value of $13,985.27, the proposed sale represents roughly 0.002% of the company’s 57.12 million shares outstanding, implying an immaterial effect on the public float.

The shares originate from a restricted stock unit (RSU) grant that vested on 29 Jun 2025; full payment is shown as cash. Form 144 is only a notice—execution is not guaranteed—but it signals potential insider activity.

Recent insider selling history included in the filing lists seven transactions by the same individual between 02 May – 09 Jun 2025, totaling 52,295 shares for gross proceeds of approximately $429,386. This pattern may be relevant to investors tracking insider sentiment.

No operational, earnings, or strategic information is provided; the document is strictly a disclosure of intended and recent share sales.

Positive

• Proposed sale equals only 0.002% of outstanding shares, posing negligible dilution or liquidity impact.
• Form 144 provides timely disclosure, enhancing transparency around insider trading plans.

Negative

• Insider Brian Read has already sold 52,295 shares (~$429k) during the last 3 months, signaling sustained divestiture.
• Additional insider sale of 1,291 shares is scheduled for 01 Jul 2025, extending the selling trend.

Insights

Financial Analyst

TL;DR – Minor planned sale; cumulative insider selling trend worth watching.

The proposed disposal of 1,291 shares is economically insignificant (<0.01% float), so I view the single trade as negligible for valuation or liquidity. However, the same seller has off-loaded 52.3 k shares (~$0.43 m) over the past quarter, suggesting a continued reduction in personal exposure. While such selling could simply meet tax or diversification needs, persistent insider divestitures sometimes precede weaker near-term sentiment. Absent other data, I classify the filing as neutral-to-slightly-negative and not likely to move the stock on its own.

Corporate Governance Expert

TL;DR – Repeated insider sales create optics risk but limited governance impact.

Form 144 increases transparency by pre-announcing Rule 144 sales. The volume disclosed is too small to raise dilution or control concerns. Yet, when a single insider liquidates >52 k shares over three months and schedules more, proxy advisors often flag the activity as a potential red flag for shareholder alignment, especially if not offset by open-market purchases or equity grants. Still, without adverse undisclosed information (issuer attestation included), the governance implication remains low to moderate. I deem the impact on shareholder rights or board oversight minimal.

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	1291	13985.27	57120000	07/01/2025	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	06/29/2025	RSU Grant Vest	Issuer			1291	07/01/2025	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	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
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	06/09/2025	2000	25180.00

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 SERV shares does Brian Read intend to sell under this Form 144?

He plans to sell 1,291 common shares.

What percentage of Serve Robotics’ outstanding shares does the planned sale represent?

Approximately 0.002% of the 57.12 million shares outstanding.

When is the proposed sale of SERV shares expected to occur?

The filing lists an approximate sale date of 01 Jul 2025.

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

The filing shows 52,295 shares sold between 02 May – 09 Jun 2025.

What is the total gross proceeds from the recent insider sales disclosed?

Gross proceeds total approximately $429,386.

Which broker will handle the upcoming SERV share sale?

The broker is Raymond James & Associates, St. Petersburg, FL.