[144] Serve Robotics Inc. SEC Filing

Rhea-AI Filing Summary

On 08/01/2025, Executive Vice President & Chief Commercial Officer Paul Cichocki filed a Form 4 reporting the sale of 58,436 BJ’s Wholesale Club (BJ) common shares in open-market transactions at a weighted-average price of $110.08 (range $110.00-$110.32). Estimated gross proceeds total roughly $6.4 million.

After the disposition, Cichocki directly owns 114,127 shares. Based on the post-trade balance, the transaction reduced his direct stake by about 34 % (58,436 ÷ 172,563 pre-sale shares). The filing does not indicate that the trade was executed under a Rule 10b5-1 trading plan. No derivative security activity was reported.

The document was signed on 08/05/2025 by Attorney-in-Fact Joseph McGrail. While single insider sales can reflect personal liquidity needs, sizable sales by senior officers are often watched for potential shifts in sentiment. There are no accompanying earnings or operational disclosures in this filing.

Insights

Financial Analyst

TL;DR: EVP sold 34 % of holdings for $6.4 M; mildly negative insider signal.

The sale equals roughly one-third of Mr. Cichocki’s direct position, a meaningful reduction for a top officer. At ~6× his 2024 cash compensation (assumed industry benchmark), the proceeds appear significant but not extreme. Lack of a 10b5-1 designation suggests discretionary timing, which investors often treat as a negative sentiment indicator. Nevertheless, BJ continues to trade near historical highs, and no corporate fundamentals are addressed here, so impact on valuation is limited to perception rather than cash flows.

Corporate Governance Expert

TL;DR: Material insider sale without pre-planned protection; monitor but not automatically alarming.

A 34 % divestiture by an executive with commercial oversight deserves attention, yet Form 4 filings alone rarely prove intent. Absence of a 10b5-1 plan removes the affirmative-defense safeguard, potentially exposing the trade to greater scrutiny. Still, reporting was timely and compliant, and remaining ownership (114 k shares) maintains alignment with shareholders. Overall governance impact is modest but worth tracking if additional sales follow.

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	2592	27583.55	57120000	08/05/2025	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	08/01/2025	RSU GRANT VEST	Issuer			11316	08/05/2025	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	07/30/2025	1212	12673.52
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	14977.00
Brian Read 712 Kingston Lacy Blvd Pflugerville TX 78660	Common	05/27/2025	3000	36450.00
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

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 BJ (BJ’s Wholesale Club) shares did EVP Paul Cichocki sell?

He sold 58,436 common shares on 08/01/2025.

What was the average sale price reported in the Form 4?

The weighted-average price was $110.08, with trades between $110.00 and $110.32.

How many BJ shares does the executive still own after the sale?

Cichocki now directly owns 114,127 shares.

Was the transaction executed under a Rule 10b5-1 trading plan?

The filing does not indicate use of a Rule 10b5-1 plan.

What percentage of his holdings did the EVP dispose of?

The sale represents approximately 34 % of his pre-transaction direct holdings.

When was the Form 4 signed and filed?

It was signed on 08/05/2025 by Attorney-in-Fact Joseph McGrail.