[Form 4] Serve Robotics Inc. Insider Trading Activity

Rhea-AI Filing Summary

Brian Read, identified as Chief Financial Officer of Serve Robotics Inc. (ticker: SERV), reported an insider sale on 09/11/2025. The Form 4 shows a transaction code S for the sale of 4,319 shares of common stock at a weighted-average price of $11.535 per share (prices ranged $11.53–$11.54). Following the reported sale, the filing shows 360,439 shares beneficially owned. The Form 4 was signed by an attorney-in-fact, /s/ Jongmin Char, on behalf of Brian Read on 09/11/2025. The filer notes the reported price is a weighted average and offers to provide detailed per-transaction pricing on request.

Positive

• Timely and complete Section 16 disclosure of the insider sale with transaction date, price range, and post-transaction ownership
• Clear explanatory footnote stating the weighted-average price and offering to provide per-transaction pricing on request

Negative

• Insider sale of 4,319 shares reduces the CFO's holdings to 360,439 shares
• No context provided in the filing for the reason behind the sale (e.g., 10b5-1 plan or personal reasons)

Insights

Financial Analyst

TL;DR: Insider sale reported; transaction size appears modest relative to total holdings, so market impact is likely limited.

The CFO sold 4,319 shares at a weighted-average price of $11.535 on 09/11/2025, leaving 360,439 shares beneficially owned. The filing is procedural and discloses the sale range ($11.53–$11.54). There is no additional financial context in the Form 4—no indication of exercise of options or derivative transactions—so valuation or tax-motivated explanations are not provided. From a trading-impact perspective, the absolute share count sold is small relative to total reported holdings, suggesting limited material effect on capitalization or cash position disclosed in this form.

Corporate Governance Expert

TL;DR: Disclosure appears complete and timely; attorney-in-fact signature is properly noted.

The Form 4 identifies the reporting person, role (CFO), transaction date, code, number of shares sold, weighted-average price, and post-transaction beneficial ownership. The explanatory footnote clarifies the weighted-average pricing and offers supplemental detail upon request. The form was executed by an attorney-in-fact, which is documented. There are no indications of related-party agreements or 10b5-1 plan boxes checked in the provided text. Governance-wise, the filing satisfies Section 16 reporting elements present in this document.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Read Brian

(Last) (First) (Middle)

C/O SERVE ROBOTICS INC.

730 BROADWAY

(Street)

REDWOOD CITY CA 94063

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Serve Robotics Inc. /DE/ [ SERV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/11/2025		S		4,319	D	$11.535(1)	360,439	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $11.53 to $11.54, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Remarks:

	/s/ Jongmin Char, as attorney-in-fact for Brian Read	09/11/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Serve Robotics (SERV) insider Brian Read report on 09/11/2025?

The Form 4 reports that Brian Read sold 4,319 shares of common stock at a weighted-average price of $11.535 per share on 09/11/2025.

How many shares does Brian Read own after the reported transaction?

The filing shows Brian Read beneficially owned 360,439 shares following the sale.

What price range was disclosed for the sale of SERV shares?

The explanatory footnote states the sale prices ranged from $11.53 to $11.54, and the reported price is a weighted average of $11.535.

Who signed the Form 4 for Brian Read?

The Form 4 was signed by an attorney-in-fact, /s/ Jongmin Char, on behalf of Brian Read on 09/11/2025.

Does the Form 4 indicate the sale was made under a 10b5-1 plan?

The provided content does not show any box checked or language indicating the transaction was made pursuant to a 10b5-1 plan.