[Form 4] Serve Robotics Inc. Insider Trading Activity

Rhea-AI Filing Summary

Serve Robotics director Vincent Olivier reported offsetting transactions on 08/28/2025. He sold 8,000 shares of common stock in multiple trades at a weighted average price of $11.491, which left him with 21,928 shares reported as beneficially owned after the sale. On the same day he also acquired 8,000 shares by exercising stock options at an exercise price of $3.11, increasing his reported beneficial ownership to 29,928 shares. The filing notes the option was fully vested and the sale prices ranged from $11.49 to $11.50.

Positive

• Option exercise fully vested, indicating the reported acquisition was executed under vested rights
• Filing discloses weighted-average sale price and offers per-trade breakdown, enhancing transactional transparency

Negative

• Director sold 8,000 shares, reducing immediate direct holdings to 21,928 before the reported acquisition
• Sale occurred at market, which may reflect liquidity-taking that could be perceived negatively by some investors

Insights

Financial Analyst

TL;DR: Routine insider exercise and partial sale; net holdings increased through option exercise despite a contemporaneous sale.

The filing records a contemporaneous option exercise and sale by a director: 8,000 shares exercised at $3.11 and 8,000 shares sold at a weighted average of $11.491 on 08/28/2025. The director's reported beneficial ownership rose from 21,928 after the sale to 29,928 after the acquisition, per the form's sequencing. This pattern is consistent with liquidity-taking after realizing gains from a low-cost option exercise. Transaction sizes are disclosed explicitly; no additional financial metrics or company-wide impacts are presented in the filing.

Corporate Governance Expert

TL;DR: Disclosure is complete and includes vesting and price range details; appears compliant with Section 16 reporting.

The Form 4 includes required details: transaction dates, codes for sale (S) and exercise/acquisition (M), prices, resulting beneficial ownership, and a statement that the option is fully vested. The filer supplied a footnote clarifying the weighted-average sale price and offered to provide per-trade breakdowns on request, which improves transparency. There are no indications of late filing or undisclosed related-party arrangements within the reported content.

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
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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^*

Vincent Olivier

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

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	08/28/2025		S		8,000	D	$11.491(1)	21,928	D
Common Stock	08/28/2025		M		8,000	A	$3.11	29,928	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
Stock Option (right to buy)	$3.11	08/28/2025		M			8,000	(2)	04/18/2034	Common Stock	8,000	$0	12,000	D

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 $11.49 to $11.50, 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.

2. The Stock Option has fully vested.

Remarks:

	/s/ Jongmin Char, as attorney-in-fact for Olivier Vincent	08/29/2025
	** 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 transactions did Serve Robotics director Vincent Olivier report (SERV)?

On 08/28/2025 he sold 8,000 shares at a weighted average price of $11.491 and acquired 8,000 shares by exercising options at $3.11.

How many shares does Vincent Olivier beneficially own after these transactions?

The Form 4 lists 21,928 shares after the sale and 29,928 shares after the option exercise.

Were the options exercised by Vincent Olivier vested?

Yes. The filing states the stock option has fully vested.

What price range were the sold shares executed at?

The filing notes sales were executed at prices ranging from $11.49 to $11.50, with a weighted average of $11.491.

Who signed the Form 4 on behalf of Vincent Olivier?

The form was signed by Jongmin Char, as attorney-in-fact for Olivier Vincent on 08/29/2025.