Serve Robotics Strengthens Board Compensation with $1M+ Stock Award to Director

Rhea-AI Filing Summary

Director Lily Sarafan of Serve Robotics (SERV) reported the acquisition of 20,000 shares of common stock through restricted stock units (RSUs) on June 23, 2025. The transaction details include:

• Transaction Type: Acquisition of RSUs at $0 cost basis
• Post-Transaction Holdings: 58,402 shares held directly
• Vesting Schedule: RSUs will fully vest at the earlier of:
  • The next annual shareholder meeting
  • June 12, 2026

This Form 4 filing indicates standard equity-based compensation for board service, which aligns the director's interests with shareholders. Following this transaction, Sarafan maintains a direct ownership position in the company with no reported indirect holdings or derivative securities.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Sarafan Lily

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	20,000	$0.00	--

Holdings After Transaction: Common Stock — 58,402 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

Sarafan Lily

(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)
06/23/2025

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	06/23/2025		A		20,000(1)	A	$0	58,402	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. Represents shares of Common Stock underlying a restricted stock unit award ("RSU"). The RSU will vest in full on the earlier to occur of (i) the Issuer's next annual shareholder meeting or (ii) June 12, 2026.

Remarks:

Exhibit 24.1: Power of Attorney

	/s/ Lily Sarafan	06/23/2025
	** 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

How many shares of SERV stock did Director Lily Sarafan acquire on June 23, 2025?

Director Lily Sarafan acquired 20,000 shares of SERV common stock on June 23, 2025 in the form of restricted stock units (RSUs) at a price of $0.

What is the vesting schedule for SERV Director Lily Sarafan's RSU grant?

The RSU grant will vest in full on the earlier of (i) Serve Robotics' next annual shareholder meeting or (ii) June 12, 2026.

How many SERV shares does Lily Sarafan own after the June 23, 2025 transaction?

Following the reported RSU grant transaction, Lily Sarafan beneficially owns 58,402 shares of SERV common stock directly.

What position does Lily Sarafan hold at SERV as of June 2025?

According to the Form 4 filing, Lily Sarafan serves as a Director on the Board of Serve Robotics Inc. (SERV).