Serve Robotics Insider Award: 137.8k RSUs to General Counsel Evan Dunn

Rhea-AI Filing Summary

Serve Robotics Inc. (SERV) – Form 4 insider filing

On 07/22/2025, officer and General Counsel Evan Dunn reported the award of 137,782 shares of common stock via a time-based restricted stock unit (RSU) grant. The RSUs were issued at $0 cost as part of equity compensation. Vesting is scheduled in 16 equal quarterly tranches: 1/16 vests on 08/01/2025, with the remaining 15/16 vesting on the same day each subsequent quarter, contingent on continued service.

Following the grant, Dunn’s direct beneficial ownership totals 237,782 SERV shares. No derivative securities were involved, and no shares were sold or transferred.

The filing signals routine executive compensation and slightly increases the company’s outstanding share count; however, the magnitude is immaterial to overall float. The transaction aligns management incentives with shareholder value without immediate cash impact to the company.

Positive

• Management-shareholder alignment: RSU grant links General Counsel’s compensation to SERV share performance.

Negative

• Minor dilution: Up to 137,782 new shares will enter the float over four years as RSUs vest.

Insights

Equity Compensation Analyst

TL;DR: Routine RSU grant to General Counsel; negligible dilution, neutral impact.

The 137,782-share RSU award represents less than 0.5% of SERV’s reported 33 million outstanding shares (latest 10-Q). Because shares vest quarterly over four years, dilution is spread out and contingent on service. No cash changes hands, so there is no balance-sheet effect. Equity grants of this size are typical for C-suite hires or retention packages and are generally viewed as alignment, not a signal of insider sentiment. I classify the filing as non-impactful/neutral for valuation or near-term trading.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Dunn Evan

Role General Counsel

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	137,782	$0.00	--

Holdings After Transaction: Common Stock — 237,782 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).

1. Name and Address of Reporting Person^*

Dunn Evan

(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)
	General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
07/22/2025

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	07/22/2025		A		137,782(1)	A	$0	237,782	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 time-based restricted stock unit award ("RSU"). The RSU will vest as to 1/16th of the total number of shares on August 1, 2025 and 1/16th of the total number of shares on the same day of each quarter thereafter, subject to the Reporting Person's continuous service status through each vesting date.

Remarks:

Exhibit 24.1: Power of Attorney

	/s/ Jongmin Char, as attorney-in-fact for Evan Dunn	07/23/2025
	** 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 SERV shares did Evan Dunn receive?

He was granted 137,782 RSUs, converting 1-for-1 into common shares upon vesting.

What is the vesting schedule for the RSUs?

1/16 vests on Aug 1 2025; the remainder vests quarterly on the same day over the next 15 quarters.

Did the insider pay for the shares?

No. The RSUs were issued at $0 exercise price as part of compensation.

What is Evan Dunn’s total SERV ownership after the grant?

He now directly owns 237,782 shares.

Does the filing indicate buying or selling activity?

It reflects an acquisition (A) code through a compensation grant, not an open-market purchase or sale.