Serve Robotics Director Vincent Olivier acquired 20,000 shares of Common Stock through a Restricted Stock Unit (RSU) award on June 23, 2025. The RSUs were granted at $0 cost and will vest in full at the earlier of either the company's next annual shareholder meeting or June 12, 2026.
Following this transaction, Olivier directly owns 29,928 shares of Serve Robotics. This Form 4 filing discloses changes in beneficial ownership pursuant to Section 16(a) of the Securities Exchange Act of 1934.
- Transaction Type: RSU Award (Non-derivative securities)
- Filing Status: Individual filing by one reporting person
- Insider Role: Director
- Location: Redwood City, CA headquarters
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.
Serve Robotics Director David Michael Goldberg reported two significant transactions on June 23, 2025:
- Acquired 20,000 shares of Common Stock through a Restricted Stock Unit (RSU) award at $0 cost. The RSUs will fully vest at the earlier of the next annual shareholder meeting or June 12, 2026
- Sold 10,700 shares at a weighted average price of $10.63 per share to cover tax obligations related to the RSU settlement
Following these transactions, Goldberg directly owns 50,725 shares of Serve Robotics common stock. The share sale was executed under a pre-arranged restricted stock unit agreement, with sale prices ranging from $10.63 to $10.64 per share. This Form 4 filing demonstrates standard insider transaction reporting for equity-based compensation and associated tax obligation management.
Form 144 Notice of Proposed Sale filed by Serve Robotics for a planned sale of 10,700 common shares through Raymond James & Associates. The shares have an aggregate market value of $113,744.21 and represent a portion of 20,000 shares acquired through an RSU grant vest from the issuer on June 12, 2025.
Key transaction details:
- Planned execution date: June 23, 2025
- Trading venue: NASDAQ
- Current shares outstanding: 56,319,299
- Sale represents approximately 0.019% of outstanding shares
The filing indicates the seller has no knowledge of undisclosed material adverse information regarding Serve Robotics' operations. No other securities sales were reported by the seller in the past 3 months. This Form 144 represents a standard notice of proposed sale by an insider following RSU vesting.
Serve Robotics has filed a Form S-8 registration statement to register an additional 2,280,000 shares of common stock under its 2023 Equity Incentive Plan. This filing represents the company's fourth S-8 registration, following previous registrations in February, July, and October 2024.
Key details about the company:
- Classified as a non-accelerated filer, smaller reporting company, and emerging growth company
- Headquartered in Redwood City, California
- Led by CEO Ali Kashani, who also serves as Chairman
- Management team includes Touraj Parang (President/COO) and Brian Read (CFO)
The filing incorporates amendments to the 2023 Equity Incentive Plan made in July 2024 and June 2025. The company has elected to maintain its emerging growth company status and has retained Orrick, Herrington & Sutcliffe LLP as legal counsel. This equity compensation plan expansion suggests continued focus on employee retention and attraction through stock-based incentives.