Surf Air Mobility Inc. SEC Filings

Surf Air Mobility Director Tyler Painter received significant stock awards on June 26, 2025, strengthening his equity position in the company. The transactions included:

• 62,857 RSUs granted and fully vested immediately at $0 exercise price
• 33,724 RSUs granted with vesting conditions: full vesting occurs at earlier of first anniversary or day before next annual stockholder meeting

Following these transactions, Painter's total beneficial ownership consists of 111,547 shares held directly and 182 shares held indirectly through the Tyler and Sonia Painter 2020 Trust. The RSU grants suggest continued alignment between director compensation and shareholder interests, with a mix of immediate and time-based vesting structures.

Surf Air Mobility Inc. (SRFM) – Form 4 Insider Transaction

Director Bruce L. Hack reported two equity awards dated 26 June 2025:

• 62,857 fully-vested restricted stock units (RSUs) granted at $0.00 per share. These shares were immediately settled in common stock.
• 33,724 RSUs granted at $0.00 per share; they will vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the day immediately preceding the first annual shareholder meeting following the grant, subject to Mr. Hack’s continued service.

After the two grants, Mr. Hack’s direct beneficial ownership increased from an estimated 77,823 shares to 111,547 shares of SRFM common stock.

The filing references SRFM’s 1-for-7 reverse stock split effected 19 August 2024, which is already reflected in the share counts.

No derivative securities, open-market purchases, or sales were reported. All transactions were coded “A” (acquisition) and carried no cash consideration, indicating routine board compensation rather than a market signal.

Surf Air Mobility director John J. D'Agostino reported two significant restricted stock unit (RSU) acquisitions on June 26, 2025:

• 62,857 RSUs granted and fully vested immediately upon issuance at $0 cost basis
• 33,724 RSUs granted with vesting conditions, exercisable upon either the first anniversary of grant or day before the next annual stockholder meeting

Following these transactions, D'Agostino's total direct beneficial ownership increased to 117,569 shares. The filing notes a previous 1-for-7 reverse stock split executed on August 19, 2024, which is reflected in the reported share counts. The Form 4 was filed through an attorney-in-fact, Douglas Sugimoto, on June 27, 2025.

Surf Air Mobility (NYSE:SRFM) filed an 8-K disclosing 2025 annual meeting results.

• Reverse stock split: Shareholders authorized a split in a 2-for-1 to 5-for-1 range (7.62 M for, 0.38 M against, 2.09 M abstain).
• Equity dilution: The Amended & Restated 2023 Equity Incentive Plan adds 3.5 M shares (>18 % of current outstanding) after receiving 3.21 M votes for versus 0.45 M against.
• Board elections: David Anderman, John D’Agostino and Edward Mady re-elected as Class B directors; votes for ranged 5.48-5.62 M.
• Auditor continuity: PwC ratified for FY-2025 (8.10 M for, 0.02 M against).
• Shares outstanding: 19,279,660 common shares on 28 Apr 2025 record date.

Approval of the reverse split gives the board flexibility to address price compliance, while the expanded equity pool increases potential dilution. No other material changes were reported.

Surf Air Mobility (NASDAQ:SRFM) director Tyler Painter filed a Form 4 revealing the sale of 40,583 common shares on 24-25 Jun 2025 under a Rule 10b5-1 trading plan adopted 20 Dec 2024. Weighted-average prices ranged from $4.00 to $5.00, generating roughly $182 thousand in proceeds.

• Beneficial ownership fell from ≈59,000 to 15,148 shares (14,966 direct; 182 via trust).
• No derivative securities were exercised or reported.
• Sale equates to an estimated ~69 % reduction of the insider’s pre-transaction holdings.

The large percentage reduction—despite modest dollar value—may signal diminished insider conviction, though timing was pre-scheduled.

Surf Air Mobility (NYSE:SRFM) executed a registered direct offering, selling 10,800,002 common shares at $2.50 and issuing 926,668 pre-funded warrants at $2.4999, generating $27 million gross proceeds. The deal closed on June 26 2025 and lifts total shares outstanding to 34,404,745 (ex-warrants). H.C. Wainwright earned a 7% cash fee and 540,000 five-year warrants at $3.125. A 60-day lock-up limits further equity sales. The securities were issued under the March 2025 Form S-3 shelf; a prospectus supplement was filed the same day.

The cash bolsters liquidity but introduces dilution and warrant overhang.

Surf Air Mobility has announced a public offering of 9,873,334 shares of common stock at $2.50 per share and 926,668 pre-funded warrants at $2.4999 per warrant to institutional investors. The total offering value is approximately $27 million.

Key offering details:

• H.C. Wainwright & Co. serving as exclusive placement agent, receiving 7% cash fee
• Placement agent warrants to purchase up to 540,000 shares
• Pre-funded warrants exercisable immediately at $0.0001 per share
• Common stock trades on NYSE under symbol SRFM (last traded at $3.60)

The company plans to use proceeds for debt reduction and general corporate purposes. Post-offering, shares outstanding will increase to 33,712,011. Surf Air's core business focuses on developing electric and hybrid-electric powertrain technology for regional air mobility, aiming to reduce costs and environmental impact of regional flying by decade's end.