Surf Air Mobility Insider Bruce Hack Boosts Stake to 111.5K Shares
Rhea-AI Filing Summary
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.
Positive
- Director’s ownership rises to 111,547 shares, modestly improving insider alignment with shareholders.
Negative
- None.
Insights
TL;DR: Routine director RSU grant; increases alignment but minimal market impact.
The Form 4 shows standard non-cash equity compensation. Mr. Hack received 62.9k fully-vested RSUs plus 33.7k time-vested RSUs, lifting holdings to 111.5k shares. No open-market buying or selling occurred, and pricing was $0.00—typical for RSUs. The share count is small relative to SRFM’s float, so dilution and signaling effects are negligible. Overall, this is a neutral governance disclosure rather than a catalyst.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Common Stock | 62,857 | $0.00 | -- |
| Grant/Award | Common Stock | 33,724 | $0.00 | -- |
Footnotes (1)
- Represents restricted stock units ("RSUs"). Each RSU represents a contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock. The RSUs were fully vested as of the grant date. On August 19, 2024, the Issuer effected a 1-for-7 reverse stock split, which is reflected in the Reporting's Person's number of securities beneficially owned reported in this filing. Represents RSUs. Each RSU represents a contingent right to receive, upon vesting of the RSU, one share of the Issuer's common stock. The RSUs will vest in full on the first to occur of (i) the first anniversary of the date of grant, or (ii) on the day immediately preceding the first annual meeting of stockholders to occur after the date of grant, subject to the Reporting Person's continued service to the Issuer.
