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

Equity Compensation Analyst

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.

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^*

Hack Bruce L.

(Last) (First) (Middle)

12111 S. CRENSHAW BLVD.

(Street)

HAWTHORNE CA 90250

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SURF AIR MOBILITY INC. [ SRFM ]

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)
06/26/2025

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	06/26/2025		A		62,857(1)	A	$0.00	77,823(2)	D
Common Stock	06/26/2025		A		33,724(3)	A	$0.00	111,547	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 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.

2. 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.

3. 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.

Remarks:

Exhibit 24.1

	/s/ Douglas Sugimoto, as attorney-in-fact for Bruce Hack	06/27/2025
	** 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 Surf Air Mobility (SRFM) shares did Bruce Hack acquire on 26 June 2025?

He acquired 62,857 fully-vested RSUs and 33,724 time-vested RSUs, totaling 96,581 shares.

What is the vesting schedule for the 33,724 RSUs granted to Bruce Hack?

They vest in full on the earlier of the first anniversary of the grant or the day before the next annual shareholder meeting, contingent on continued service.

Did the Form 4 report any open-market purchases or sales by Bruce Hack?

No. All transactions were RSU grants coded “A” with $0.00 consideration.

What is Bruce Hack’s total direct ownership in SRFM after the reported transactions?

His direct beneficial ownership is now 111,547 common shares.

Why does the Form 4 reference Surf Air Mobility’s 1-for-7 reverse stock split?

The split, effective 19 August 2024, is already reflected in the share amounts shown for Mr. Hack.