Form 4: Reporting Personeneficially Owns 4,461,564 SRFM Shares

Rhea-AI Filing Summary

Reporting person: Palantir Technologies Inc. filed a Form 4 regarding its holdings in Surf Air Mobility Inc. (SRFM). The filing states that as of September 8, 2025 the issuer had 44,789,644 shares outstanding and, due to an increase in outstanding shares, the reporting person now beneficially owns 4,461,564 shares. Because this holding represents less than 10% of outstanding shares, the reporting person is no longer subject to Section 16 reporting requirements for transactions on or after that date.

Positive

• Continued ownership disclosed: Reporting person still holds 4,461,564 shares of SRFM as stated in the filing.
• Clear basis for calculation: Outstanding shares figure of 44,789,644 is provided to support the ownership percentage change.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine insider ownership update: beneficial ownership fell below the 10% threshold due to share count increase.

The Form 4 contains a concise disclosure that the reporting person holds 4,461,564 shares of SRFM and that outstanding shares rose to 44,789,644 as of September 8, 2025. There are no line-item transaction entries for acquisitions or dispositions in the provided tables. The material effect described is administrative: losing Section 16 status removes certain short-swing reporting obligations, but does not itself indicate a change in economic exposure beyond the reported share count.

Corporate Governance Expert

TL;DR: Disclosure is procedural and flags a threshold change in reporting obligations, not a trading event.

The remarks clarify that the reporting person remains a shareholder with 4,461,564 shares but, because the issuerxpanded its outstanding shares, the holder's percentage ownership fell below the 10% trigger for Section 16. The form lacks details of specific trades or derivative positions and includes a power-of-attorney signature. For investors, this is a routine update on reporting status rather than actionable insider trading information.

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

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X

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^*

Palantir Technologies Inc.

(Last) (First) (Middle)

1200 17TH STREET, FLOOR 15

(Street)

DENVER CO 80202

(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)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Former 10% Owner

3. Date of Earliest Transaction (Month/Day/Year)
09/08/2025

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

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:

Remarks:

Based on 44,789,644 shares of the Issuer's common stock outstanding as of September 8, 2025, as provided by the Issuer. Due to an increase in the outstanding shares of the Issuer's common stock, the Reporting Person now beneficially owns less than 10% of such outstanding shares. As a result, the Reporting Person is no longer subject to the requirements of Section 16 in connection with any transactions in the equity securities of the Issuer on or after such date. As of the date of this Form 4 filing, the Reporting Person continues to own 4,461,564 shares of common stock of the Issuer, as reported on the Reporting Person's Form 4 filed June 23, 2025.

	/s/ Scott S. Hsu, under power of attorney	09/09/2025
	** 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

What change did the Form 4 for SRFM report?

The filing reports that the reporting person now beneficially owns 4,461,564 shares and, because outstanding shares increased to 44,789,644, the reporting personalls below the 10% ownership threshold.

Does this Form 4 show any purchases or sales of SRFM stock?

No. The provided tables contain no specific transaction entries; the filingontains remarks about percentage ownership change but no line-item acquisitions or dispositions.

When did the change in status occur?

The filing references the outstanding share count and ownership position "as of September 8, 2025," and the Form 4 lists an earliest transaction date of 09/08/2025.

What is the reporting consequence of falling below 10% ownership?

The filing states that because the reporting person now beneficially owns less than 10% of SRFM, they are no longer subject to Section 16 reporting requirements for transactions on or after the noted date.

Who signed the Form 4?

The Form 4 is signed by /s/ Scott S. Hsu, under power of attorney, dated 09/09/2025.