Was the Surf Air Mobility (SRFM) CFO’s share sale a discretionary open-market sale?

The transaction is coded as an open-market sale , but a footnote states the 76,569 shares were sold to satisfy tax withholding obligations arising from the stock grant, indicating the sale was primarily tax-driven rather than a discretionary portfolio decision.

Surf Air Mobility (SRFM) CFO granted 239K shares, sells 76K to cover taxes

Q: What insider transactions did SRFM CFO Oliver Reeves report on this Form 4?

CFO Oliver Reeves reported two transactions in Surf Air Mobility common stock: a grant of 239,439 shares on May 7, 2026, and a sale of 76,569 shares on May 8, 2026, primarily to cover related tax withholding obligations.

Q: How many Surf Air Mobility (SRFM) shares did the CFO receive in the bonus program?

The CFO received 239,439 shares of Surf Air Mobility common stock at $0.00 per share. These shares were issued under the 2025 Surf Air Mobility Executive Bonus Program , reflecting equity-based compensation rather than an open-market purchase.

Q: Why did the Surf Air Mobility (SRFM) CFO sell 76,569 shares of stock?

The CFO sold 76,569 shares of Surf Air Mobility common stock at an average price of $1.3144 per share. A footnote explains that these shares were sold specifically to pay tax withholding obligations related to the recently issued bonus shares.

Filing Impact

(High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Surf Air Mobility Inc. Chief Financial Officer Oliver Reeves reported a stock grant and a related tax-driven sale of common shares. On May 7, 2026, he acquired 239,439 shares of common stock at $0.00 per share, issued under the 2025 Surf Air Mobility Executive Bonus Program. On May 8, 2026, he sold 76,569 shares of common stock at an average price of $1.3144 per share to cover tax withholding obligations tied to the share issuance. Following these transactions, he directly holds 470,816 shares of Surf Air Mobility common stock.

Insider Trade Summary

Net Seller: 76,569 shares ($100,642)

Net Sell 2 txns

Insider Reeves Oliver

Role Chief Financial Officer

Sold 76,569 shs ($101K)

Type	Security	Shares	Price	Value
Sale	Common Stock	76,569	$1.3144	$101K
Grant/Award	Common Stock	239,439	$0.00	--

Holdings After Transaction: Common Stock — 470,816 shares (Direct, null)

Footnotes (1)

Common stock issued pursuant to the 2025 Surf Air Mobility Executive Bonus Program. Represents shares sold to pay tax withholding obligations in connection with shares of common stock issued to the Reporting Person.

Key Figures

Shares granted: 239,439 shares Shares sold for taxes: 76,569 shares Sale price: $1.3144 per share +2 more

5 metrics

Shares granted 239,439 shares Common stock grant on May 7, 2026 under 2025 Executive Bonus Program

Shares sold for taxes 76,569 shares Common stock sale on May 8, 2026 to cover tax withholding

Sale price $1.3144 per share Average price for 76,569 shares sold on May 8, 2026

Shares held after 470,816 shares Direct common stock holdings following reported transactions

Net shares from events 162,870 shares Grant of 239,439 shares less 76,569 shares sold

Key Terms

Executive Bonus Program, open-market sale, tax withholding obligations, grant/award acquisition

4 terms

Executive Bonus Program financial

"Common stock issued pursuant to the 2025 Surf Air Mobility Executive Bonus Program."

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

tax withholding obligations financial

"Represents shares sold to pay tax withholding obligations in connection with shares of common stock issued"

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

Form 4 Insider Transactions: What Each Field Means →

05/08/2026 - 08:48 PM

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^*

Reeves Oliver

(Last)

(First)

(Middle)

12111 S. CRENSHAW BLVD.

(Street)

HAWTHORNE

CALIFORNIA

90250

(City)

(State)

(Zip)

UNITED STATES

(Country)

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
X	Officer (give title below)	Other (specify below)
	Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/07/2026		A		239,439⁽¹⁾	A	$0	547,385	D
Common Stock	05/08/2026		S		76,569⁽²⁾	D	$1.3144	470,816	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Common stock issued pursuant to the 2025 Surf Air Mobility Executive Bonus Program.

2. Represents shares sold to pay tax withholding obligations in connection with shares of common stock issued to the Reporting Person.

	/s/ Douglas Sugimoto, as attorney-in-fact for Oliver Reeves	05/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did SRFM CFO Oliver Reeves report on this Form 4?

CFO Oliver Reeves reported two transactions in Surf Air Mobility common stock: a grant of 239,439 shares on May 7, 2026, and a sale of 76,569 shares on May 8, 2026, primarily to cover related tax withholding obligations.

How many Surf Air Mobility (SRFM) shares did the CFO receive in the bonus program?

The CFO received 239,439 shares of Surf Air Mobility common stock at $0.00 per share. These shares were issued under the 2025 Surf Air Mobility Executive Bonus Program, reflecting equity-based compensation rather than an open-market purchase.

Why did the Surf Air Mobility (SRFM) CFO sell 76,569 shares of stock?

The CFO sold 76,569 shares of Surf Air Mobility common stock at an average price of $1.3144 per share. A footnote explains that these shares were sold specifically to pay tax withholding obligations related to the recently issued bonus shares.

What is the remaining Surf Air Mobility (SRFM) shareholding of the CFO after these transactions?

After the grant and the tax-related sale, the CFO directly holds 470,816 shares of Surf Air Mobility common stock. This figure reflects his post-transaction position as reported in the Form 4, combining the equity award and the subsequent sale for tax withholding.