Surf Air director gifts 408,163 company shares

SURF AIR MOBILITY INC. director Sudhin Shahani reported a bona fide gift of 408,163 shares of Common Stock on June 3, 2026.

Accepted by SEC EDGAR 06/05/2026 - 07:33 PM EDT

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Form Type

Rhea-AI Filing Summary

SURF AIR MOBILITY INC. director Sudhin Shahani reported a bona fide gift of 408,163 shares of Common Stock on June 3, 2026. The shares were transferred to a trust and no payment or consideration was received.

After this gift transfer, Shahani directly holds 74,020 shares of Surf Air Mobility common stock. Because this was a gift and not an open‑market trade, it does not reflect a purchase or sale decision in the market.

Insider Trade Summary

408,163 shares gifted

Gift 1 txn

Insider Shahani Sudhin

Role Director

Type	Security	Shares	Price	Value
Gift	Common Stock	408,163	$0.00	$0.00

Holdings After Transaction: Common Stock — 74,020 shares (Direct)

Holdings Before and After: Common Stock, 482,183 to 74,020 shares (Direct)

Footnotes (1)

F1. This transaction represents a transfer of securities by bona fide gift to a trust for which no payment or consideration was received by the reporting person.

Key Figures

Gifted shares: 408,163 shares Shares held after transaction: 74,020 shares Transaction price: $0.00 per share +2 more

5 metrics

Gifted shares 408,163 shares Bona fide gift of Common Stock on June 3, 2026

Shares held after transaction 74,020 shares Director’s direct holdings after gift transfer

Transaction price $0.00 per share No consideration received for gifted shares

Gift transactions count 1 transaction Single bona fide gift reported in Form 4

Gifted share total 408,163 shares Total gift shares per transactionSummary

Key Terms

bona fide gift, Common Stock, Form 4

3 terms

bona fide gift financial

"This transaction represents a transfer of securities by bona fide gift to a trust"

A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.

Common Stock financial

"security_title: "Common Stock" in the reported transaction"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did SRFM director Sudhin Shahani report?

Sudhin Shahani reported a bona fide gift transfer of 408,163 shares of Surf Air Mobility Common Stock. The shares were given to a trust, and he received no payment or consideration, meaning this was not a market sale or purchase.

How many SRFM shares did Sudhin Shahani hold after the gift?

Following the reported gift transaction, Sudhin Shahani directly held 74,020 shares of Surf Air Mobility Common Stock. This post-transaction figure shows his remaining direct ownership stake as disclosed in the Form 4 insider filing for the June 3, 2026 transaction.

Was the SRFM insider transaction a market sale or purchase?

The transaction was not a market sale or purchase; it was a bona fide gift. Shahani transferred 408,163 shares of Surf Air Mobility Common Stock to a trust and received no payment or consideration, so it does not indicate trading activity in the open market.

Who received the 408,163 SRFM shares from Sudhin Shahani?

The 408,163 Surf Air Mobility shares were transferred by bona fide gift to a trust. The filing states that the reporting person received no payment or consideration for this transfer, highlighting that it was a non-cash, estate or planning-related move rather than a trade.

What does the Form 4 gift code G mean for SRFM?

Transaction code G on the Form 4 indicates a bona fide gift disposition. For Surf Air Mobility, it means director Sudhin Shahani gifted 408,163 Common Stock shares to a trust, with no cash changing hands and no open-market buying or selling involved.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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^*

Shahani Sudhin

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/03/2026

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	06/03/2026		G		408,163⁽¹⁾	D	$0	74,020	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. This transaction represents a transfer of securities by bona fide gift to a trust for which no payment or consideration was received by the reporting person.

	/s/ Douglas Sugimoto, as attorney-in-fact for Sudhin Shahani	06/05/2026
	** 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