SURF AIR MOBILITY (SRFM) CFO receives 150,000-share restricted stock grant

Rhea-AI Filing Summary

Reeves Oliver reported acquisition or exercise transactions in this Form 4 filing.

SURF AIR MOBILITY INC. Chief Financial Officer Oliver Reeves reported an award of 150,000 shares of Common Stock in the form of restricted stock units at no cash cost. According to the terms, 25% of the units were fully vested on the grant date, and the remaining 75% will vest in three equal annual installments beginning on the first anniversary of the grant, subject to his continued service. Following this compensation grant, he directly holds 318,438 shares.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Reeves Oliver

Role Chief Financial Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	150,000	$0.00	--

Holdings After Transaction: Common Stock — 318,438 shares (Direct)

Footnotes (1)

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Key Figures

RSU grant size: 150,000 shares Grant price: $0.00 per share Immediate vesting portion: 25% +2 more

5 metrics

RSU grant size 150,000 shares Restricted stock unit award to CFO on grant date

Grant price $0.00 per share Reported transaction price for RSU award

Immediate vesting portion 25% Portion of RSUs vested as of grant date

Remaining vesting portion 75% RSUs vesting in three equal annual installments

Post-award holdings 318,438 shares Total Common Stock held directly after transaction

Key Terms

restricted stock units, vest, award agreement

3 terms

restricted stock units financial

"Represents restricted stock units, 25% of which were fully vested as of the grant date"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

vest financial

"the remaining 75% of which will vest in three equal annual installments"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

award agreement financial

"delivered to the Reporting Person on the date specified in the award agreement"

An award agreement is a legal contract that spells out the terms of a pay or equity grant—such as stock options, restricted shares, or cash bonuses—given to an employee, director or consultant. It describes what is being granted, any conditions for keeping it (for example, earning it over time or meeting performance targets), and what happens if the person leaves or breaks rules. Investors care because these agreements affect company costs, potential share dilution and how executives are motivated and rewarded.

Form 4 Insider Transactions: What Each Field Means →

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)
04/10/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/10/2026		A(1)		150,000(1)	A	$0	318,438	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, 25% of which were fully vested as of the grant date and the remaining 75% of which will vest in three equal annual installments beginning on the first anniversary of the date of grant, subject to the Reporting Person's continued service through each applicable vesting date. Vested shares of common stock of the Company will be delivered to the Reporting Person on the date specified in the award agreement.

	/s/ Douglas Sugimoto, as attorney-in-fact for Oliver Reeves	04/14/2026
	** 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)

FAQ

What insider transaction did SURF AIR MOBILITY (SRFM) report for CFO Oliver Reeves?

SURF AIR MOBILITY reported that CFO Oliver Reeves received a grant of 150,000 restricted stock units of Common Stock. The award was reported at a price of $0.00 per share as part of his compensation package, not an open-market purchase or sale.

How do the 150,000 restricted stock units for SRFM’s CFO vest?

The 150,000 restricted stock units vest over time. Footnotes state 25% were fully vested on the grant date, while the remaining 75% vest in three equal annual installments starting on the first anniversary, assuming Reeves continues in service through each vesting date.

Did the SRFM CFO pay cash for the 150,000 restricted stock units granted?

No, the Form 4 lists the transaction price as $0.00 per share for the 150,000 restricted stock units. This indicates a compensation-related equity award rather than a cash purchase in the open market, aligning with typical executive incentive structures.

What are CFO Oliver Reeves’ holdings in SURF AIR MOBILITY after this award?

After this restricted stock unit grant, CFO Oliver Reeves is shown as directly holding 318,438 shares of Common Stock. This post-transaction figure reflects his beneficial ownership reported in the filing and provides context for the size of the new equity award.

What conditions apply to vesting of SRFM CFO’s restricted stock units?

The award vests based on continued service. Footnotes explain that the remaining 75% of the restricted stock units vest in three equal annual installments only if Reeves continues serving through each vesting date, with delivery timing specified in the award agreement.