Form 4 for SERV Serve Robotics Inc. /DE/
Accepted 2024-11-27 00:00:00 ET · period of report 2024-11-25 · accession 0000950170-24-131583 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DMT | 2024-11-27 | 2024-11-25+ | SERV | Kashani Ali | CEO, Dir | S - Sale+OE | $8.73 | -14.7K | 3.36M | -0.4% | -$128.5K |
| DT | 2024-11-27 | 2024-11-25 | SERV | Kashani Ali | CEO, Dir | M - OptEx | $0.94 | +6,861 | 3.36M | +0.2% | +$6,449 |
| DT | 2024-11-27 | 2024-11-25 | SERV | Kashani Ali | CEO, Dir | M - OptEx | — | -6,861 | 12.5K | -35% | — |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2024-11-25 | S | D | 6,462 | $8.64 | 3,357,738 | D | — | — | (F1) Represents shares of the Issuer's common stock sold to satisfy tax withholding obligations relating to the acquisition of shares of the Issuer's common stock in connection with the settlement of the vested portion of RSUs. Such sale was executed pursuant to provisions of a restricted stock unit agreement by and between the Issuer and the Reporting Person. |
| 2 | Common | Common Stock | 2024-11-25 | S | D | 2,500 | $9.17 | 3,355,238 | D | — | — | (F2) Sale effected pursuant to a Rule 10b5-1 sales plan, adopted by the Reporting Person on August 19, 2024. |
| 3 | Common | Common Stock | 2024-11-26 | S | D | 5,000 | $8.64 | 3,356,342 | D | — | — | (F2) Sale effected pursuant to a Rule 10b5-1 sales plan, adopted by the Reporting Person on August 19, 2024. |
| 4 | Common | Common Stock | 2024-11-25 | S | D | 757 | $8.58 | 3,361,342 | D | — | — | (F3) Represents shares of the Issuer's common stock sold to satisfy tax withholding obligations relating to the acquisition of shares of the Issuer's common stock incurred upon the above-reported exercise of options. |
| 5 | Common | Common Stock | 2024-11-25 | M | A | 6,861 | $0.94 | 3,362,099 | D | — | — | |
| 6 | Derivative | Stock Option (right to buy) | 2024-11-25 | M | D | 6,861 | — | 12,512 | D | $0.94 · — to 2028-06-06 | 6,861 Common Stock | (F5) Received in connection with the Issuer's merger with Serve Robotics Inc. ("Legacy Serve") in accordance with the terms of the Agreement and Plan of Merger and Reorganization dated as of July 31, 2023, by and among the Issuer (f/k/a Patricia Acquisition Corp.), Serve Acquisition Corp. and Legacy Serve in exchange for options to acquire 24,112 shares of Legacy Serve common stock for $0.76 per share. (F4) The stock option vested as to 1/48 of the total number of shares on June 1, 2023, and an additional 1/48 of the total number of shares will vest on each monthly anniversary thereafter, until such time as the stock option is 100% vested, subject to the continuing employment of the Reporting Person on each vesting date. |