SURF AIR MOBILITY (SRFM) CFO sells 28,874 shares for tax withholding

Filing Impact

(Neutral)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

SURF AIR MOBILITY INC. Chief Financial Officer Oliver Reeves reported two sales of common stock tied to equity award vesting. On the reported date, he sold a total of 28,874 shares of common stock at an average price of $1.3055 per share.

According to the footnotes, both sales represent shares sold to pay tax withholding obligations arising from the vesting of performance-based restricted stock units and restricted stock units granted to him. After these tax-related sales, Reeves directly held 289,564 shares of common stock.

Insider Trade Summary

Net Seller: 28,874 shares ($37,695)

Net Sell 2 txns

Insider Reeves Oliver

Role Chief Financial Officer

Sold 28,874 shs ($38K)

Type	Security	Shares	Price	Value
Sale	Common Stock	14,437	$1.3055	$19K
Sale	Common Stock	14,437	$1.3055	$19K

Holdings After Transaction: Common Stock — 304,001 shares (Direct)

Footnotes (1)

Represents shares sold to pay tax withholding obligations in connection with the vesting of shares of performance-based restricted stock units granted to the Reporting Person. Represents shares sold to pay tax withholding obligations in connection with the vesting of shares of restricted stock units granted to the Reporting Person.

Key Figures

Shares sold: 28,874 shares Price per share: $1.3055/share Post-transaction holdings: 289,564 shares +2 more

5 metrics

Shares sold 28,874 shares Total common stock sold on transaction date

Price per share $1.3055/share Average sale price for both transactions

Post-transaction holdings 289,564 shares Common stock directly held after reported sales

First sale block 14,437 shares Common stock sold in first reported transaction

Second sale block 14,437 shares Common stock sold in second reported transaction

Key Terms

performance-based restricted stock units, restricted stock units, open-market sale

3 terms

performance-based restricted stock units financial

"Represents shares sold to pay tax withholding obligations in connection with the vesting of shares of performance-based restricted stock units"

Performance-based restricted stock units are a type of employee equity award that converts into company shares only if predefined financial or operational targets are met over a set period. Think of it like a bonus check that becomes stock only when specific goals are hit; it ties pay to results, aligning managers’ incentives with shareholders. Investors care because these awards affect future share count, executive incentives, and signal how management’s success will be measured and rewarded.

restricted stock units financial

"Represents shares sold to pay tax withholding obligations in connection with the vesting of shares of restricted stock units"

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.

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.

Form 4 Insider Transactions: What Each Field Means →

04/17/2026 - 08:43 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)
04/16/2026

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	04/16/2026		S		14,437⁽¹⁾	D	$1.3055	304,001	D
Common Stock	04/16/2026		S		14,437⁽²⁾	D	$1.3055	289,564	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. Represents shares sold to pay tax withholding obligations in connection with the vesting of shares of performance-based restricted stock units granted to the Reporting Person.

2. Represents shares sold to pay tax withholding obligations in connection with the vesting of shares of restricted stock units granted to the Reporting Person.

	/s/ Douglas Sugimoto, as attorney-in-fact for Oliver Reeves	04/17/2026
	** 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 transaction did SRFM CFO Oliver Reeves report?

Oliver Reeves reported selling 28,874 shares of SURF AIR MOBILITY INC. common stock. The filing shows two identical transactions of 14,437 shares each, both coded as open-market sales on the same date at $1.3055 per share.

Why did SRFM CFO Oliver Reeves sell shares in this Form 4 filing?

The shares were sold to cover tax withholding obligations from vesting equity awards. Footnotes state the sales relate to performance-based restricted stock units and restricted stock units that vested and triggered associated tax liabilities.

How many SRFM shares did Oliver Reeves sell and at what price?

He sold a total of 28,874 shares of SURF AIR MOBILITY INC. common stock. Each of the two transactions involved 14,437 shares at an average price of $1.3055 per share, according to the Form 4 details.

How many SRFM shares does CFO Oliver Reeves hold after the reported sales?

After the reported transactions, Reeves directly held 289,564 shares of SURF AIR MOBILITY INC. common stock. This post-transaction figure reflects his remaining direct ownership following the tax-related sales disclosed in the Form 4.

Do the SRFM Form 4 transactions indicate discretionary selling by the CFO?

The filing shows sales coded as open-market, but footnotes clarify they were to pay tax withholding. This means the transactions are linked to vesting equity compensation rather than standalone discretionary sales for portfolio or valuation reasons.