Form 4: Surf Air Mobility Director Bruce Hack Increases Stake with RSU Grants

Surf Air Mobility Inc. Director Bruce L. Hack has increased his direct beneficial ownership in the company to 111,547 shares of common stock through recent restricted stock unit grants.

Summary

• Bruce L. Hack, a Director of Surf Air Mobility Inc. (SRFM), acquired 62,857 shares of common stock through restricted stock units (RSUs) that were fully vested as of the grant date.
• Mr. Hack also acquired an additional 33,724 shares of common stock through RSUs, which will vest in full on the first anniversary of the grant date or the day immediately preceding the first annual meeting of stockholders after the grant date, subject to his continued service.
• Following these transactions on June 26, 2025, Mr. Hack's direct beneficial ownership of Surf Air Mobility Inc. common stock totals 111,547 shares.
• The filing notes that a 1-for-7 reverse stock split was effected by the Issuer on August 19, 2024, which is reflected in the reporting person's beneficially owned securities.

Sentiment

Score: 7

Explanation: The sentiment is positive as a director is increasing their stake in the company, aligning their interests with shareholders. This is a routine compensation event, not a major strategic or financial announcement.

Positives

• A director, Bruce L. Hack, increased his direct beneficial ownership in Surf Air Mobility Inc. by acquiring 96,581 shares (62,857 fully vested RSUs and 33,724 unvested RSUs), aligning his interests further with shareholders.
• The acquisition of fully vested RSUs (62,857 shares) immediately adds to the director's direct stake in the company.

Future Outlook

The 33,724 restricted stock units granted to Bruce L. Hack are subject to future vesting, which will occur on the first anniversary of the grant date or the day immediately preceding the first annual meeting of stockholders to occur after the grant date, contingent on his continued service to the Issuer.

Management Comments

• The RSUs were fully vested as of the grant date for 62,857 shares.
• The RSUs for 33,724 shares will vest in full on the first to occur of (i) the first anniversary of the date of grant, or (ii) on the day immediately preceding the first annual meeting of stockholders to occur after the date of grant, subject to the Reporting Person's continued service to the Issuer.

Industry Context

This Form 4 filing reflects an insider's equity compensation and ownership changes, which is a routine disclosure in the public markets. It does not provide broader industry trends or competitive analysis.

Corporate Governance

Related Party Transactions

• The acquisition of restricted stock units by Director Bruce L. Hack represents equity compensation, which is a common form of related party transaction between a company and its executives/directors.

Stakeholder Impact

• Shareholders: Increased ownership by a director can be viewed positively as it aligns management's interests with those of the shareholders, potentially signaling confidence in the company's future performance.

Next Steps

• The 33,724 unvested RSUs granted to Bruce L. Hack are expected to vest on the first anniversary of the grant date (June 26, 2026) or the day immediately preceding the first annual meeting of stockholders after the grant date, whichever occurs first.

Key Dates

Keywords

Surf Air Mobility, SRFM, Form 4, Insider Trading, Restricted Stock Units, RSU, Director Ownership, Equity Compensation, Stock Grant