Form 4: Surf Air Mobility Director John D'Agostino Reports Acquisition of Restricted Stock Units

Surf Air Mobility Inc. Director John J. D'Agostino reported the acquisition of 96,581 shares of common stock through restricted stock unit grants, with some immediately vested and others subject to future vesting conditions.

Summary

• John J. D'Agostino, a Director of Surf Air Mobility Inc. (SRFM), reported the acquisition of common stock through Restricted Stock Units (RSUs).
• On June 26, 2025, D'Agostino acquired 62,857 RSUs, which were fully vested as of the grant date.
• On the same date, D'Agostino acquired an additional 33,724 RSUs. These RSUs will vest fully on the first anniversary of the grant date or the day immediately preceding the first annual meeting of stockholders after the grant date, contingent on his continued service.
• Following these transactions, D'Agostino beneficially owns a total of 117,569 shares of common stock directly.
• A 1-for-7 reverse stock split, effective August 19, 2024, is reflected in the reported beneficial ownership numbers.
• A Substitution of Power of Attorney was executed on June 26, 2025, appointing Douglas Sugimoto as the new attorney-in-fact for John D'Agostino, replacing David Anderman, for the purpose of SEC filings.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of director equity compensation, which is generally a neutral to slightly positive event as it aligns director interests with shareholders. The reverse stock split is a past event and its impact is already reflected.

Positives

• Acquisition of RSUs by a director indicates continued alignment of interests with shareholders.
• A portion of the RSUs (62,857) were immediately vested upon grant, providing immediate ownership.

Future Outlook

The vesting of 33,724 Restricted Stock Units is contingent on John J. D'Agostino's continued service to Surf Air Mobility Inc. until the first anniversary of the grant date or the day immediately preceding the first annual meeting of stockholders after the grant date.

Industry Context

This Form 4 filing reflects routine equity compensation for a director in the aviation or mobility sector. Such grants are common practice to align director interests with long-term company performance and shareholder value, particularly in growth-oriented companies like those in the evolving air mobility industry.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as compensation for directors is a standard practice across various industries, including technology and transportation.
• The vesting schedule for the unvested RSUs (one year or next annual meeting, subject to continued service) is also typical for director equity awards, aiming to incentivize long-term commitment.
• Specific comparable companies or projects are not detailed in this filing, as it focuses solely on an individual's transaction.

Corporate Governance

Related Party Transactions

• The RSU grants are a form of compensation from the company to a director, which is a common related-party transaction in the context of corporate governance and compensation.

Stakeholder Impact

• Shareholders: The acquisition of RSUs by a director aligns their interests with shareholders, potentially signaling confidence in the company's future. The reverse stock split, while impacting share count, is a past event already reflected in the reported holdings.
• Employees: No direct impact on employees is indicated by this filing.

Next Steps

• The 33,724 unvested RSUs will 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, subject to continued service.

Key Dates

Recommendation

Keywords

Surf Air Mobility, SRFM, John D'Agostino, Form 4, SEC Filing, Restricted Stock Units, RSUs, Insider Trading, Director Holdings, Equity Compensation, Reverse Stock Split