Sec Form 4 Filing - White Deanna Leigh @ SURF AIR MOBILITY INC. - 2024-06-25

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
White Deanna Leigh
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)
See Remarks
(Last) (First) (Middle)
12111 S. CRENSHAW BLVD.
3. Date of Earliest Transaction (MM/DD/YY)
06/25/2024
(Street)
HAWTHORNE, CA90250
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Stock Option (Right to Buy) ( 1 ) $ 2.63 06/25/2024 A 125,151 ( 2 )( 3 ) 06/25/2034 Common Stock 125,151 $ 0 125,151 D
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
White Deanna Leigh
12111 S. CRENSHAW BLVD.
HAWTHORNE, CA90250
See Remarks
Signatures
/s/ Douglas Sugimoto, as attorney-in-fact for Deanna White 05/02/2025
Signature of Reporting Person Date
Explanation of Responses:
( 1 )On August 19, 2024, the Issuer effected a 1-for-7 reverse stock split, which is reflected in the Reporting Person's number of securities, related exercise price, and vesting provisions reported in this filing.
( 2 )This option represents the right to purchase 125,151 shares of the Issuer's common stock, which vests as follows, subject to the Reporting Person's continued service to the Issuer on such vesting date: (i) one-third of the shares subject to the option vest on the date that is the earlier of (x) May 15, 2025 and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $21.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following May 15, 2024; (ii) one-third of the shares subject to the option vest on the date that is the earlier of (x) May 15, 2026 and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $35.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following May 15, 2024;
( 3 )(continued form footnote 2) and (iii) one-third of the shares subject to the option vest on the date that is the earlier of (x) May 15, 2027 and (y) the last trading day where the sale price of the Issuer's common stock equals or exceeds $49.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period following May 15, 2024. As previously disclosed on the current report on Form 8-K filed by the Issuer on May 20, 2024, the Reporting Person was granted an option in connection with her appointment as Interim Chief Executive Officer and Chief Operating Officer, which was subsequently reflected in the Summary Compensation Table in Part III, Item 11 of the Issuer's Annual Report on Form 10-K for the year ended December 31, 2024.

Remarks:
Chief Executive Officer and Chief Operating Officer

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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