Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 200

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 200
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 $
        14.74

      The following table represents the various price targets included in the PRSU awards and the number of PRSUs that will vest upon achievement of such price targets: 

        Company Price Target

        Number of PRSUs Eligible to Vest

        $
        35.00

        7,143

        70.00

        410,714

        105.00

        10,714

      A summary of stock-based compensation expense recognized for the years ended December 31, 2024 and December 31, 2023 is as follows (in thousands):

        For The Year Ended December 31,

        2024

        2023

        Stock Options
         
        $
        3,815

        $
        2,907

        RSUs

        2,703

        3,230

        RSPAs

        687

        23,287

        PRSUs

        3,083

        1,306

        Warrants

        403

        —

        Management Incentive Bonus Plan

        (16,667
        )

        16,667

        Other

        —

        855

        Total Stock Based Compensation
         
        $
        (5,976
        )
         
        $
        48,252

109

Note 19. SegmentsThe Company and its chief operating decision maker (“CODM”), which is the Company’s chief executive officer, organize and manage the Company on a consolidated basis, and, accordingly, the Company operates as a single operating and reportable segment, namely its Air Mobility segment.The Air Mobility segment derives revenues from two categories of services:Scheduled Air Service - revenue from operating scheduled commercial air service flights which are sold to the public primarily on a per seat basis, and through subsidized EAS revenue awards from the Department of Transportation.On-Demand- revenue from on-demand flights created for customers on an ad-hoc, by request basis. The accounting policies of the Air Mobility segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the Air Mobility segment and decides how to allocate resources based on net loss as reported on the Consolidated Statements of Operations. The measure of segment assets is reported on the balance sheet as total consolidated assets.In addition to consolidated financial metrics used in assessing the Air Mobility segment, the CODM also regularly reviews additional significant expense categories,