Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 384

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 9A
Chunk 384
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i LLC.

Equity Compensation Plan Information

Our executive officers, directors, and all of our employees are allowed to participate in our equity incentive plans. We believe that providing them with the ability to participate in such plans provides them with a further incentive towards ensuring our success and accomplishing our corporate goals.

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The following table provides information regarding the securities authorized for issuance under our equity compensation plans as of December 31, 2024:

    Plan Category
    Number of Securitiesto Be Issued UponExercise ofOutstandingOptions, RSUs, PRSUsand Rights(a)
     
    Weighted AverageExercise Price ofOutstandingOptions, RSUs, PRSUsand Rights(b) (1)
     
    Number of SecuritiesRemaining Available forFuture Issuance Under EquityCompensation Plans(Excluding SecuritiesReflected in Column (a) (c) (2)

    Equity compensation plans approved bystockholders
     
    3,471,272

    7.80

    -

    Equity compensation plans not approvedby stockholders
     
    -

    -

    -

(1)	The weighted average exercise price excludes restricted stock units and performance stock units, which have no exercise price.

(2)	Excludes 846,685 shares and 114,285 shares that were added to our 2023 Plan and our ESPP, respectively, on January 1, 2025 pursuant to the evergreen provisions thereunder that provide for automatic annual increases on January 1 of each year for the terms of the plans equal to 5% and 1%, respectively, of our outstanding shares as of the preceding December 31 (or, in the case of the ESPP, 114,285 shares, if less, or, in the case of either plan, such lesser amounts as approved by the Board).

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Certain Relationships and Related Transactions

Term Notes

The Company entered into term note agreements with LamVen, an entity owned by Liam Fayed, an officer and co-founder of Surf Air Global Limited, a subsidiary of the Company, and recorded the notes in Due to related parties at carrying value on the Consolidated Balance Sheets.

The LamVen notes with aggregate principal amounts of $4.5 million and $1.0 million, an effective date of November 30, 2022 and January 18, 2023, respectively, and bearing an interest rate of