Company: SRFM
Filing Date: 2025-05-02
Form Type: PRE 14A
Source: 0001140361-25-017136
Chunk: 12

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-02
Form: PRE 14A
Chunk 12
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 grant with a target grant date fair value of $115,500 (reduced by 30% as approved by the Nominating and Governance Committee of the Board on December 3, 2024) in the form of restricted stock units. The annual equity awards vest in full on the one-year anniversary of the date of grant subject to the non-employee director’s continued service through such date, provided that, because the 2024 annual equity grant that will be awarded at the time of the Annual Meeting is intended as compensation for service during 2024, such award will vest in full at the time of grant. In addition, in 2024, Carl Albert and Bruce Hack received option grants of 172,340 and 14,286 shares, respectively, with an exercise price of $6.17 per share, 25% of which were vested as of the grant date of April 3, 2024, with the remaining 75% vesting over a three-year period thereafter subject to the non-employee director’s continued service. Such options were granted to compensate Messrs. Albert and Hack for significant additional time spent during the year in connection with certain projects outside of their normal duties on the Board. Also during 2024, Mr. Shahani received a stock option grant and Mr. Anderman received the grant of a warrant in connection with their service as an employee and a consultant, respectively, during the year and though such grants were not intended to compensate them in their capacities as non-employee directors, such amounts appear as compensation in the table below in accordance with SEC rules. Director Stock Ownership Guidelines The Compensation Committee and our Board of Directors adopted the following stock ownership guidelines for our non-employee directors to better align the interests of our non-employee directors with those of our stockholders:

| • | Directors must maintain a minimum holding of company stock with a fair market value equal to five times (5x) such director’s annual cash retainer (excluding annual retainers for service on committees of the Board); and |

| • | Directors will have five years to reach the minimum holding level. |

As of April 1, 2025, all of our non-employee directors had either met their stock ownership requirement or had remaining time to do so. Director Compensation Table - Fiscal 2024 The following table sets forth information regarding the compensation received by each of our non-employee directors serving during the year ended December 31, 2024. Stan Little and Sudhin Shahani, who received