Company: SRFM
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0000950170-25-043326
Chunk: 222

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 222
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1.Amounts shown in these columns represent the aggregate grant date fair value (calculated in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718) of stock awards and stock options granted during the year. A description of the methodologies and assumptions we use to value equity awards and the manner in which we recognize the related expense are described in Note 18 to our consolidated financial statements, Stock-Based Compensation. These amounts may not correspond to the actual value eventually realized by each NEO because the value depends on the market value of our common stock at the time the award vests or is exercised. 

2.Mr. Reeves was granted 7,143 fully vested RSUs on January 8, 2024.

3.Ms. White was granted stock option awards of 125,151 shares on April 3, 2024 that were contingent on stockholder approval of an increase in shares under our equity plan, which was received on June 25, 2024. and 157,143 shares on June 25, 2024.

4.Mr. Reeves was granted stock option awards of 257,143 shares on January 8, 2024 and 107,143 shares on April 3, 2024 that were contingent on stockholder approval of an increase in shares under our equity plan, which was received on June 25, 2024.

For a description of the material terms of employment agreements with our named executive officers, see “Employment Agreements” below.

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Outstanding Equity Awards at 2024 Fiscal Year-End

The following table sets forth information on outstanding option and stock awards held by the named executive officers at December 31, 2024, including the number of shares underlying both exercisable and unexercisable portions of each stock option as well as the exercise price and expiration date of each outstanding option.

    Option Awards
     
    Stock Awards

    Name
    Number of Securities Underlying Unexercised Options Exercisable

    Number of Securities Underlying Unexercised Options Unexercisable
     
    Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options
     
    OptionExercisePrice
     
    OptionExpirationDate
     
    Number of Shares or Units of Stock That Have Not Vested
     
    Market Value of Shares or Units of Stock That Have Not Vested ($)
     
    Equity Incentive Plan Awards: Number of Unearned Shares, Units or