Company: SERV
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001140361-25-015733
Chunk: 43

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 43
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 $328,333, and $168,561, respectively, to compensate them for services rendered to Serve. In fiscal year 2023, Dr. Kashani and Mr. Parang received an annual base salary of $105,738 and $238,500, respectively, to compensate them for services rendered to Serve. The salary payable to each of Dr. Kashani and Mr. Parang was intended to provide a fixed component of compensation reflecting the executive’s skill set, experience, role and responsibilities. Equity Awards On June 6, 2023, Dr. Kashani and Mr. Parang were each granted an option to purchase 45,182 and 11,403 shares of Serve common stock, which fully vested on the one-month anniversary of the closing of the Merger, subject to the executive’s continued employment through the vesting date. In addition, on June 6, 2023, Dr. Kashani and Mr. Parang were each granted an option to purchase 19,373 and 8,451 shares of Serve common stock, which are scheduled to vest as to 1/48th of the option shares on July 1, 2023 and monthly thereafter, subject to the executive’s continued employment through each vesting date.

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TABLE OF CONTENTS

On April 3, 2024, Mr. Read was awarded a restricted stock unit grant of 240,000 shares of Serve common stock scheduled to vest as to 25% of the shares on April 29, 2025 and as to 1/48th of the shares monthly over the 36 month-period thereafter, subject to the executive’s continued employment through each vesting date. On June 11, 2024, Dr. Kashani and Mr. Parang were each awarded a restricted stock unit grant of 60,000 and 12,857 shares of Serve common stock, scheduled to vest on a monthly basis through May 1, 2025. On September 5, 2024, Dr. Kashani, Mr. Parang and Mr. Read were each awarded a restricted stock unit grant of 1,100,000, 395,000, and 30,000 shares of Serve common stock, scheduled to vest as to 33% of the shares on September 5, 2025 and as to 1/36th of the shares monthly over the remaining 24-month period thereafter. Benefits In 2023, the Company provided benefits to its named executive officers