Company: SRFM
Filing Date: 2025-05-02
Form Type: PRE 14A
Source: 0001140361-25-017136
Chunk: 46

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-02
Form: PRE 14A
Chunk 46
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 A VOTE “FOR” THE APPROVAL OF THIS PROPOSAL 3.

| Surf Air Mobility Inc. |     | 38 |     | 2025 Proxy Statement |

TABLE OF CONTENTS Proposal 4 — Approval of the Surf Air Mobility Inc. Amended and Restated 2023 Equity Incentive Plan Executive Summary In order to continue to provide eligible officers, directors, employees, advisors and consultants of the Company and its subsidiaries with equity-based incentives, on April 23, 2025, the Board approved, subject to stockholder approval, the Surf Air Mobility Inc. Amended and Restated 2023 Equity Incentive Plan (the “Plan”). The Board is submitting the Plan to the stockholders for their approval at the Annual Meeting. The 2023 Equity Incentive Plan originally became effective as of July 27, 2023 and was amended and restated effective as of April 19, 2024 (the “Original Plan”). As of April 28, 2025, the following equity awards were outstanding under the Original Plan: 2,364,311 stock options, 0 unvested restricted shares, 1,173,030 restricted stock units and 1,386,070 performance-based restricted stock units (at target) and we did not have sufficient shares of common stock remaining available for new grants under the Original Plan. The Company believes a compensation policy that includes a balanced mix of cash and equity is the most effective way to attract and retain talented employees whose interests are aligned with stockholders. If the Plan is approved by our stockholders, the aggregate maximum number of shares of common stock that may be issued pursuant to stock awards will increase by 3,500,000 shares of common stock. Without approval of the Plan, the Company will be constrained in its ability to use equity as a component of its compensation philosophy, a result that would put the Company at a considerable competitive disadvantage to its direct and indirect competitors in attracting and retaining the special high level professional employees on which the Company’s success is largely dependent. Our employees are our most valuable asset, and we strive to provide them with compensation packages that are competitive, that reward personal and Company performance and that help meet our retention needs. Equity awards, whose value depends on our stock performance, and which require continued service over time before any value can be realized, help achieve these objectives and are a key element of our compensation program. Equity awards also incentivize our employees to manage our business as owners, aligning their interests