Company: SRFM
Filing Date: 2025-05-13
Form Type: DEF 14A
Source: 0001140361-25-018647
Chunk: 40

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-13
Form: DEF 14A
Chunk 40
---
 the Reverse Stock Split ratio selected by the Board) will be reclassified and combined, automatically and without any action on the part of the Company or its stockholders, into one share of common stock; |

| • | no fractional shares of common stock will be issued; instead, stockholders who would otherwise be entitled to receive a fractional share will be entitled to receive cash in lieu of the fractional share (as detailed below); |

| • | proportionate adjustments will be made to the number of shares issuable upon the exercise or vesting of all then-outstanding stock options, warrants and restricted stock units, which will result in a proportional decrease in the number of shares of common stock reserved for issuance upon exercise or vesting of such stock options, warrants and restricted stock units, and, in the case of stock options, a proportional increase in the exercise price of all such stock options; |

| • | the number of shares of common stock then reserved for issuance under our equity compensation plans will be reduced proportionately; |

| • | the number of shares of common stock then reserved for issuance pursuant to the Company’s senior secured convertible promissory notes with LamVen, LLC and Partners for Growth V, L.P. (collectively, the “Convertible Notes”) will be reduced proportionately, and the conversion price of our Convertible Notes will be increased proportionately; and |

| • | the number of authorized shares will not be reduced by a corresponding ratio. |

The following table summarizes the anticipated effects of a Reverse Stock Split on our shares available for issuance based on information as of April 28, 2025 (unless otherwise noted below) and without giving effect to the treatment of fractional shares. This chart is for illustrative purposes only.

| Status                       |     |    Number of 
    Shares of 
       Common 
        Stock 
   Authorized |     |   Number of 
   Shares of 
      Common 
       Stock 
  Issued and 
 Outstanding |     | Number of   
 Shares of   
 Common      
 Stock Held  
 In Treasury |     | Number of    
 Shares of    
 Common       
 Stock        
 Reserved for 
 Future       
 Issuance     |     | Number of    
 Shares of    
 Common       
 Stock        
 Authorized   
 but Unissued 
 and          
 Unreserved   |     | Number of    
 Shares of    
 Common       
 Stock        
 Reserved for 
 Issuance     
 Pursuant to  
 Outstanding  
 Equity       
 Awards       |     |      Weighted- 
        Average 
 Exercise Price 
 of Outstanding 
        Options |
| Pre-Reverse