Company: SRFM
Filing Date: 2025-05-02
Form Type: PRE 14A
Source: 0001140361-25-017136
Chunk: 51

Company: SURF AIR MOBILITY INC.
Filing Date: 2025-05-02
Form: PRE 14A
Chunk 51
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 the Plan; (vii) adjust the number of shares of common stock subject to any award, adjust the price of any or all outstanding awards or otherwise waive or change previously imposed terms and conditions, in such circumstances as the Administrator may deem appropriate, in each case subject to the applicable terms and conditions of the Plan (and subject to the Plan’s no repricing provision); (viii) determine the date of grant of an award, which may be a designated date after but not before the date of the Administrator’s action to approve the award; (ix) determine whether, and the extent to which, adjustments are required pursuant to the terms and conditions of the Plan and take any other actions contemplated by the terms and conditions of the Plan in connection with the occurrence of certain changes in the Company’s capitalization; (x) acquire or settle rights under awards in cash, stock of equivalent value, or other consideration (subject to the no repricing provision of the Plan); and (xi) determine the fair market value of the common stock or awards under the Plan from time to time and/or the manner in which such value will be determined. All determinations or other actions made by the Administrator will be within the absolute discretion of the Administrator and are conclusive and binding on all persons. Eligible Participants Awards may be granted to directors, officers, employees, consultants, and advisors of the Company and its subsidiaries. As of April 28, 2025, approximately 660 employees (including 14 officers), 6 non-employee directors, and 80 consultants and advisors were eligible to participate in the Plan. Options intending to qualify as “incentive stock options” within the meaning of Section 422 of the Code may only be granted to employees of the Company or its subsidiaries. Available Shares Subject to adjustment for certain dilutive or related events, an additional 3,500,000 shares of common stock will be authorized for issuance under the Plan such that the aggregate maximum number of shares of common stock that may be issued pursuant to stock awards under the Plan, or the Share Limit, is 7,033,473 shares of common stock plus any shares of common stock subject to outstanding awards under the 2016 Plan as of July 27, 2023 that, after such date, are not paid, delivered or exercised before they expire or are canceled or terminated. The Share Limit will automatically increase on the first trading day in January of each calendar year during the term of the Plan, with the first such increase to occur in January 202