Company: SERV
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001832483-25-000010
Chunk: 21

Company: Serve Robotics Inc. /DE/
Filing Date: 2025-03-06
Form: 10-K
Item: Item 11
Chunk 21
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ger and were granted under the 2021 Stock Plan.

(2)All restricted shares listed above cover shares of our common stock following the closing of the Merger and were granted under the 2021 or 2023 Stock Plan. 

(3)This column represents the fair market value of a share of Serve common stock on the date of grant, as determined by the Serve board of directors.

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(4)This column represents the total value of the number of unvested restricted shares outstanding as of December 31, 2024, multiplied by $13.50, which is the per share value of Serve common stock as of December 31, 2024.

(5)The restricted shares are subject to a 4-year vesting schedule, with 25% of the shares vesting on February 18, 2022 and 1/48th of the shares vesting monthly over the remaining 36 month-period thereafter.

(6)The restricted shares are subject to a 4-year vesting schedule running from the date the Board retroactively determined that vesting should run regardless of Milestone achievement, with 1/48th of the shares vesting on July 15, 2022 and monthly thereafter.

(7)The restricted stock units vest as to 1/12th of the total number of shares on June 1, 2024, and an additional 1/12th of the total number of shares will vest on the same day of each month thereafter.

(8)The restricted stock units will vest as to 1/3rd of the total number of shares on September 5, 2025 and 1/36th of the total number of shares on the same day of each month thereafter.

(9)The restricted shares are subject to a 4-year vesting schedule, with 25% of the shares vesting on March 22, 2022 and 1/48th of the shares vesting monthly over the remaining 36 month-period thereafter.

(10)The restricted stock units are subject to a 4-year vesting schedule, with 25% of the shares vesting on April 29, 2025 and 1/48th of the shares vesting monthly over the remaining 36 month-period thereafter.

(11)The options are subject to a 4-year vesting schedule, with 1/48th of the option shares vesting on July 1, 2023 and monthly thereafter.

Executive Compensation