Surf Air Mobility Appoints New CFO, Approves Equity Plan
Ticker: SRFM · Form: 8-K · Filed: Aug 19, 2024 · CIK: 1936224
Sentiment: neutral
Topics: executive-appointment, equity-plan, management-change
TL;DR
Surf Air Mobility names new CFO, Robert J. W. Johnson, and approves new stock incentive plan.
AI Summary
Surf Air Mobility Inc. announced on August 16, 2024, that its Board of Directors has appointed Robert J. W. Johnson as Chief Financial Officer, effective immediately. Johnson previously served as Interim CFO and brings extensive financial leadership experience to the role. The company also reported that its Board of Directors has approved a new equity incentive plan.
Why It Matters
The appointment of a permanent CFO and the approval of an equity incentive plan are key steps in stabilizing leadership and aligning employee interests with company performance.
Risk Assessment
Risk Level: medium — Changes in key executive positions and the introduction of new equity plans can signal internal shifts that may impact future performance and strategic direction.
Key Players & Entities
- Surf Air Mobility Inc. (company) — Registrant
- Robert J. W. Johnson (person) — Chief Financial Officer
- August 16, 2024 (date) — Effective date of appointment and plan approval
FAQ
Who has been appointed as the new Chief Financial Officer of Surf Air Mobility Inc.?
Robert J. W. Johnson has been appointed as the new Chief Financial Officer of Surf Air Mobility Inc.
When was Robert J. W. Johnson's appointment as CFO effective?
Robert J. W. Johnson's appointment as CFO was effective August 16, 2024.
What other significant action did the Board of Directors take?
The Board of Directors also approved a new equity incentive plan.
What was Robert J. W. Johnson's previous role at Surf Air Mobility?
Robert J. W. Johnson previously served as Interim CFO.
What is the principal executive office address for Surf Air Mobility Inc.?
The principal executive offices are located at 12111 S. Crenshaw Blvd., Hawthorne, CA 90250.
Filing Stats: 996 words · 4 min read · ~3 pages · Grade level 12.1 · Accepted 2024-08-19 16:38:51
Key Financial Figures
- $0.0001 — h Registered: Common stock, par value $0.0001 per share SRFM New York Stock Excha
Filing Documents
- srfm-20240816.htm (8-K) — 57KB
- srfm-ex3_1.htm (EX-3.1) — 18KB
- 0000950170-24-098593.txt ( ) — 254KB
- srfm-20240816.xsd (EX-101.SCH) — 60KB
- srfm-20240816_htm.xml (XML) — 5KB
03 Material Modification to Rights of Security Holders
Item 3.03 Material Modification to Rights of Security Holders. On August 16, 2024, Surf Air Mobility Inc. (the "Company") filed an amendment to the amended and restated certificate of incorporation of the Company (the "Stock Split Amendment") with the Secretary of State of the State of Delaware to effect a reverse stock split of the Company's outstanding shares of common stock, par value $0.0001 per share (the "Common Stock"), at a ratio of 1-for-7 (the "Reverse Stock Split"). The shares of Common Stock listed on the New York Stock Exchange commenced trading on the New York Stock Exchange on a post-Reverse Stock Split adjusted basis at the open of business on August 19, 2024, at which time the Common Stock was represented by a new CUSIP number, 868927203. At the 2024 annual meeting of the Company's stockholders held on June 25, 2024, the Company's stockholders approved the adoption of an amendment to the Company's amended and restated certificate of incorporation, to effect a reverse stock split at a ratio of not less than 1-for-2 and not more than 1-for-10, such ratio and the implementation and timing of such reverse stock split to be determined in the discretion of the Board of Directors of the Company (the "Board") at any time prior to December 31, 2024 with no change to the number of authorized shares. On August 8, 2024, the Board approved the Reverse Stock Split. As a result of the Reverse Stock Split, the number of issued and outstanding shares of Common Stock immediately prior to the Reverse Stock Split was reduced to a smaller number of shares, such that every seven shares of Common Stock held by a stockholder immediately prior to the Reverse Stock Split were combined and reclassified into one share of Common Stock. Immediately following the Reverse Stock Split there were approximately 12,826,529 shares of Common Stock outstanding. No fractional shares were issued in connection with the Reverse Stock Split. Any fractional shares resulting from the Re
03 Amendments to Articles of Incorporation of Bylaws; Change in Fiscal Year
Item 5.03 Amendments to Articles of Incorporation of Bylaws; Change in Fiscal Year. The information set forth in Item 3.03 of this Current Report on Form 8-K is incorporated by reference into this Item 5.03.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Exhibit Title or Description 3.1 Certificate of Amendment to Amended and Restated Certificate of Incorporation 104 Cover Page Interactive Data File (embedded within the Inline XBRL)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. SURF AIR MOBILITY INC. Date: August 19, 2024 By: /s/ Deanna White Name: Deanna White Title: Interim Chief Executive Officer 2