Serve Robotics (SERV) CFO Brian Read Sells Shares

What Happened

• Brian Read, Chief Financial Officer of Serve Robotics (SERV), disposed of a total of 41,069 shares across three open-market sales tied to RSU settlement tax withholding. The transactions were: 25,240 shares at $5.24 on 2026-08-17 ($132,258); 6,129 shares at $4.56 on 2026-08-18 ($27,948); and 9,700 shares at $4.80 on 2026-08-19 ($46,560). Total proceeds ≈ $206,766. These were sales (not purchases), executed to meet tax withholding obligations related to vested restricted stock units.

Key Details

• Transaction dates & prices:
  • 2026-08-17: 25,240 shares @ $5.24 — $132,258
  • 2026-08-18: 6,129 shares @ $4.56 — $27,948
  • 2026-08-19: 9,700 shares @ $4.80 — $46,560
• Total shares sold: 41,069; total proceeds ≈ $206,766.
• Shares owned after the transactions: not specified in the provided filing details.
• Footnote: F1 — these shares were sold to satisfy tax withholding obligations arising from the settlement of vested RSUs.
• Filing: Report filed 2026-08-19 for transactions beginning 2026-08-17; appears to be within the normal Form 4 reporting window (timely).

Context

• Sales to cover tax withholding on vested RSUs are common and generally routine (do not necessarily signal management sentiment about the company's prospects). This was not a purchase or an option-exercise-then-sell (cashless exercise) transaction; it was a disposal tied to withholding.