Patricia Acquisition Corp.

12/09/2024 | Press release | Distributed by Public on 12/09/2024 17:06

Statement of Changes in Beneficial Ownership (Form 4)

Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Parang Touraj
2. Issuer Name and Ticker or Trading Symbol
Serve Robotics Inc. /DE/ [SERV] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & COO
(Last) (First) (Middle)
C/O SERVE ROBOTICS INC., 730 BROADWAY 		3. Date of Earliest Transaction (Month/Day/Year)
12/05/2024
(Street)
REDWOOD CITY, CA 94063 		4. If Amendment, Date Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) 		7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/05/2024 S 815(1) D $9.5525(2) 1,200,141 D
Common Stock 12/06/2024 M 11,403 A $0.8588 1,211,544 D
Common Stock 12/06/2024 M 2,993 A $0.8588 1,214,537 D
Common Stock 12/06/2024 S 1,098(3) D $11.33 1,213,439 D
Common Stock 12/09/2024 S 4,527(1)(4) D $12.2711(5) 1,208,912 D
Common Stock 12/09/2024 S 45,473(1)(4) D $13.0629(6) 1,163,439 D
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5) 		6. Date Exercisable and Expiration Date
(Month/Day/Year) 		7. Title and Amount of Underlying Securities
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4) 		10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4) 		11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to buy) $0.8588 12/06/2024 M 11,403 (7) 06/06/2033 Common Stock 11,403 $ 0 0 D
Stock Option (right to buy) $0.8588 12/06/2024 M 2,993 (8) 06/06/2033 Common Stock 2,993 $ 0 5,458 D

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Parang Touraj
C/O SERVE ROBOTICS INC.
730 BROADWAY
REDWOOD CITY, CA 94063 		X President & COO

Signatures

/s/ Ali Kashani, as Attorney-in-Fact for Touraj Parang 12/09/2024
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents shares of the Issuer's common stock sold to satisfy tax withholding obligations relating to the acquisition of shares of the Issuer's common stock in connection with the settlement of the vested portion of RSUs. Such sale was executed pursuant to provisions of a restricted stock unit agreement by and between the Issuer and the Reporting Person.
(2) The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $9.55 to $9.56, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(3) Represents shares of the Issuer's common stock sold to satisfy tax withholding obligations relating to the acquisition of shares of the Issuer's common stock incurred upon the above-reported exercise of options.
(4) Sale effected pursuant to a Rule 10b5-1 sales plan, adopted by the Reporting Person on September 9, 2024.
(5) The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $11.70 to $12.61, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(6) The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $12.75 to $13.17, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(7) The shares are fully vested.
(8) The stock option vested as to 1/48 of the total number of shares on July 1, 2023, and an additional 1/48 of the total number of shares will vest on each monthly anniversary thereafter, until such time as the stock option is 100% vested, subject to the continuing employment of the Reporting Person on each vesting date.
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.