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Surf Air Mobility Announces Employee Inducement Awards Under NYSE Rule 303A.08

Business Wire

LOS ANGELES, October 02, 2026--Surf Air Mobility Inc. ("Surf Air Mobility" or the "Company") (NYSE: SRFM), a leading air mobility platform, today announced that it granted inducement awards to two new employees in reliance on the employment inducement exemption under the NYSE's Listed Company Manual Rule 303A.08. The Company is issuing this press release pursuant to the requirements of that rule.

On October 2, 2026, the Company granted awards to Jason Secore in connection with Mr. Secore's commencement of employment on September 30, 2026 as Chief Financial Officer, consisting of (i) 260,000 restricted stock units ("RSUs"), of which 25% vested immediately, and the remaining 75% will vest over three (3) years, (ii) 260,000 performance-based restricted stock units ("PRSUs"), with 25% vesting following approval of the achievement of performance targets and the remaining 75% will vest over three (3) years, and (iii) 270,000 PRSUs, with 100% vesting following approval of the achievement of performance targets.

In addition, on October 2, 2026, the Company granted awards to Barrett Brown in connection with Mr. Brown's commencement of employment on September 30, 2026 as President of SurfOS, consisting of (i) 1,000,000 PRSUs which vest if certain target annual recurring revenue ("ARR") levels for the SurfOS business between $30,000,000 and $50,000,000 are met, (ii) 500,000 PRSUs which vest upon achievement of financial and operational milestones and metrics for the SurfOS business and (iii) 1,000,000 PRSUs which vest upon achievement of certain milestones if the SurfOS business performance exceeds the ARR target of $50,000,000.

The awards were approved by the Compensation Committee of the Company's Board of Directors and were granted under the Surf Air Mobility 2026 Employment Inducement Incentive Award Plan as employment inducement awards pursuant to New York Stock Exchange Rule 303A.08. Achievement of performance milestones is subject to review by the Compensation Committee on a quarterly basis.

About Surf Air Mobility

Surf Air Mobility is a Los Angeles-based air mobility platform. With its AI-enabled SurfOS software, Surf Air Mobility provides technology designed to support the modernization of air operations and the adoption of next-generation aircraft. The Company currently operates one of the largest commuter airlines in the United States by scheduled departures and provides private charter services. Together, these businesses provide the operational scale and real-world operating data to validate and deploy its software. These capabilities position Surf Air Mobility as a leader shaping a more efficient, connected, and accessible future for aviation.

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