Serve Robotics Inc. filed SEC Form 8-K: Leadership Update, Other Events, Financial Statements and Exhibits
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 4, 2024, Serve Robotics Inc. (the “Company”) appointed Lily Sarafan to the Company’s Board of Directors (the “Board”) effective December 4, 2024. Ms. Sarafan was additionally appointed to serve on the Audit Committee and the Compensation Committee of the Board. There are no arrangements or understanding between Ms. Sarafan and any other persons pursuant to which she was selected as a director, and there are no transactions reportable under Item 404(a) of Regulation S-K in which Ms. Sarafan has a direct or indirect material interest. She will be entitled to receive the standard cash paid to all directors as described in the Company’s Outside Director Compensation Policy which is attached as Exhibit 10.33 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and 20,000 restricted stock units vesting in full on the earlier to occur of (i) the Company’s next annual stockholder meeting or (ii) December 4, 2025. Ms. Sarafan was appointed to the Board to replace Mr. Jordan as a Class II Director of the Company following notice of his intent to resign (as further detailed below) and is subject to re-election at the Company's 2025 annual stockholder meeting.
On December 4, 2024, James Buckly Jordan announced his intention to resign as a director of the Board, effective immediately. Mr. Jordan’s decision was not based on any disagreement with the Company or management. The Company would like to thank Mr. Jordan for his dedicated service to the Company.
Item 8.01. Other Events.
On December 9, 2024, the Company issued a press release regarding the appointment of Ms. Sarafan to the Board. A copy of the press release is attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits. The following exhibits are included in this report:
| No. | Description | |
| 99.1 | Press Release issued on December 9, 2024 | |
| 104 | Cover Page Interactive Data File (formatted in iXBRL) |
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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.
| Serve Robotics Inc. | |
| Dated: December 9, 2024 | /s/ Brian Read |
| Brian Read | |
| Chief Financial Officer |
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