Surf Air Mobility director Tyler Painter sells $92,825 in stock

In recent activity involving Surf Air Mobility Inc. (NYSE:SRFM), Director Tyler Painter executed a significant stock transaction amid challenging times for the company. According to InvestingPro data, SRFM’s stock has declined over 10% in the past week and currently trades at $3.33, with a market capitalization of approximately $59 million. According to a recent SEC filing, Painter sold 25,417 shares of common stock on March 26, 2025. The shares, held by the Tyler and Sonia Painter 2020 Trust, were sold at a weighted average price of $3.6521 per share, totaling approximately $92,825.

Following this transaction, Painter holds 14,966 shares directly, reflecting adjustments from a 1-for-7 reverse stock split that took effect in August 2024. The sales were conducted under a pre-established Rule 10b5-1 trading plan adopted in December 2024.

In other recent news, Surf Air Mobility Inc. reported its fourth-quarter 2024 earnings with a 5% revenue increase to $28.05 million, which did not meet the $38.75 million forecast by analysts. The company noted an improvement in its adjusted EBITDA loss by 63%, highlighting efforts towards better cost management. For the full year 2024, revenue rose by 6% to $119.4 million, and the company continues to focus on achieving profitability in its airline operations by 2025. In a separate development, Surf Air Mobility issued 244,011 shares of common stock to Palantir Technologies Inc (NASDAQ:PLTR). for services valued at approximately $0.9 million, reflecting a strategic financial management approach. The shares were issued under an exemption from securities registration, allowing the company to avoid a formal registration statement. This transaction underscores a trend of companies using stock as currency for acquiring services, potentially conserving cash resources. These developments are part of Surf Air Mobility’s ongoing transformation and optimization efforts, which include the launch of its new SURF OS software platform aimed at enhancing operational efficiency.

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