Surf Air Mobility (NYSE:SRFM) shareholders approved all three proposals presented at the company’s 2026 annual meeting, including the election of two Class C directors, the ratification of PricewaterhouseCoopers LLP as auditor, and authorization for a reverse stock split at a ratio between 2-for-1 and 6-for-1.
Chief Executive Officer Deanna White also announced changes to the company’s board leadership. Carl Albert retired from the board effective July 24 and will transition to the role of Chairman Emeritus, serving as an advisor to the company. Shawn Pelsinger was elected chairman of the board effective the same day, following Albert’s nomination.
Director Elections and Auditor Ratification
During the formal portion of the virtual meeting, General Counsel Douglas Sugimoto said stockholders were asked to vote on three proposals. The first called for the election of Tyler Painter and Sudhin Shahani as Class C members of the board, each for a three-year term.
Heather Obi of The Carideo Group, serving as Inspector of Elections, reported that both board nominees were elected by a plurality of votes cast. Sugimoto said the company had received no other nominations for director positions.
Shareholders also approved the ratification of PricewaterhouseCoopers LLP as Surf Air’s independent registered public accounting firm for the 2026 fiscal year. The proposal was approved by holders of at least a majority of the company’s common shares represented at the meeting, either in person or by proxy, according to the preliminary results.
Reverse Stock Split Authorized
The third approved proposal authorizes an amendment to Surf Air’s amended and restated certificate of incorporation to implement a reverse stock split of its common stock. The authorized ratio may range from 2-for-1 to 6-for-1, inclusive.
Obi said the proposal received the affirmative vote of holders of at least a majority of the common shares represented at the meeting. The meeting transcript did not specify the ratio the company may ultimately select or provide a timeline for implementing the split.
- Shareholders elected Tyler Painter and Sudhin Shahani as Class C directors for three-year terms.
- Shareholders ratified PricewaterhouseCoopers LLP as the company’s independent auditor for fiscal 2026.
- Shareholders approved a potential reverse stock split at a ratio ranging from 2-for-1 to 6-for-1.
Sugimoto said a final report from the Inspector of Elections will be included with the meeting minutes. Surf Air also expects to disclose final voting results on its investor relations website and in a Current Report on Form 8-K within four business days of the meeting.
About Surf Air Mobility (NYSE:SRFM)
Surf Air Mobility Inc operates as an electric aviation and air travel company in the United States. The company offers an air mobility platform with scheduled routes and on demand charter flights operated by third parties. Surf Air Mobility Inc is headquartered in Hawthorne, California.
