Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 45

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 45
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 stockholder approval: (i) for equity compensation plans; and (ii) prior to the issuance of Common Stock, or of securities convertible into or exercisable for shares of Common Stock, in a transaction or series of related transactions to a director, officer or substantial security holder of the Company (each an “Active Related Party”) if the number of shares of Common Stock to be issued, or if the number of shares of Common Stock into which the securities may be convertible or exercisable, exceeds either 1% of the number of shares of Common Stock or voting power outstanding before the issuance. Subject to the satisfaction of both the performance- and service-based vesting conditions under the CCO Performance Plan, if at all, the number of shares of Common Stock that may be issuable to our Chief Commercial Officer may exceed the 1% threshold set forth in the NYSE Stockholder Approval Rules. However, the number of shares of Common Stock that may vest and become issuable, if any, to our Chief Commercial Officer will not be readily determinable until the first Determination Date following a Repayment Event and at each successive Determination Date thereafter through the Final Determination Date. By voting “For” this Proposal No. 5, you will be deemed to have also approved the CCO Performance Plan and the potential issuance of up to 15,000,000 shares of Common Stock thereunder, subject to the satisfaction of the applicable vesting conditions under such plan, if at all, for purposes of the NYSE Stockholder Approval Rules. The Company does not presently intend to seek any additional approval of the Company’s stockholders in connection with any vesting or issuance of shares of Common Stock under the CCO Performance Plan, if any, unless if at the time of vesting the number of shares of Common Stock that the Company is authorized to issue under the CCO Performance Plan is not sufficient to satisfy the number of shares of Common Stock issuable thereunder. Effect of a Vote “For” Proposal No. 5 By voting “For” this Proposal No. 5, you will be deemed to have: (i) approved the CCO Performance Plan as a standalone employee benefit plan; and (ii) authorized the Company to issue up to 15,000,000 shares of Common Stock to our Chief Commercial Officer, subject to the satisfaction of the applicable vesting conditions under such plan, if at all, in each instance for purposes of the NYSE Stockholder Approval Rules. Mr. Harvey, our Chief Commercial Officer, has