Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 64

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 64
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 of Common Stock is required under the CFO Performance Plan, then the value of the shares of Common Stock that would otherwise be issuable under the CFO Performance Plan as of such Determination Date will be satisfied by a cash payment. There can be no assurance that both the performance- and service-based vesting conditions will be satisfied or that the foregoing variables will result in the vesting and issuance of any shares of Common Stock or cash payments pursuant to the CFO Performance Plan. See Exhibit A to the CFO Performance Plan included as Appendix C to this Proxy Statement for more information about the vesting and settlement terms for such award, including the variables used in the calculation of the number of shares of Common Stock issuable or total value payable to our Chief Financial Officer if both the performance- and service-based vesting conditions are satisfied.

| 34Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS Summary of the CFO Performance Plan (continued) Number of Shares Available for Issuance We are requesting that the Company’s stockholders approve the CFO Performance Plan as a standalone employee benefit plan, and authorize the Company to issue up to 12,000,000 shares of Common Stock thereunder, subject to the satisfaction of the applicable vesting conditions under such plan, if at all. The CFO Performance Plan provides that the delivery of any shares of Common Stock thereunder is subject to approval of such plan and a sufficient number of shares of Common Stock to be issued by the Company’s stockholders. The CFO Performance Plan also provides that if such plan is not approved by the Company’s stockholders or on any Determination Date there is not otherwise a sufficient number of shares of Common Stock approved by the Company’s stockholders in order to deliver the number of shares of Common Stock due under the plan, the Company will pay in cash an amount equal to the value of the shares of Common Stock that would have otherwise been delivered to our Chief Financial Officer thereunder. None of the 12,000,000 shares of Common Stock that we are requesting the Company’s stockholders authorize the Company to issue under the CFO Performance Plan will be issued to our Chief Financial Officer unless (i) both the performance- and service-based vesting conditions have been satisfied, and (ii) the other variables that determine the amount payable to our Chief Financial Officer are sufficiently high to support any issuance of shares or cash payment under such award. In determining the number of shares of Common Stock to reserve for future issuance under the CFO Performance Plan, we