Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 42

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 42
---
(a)(15)(C). The Certificate
of Incorporation provides that no shares of our capital stock may be voted by or at the direction of Non-U.S. Citizens unless such shares
are registered on the Foreign Stock Record (as defined in the By-Laws). If the number of shares on the Foreign Stock Record exceeds 25%
(such shares in excess of 25%, the “Excess Shares”), each stockholder with capital stock registered on the Foreign Stock
Record will have their voting rights suspended on a pro rata basis such that the voting rights afforded to the capital stock registered
on the Foreign Stock Record is equal to 25% of the total voting power of our capital stock. The voting rights will be reinstated once
the voting rights of the capital stock registered on the Foreign Stock Record does not exceed 25% of the total voting power of our capital
stock, not taking into consideration the pro rata reduction.

Pursuant to the Investor
Rights Agreement, certain of our stockholders have agreed to limit the number of shares of Common Stock they are entitled to vote at
any meeting of the Company’s stockholders or for the purpose of consummating any consent solicitation (collectively, the “Voting
Limitations”), as follows:

| · | CK                                                                                           
 Wheels  cannot vote more than 24.9%, less the Whitebox Non-U.S. Voting Percentage (as        
 defined below) (if any), of the Company’s issued and outstanding shares as a result          
 of the Citizenship Limitation, and pursuant to the Certificate of Incorporation and Investor 
 Rights Agreement;                                                                            |

| · | each                                                                                               
 of Pandora Select Partners, L.P., Whitebox Multi-Strategy Partners, L.P. and Whitebox Relative     
 Value Partners, L.P. cannot vote more than 0.043%, 0.595% and 0.362% (collectively, the “Whitebox  
 Non-U.S. Voting Percentage”), respectively, of the Company’s issued and outstanding                
 shares as a result of the Citizenship Limitation, and pursuant to the Certificate of Incorporation 
 and Investor Rights Agreement (together with the voting limitation in the immediately preceding    
 bullet, the “Non-U.S. Investor Voting Limitations”); and                                           |

| · | any                                                                                          
 shares in excess of 29.9% of the Company’s issued and outstanding shares owned by Delta      
 will be neutral shares with respect to voting rights, voted in proportion to all other votes 
 cast (“for”, “