Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 79

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 79
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 (without interest, and subject to any required tax withholding applicable to a holder) in lieu of such fractional shares. The Board, in its discretion, may determine the cash amount payable in respect of such fractional shares would be equal to either:

| • | the closing trading price per share of our Common Stock as reported on the NYSE on the trading day immediately preceding the date that the Reverse Stock Split Amendment becomes effective, as adjusted by the Reverse Stock Split ratio,multiplied bythe applicable fraction of a share; or |

| • | such stockholder’s proportionate interest in the proceeds, net of selling costs not paid and satisfied by Wheels Up, from the aggregation and sale of the fractional shares by the Transfer Agent. |

Regardless of the fractional shares option adopted by the Board, if at all, stockholders would not be entitled to receive interest for the period of time between the Effective Time (as defined below) and the date payment is received. If the Board, in its discretion, determines to do so, the Transfer Agent would aggregate such fractional shares into whole shares and sell the whole shares in the open market at prevailing trading prices. The Transfer Agent would then distribute the cash proceeds of the sale pro ratato the stockholders otherwise entitled to receive a fractional share. The Transfer Agent would, in its discretion and without any influence by the Company, determine when, how, through which broker-dealers and at what price to sell any aggregated fractional shares. Certain Risks and Potential Disadvantages Associated with the Reverse Stock Split and the Authorized Share Reduction The Board considered all of the following factors and determined that seeking stockholder approval for the Reverse Stock Split Amendment is in the best interests of the Company and its stockholders. As noted below, even if stockholders approve the Reverse Stock Split Amendment, the Board, in its discretion, reserves the right to choose the timing of implementation of any Reverse Stock Split Amendment prior to the 2026 Annual Meeting Date or not to effect the Reverse Stock Split Amendment at all if the Board, in its discretion, does not deem it to be in the best interests of the Company or its stockholders at the time. Stockholders should recognize that, if the Reverse Stock Split is effected, they would own fewer shares of Common Stock than they currently own. Except for minor adjustments that may result from the treatment of fractional shares as described above, the Reverse Stock Split would not have any substantial dilutive effect on our stockholders since each stockholder would hold the same percentage of Common Stock outstanding immediately following the Reverse Stock Split as such