Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 92

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 92
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 committee to oversee management of specific risks related to that committee’s primary functions. The Board has not established a separate risk committee or charged any specific committee with primary enterprise risk oversight responsibility, because the Board believes that Wheels Up’s most significant risks should be overseen by the full Board or, in certain cases, the appropriate standing committee. Each committee periodically reports to the Board on its risk assessments and risk management strategies to inform the Board’s overall oversight or enterprise risk management. We believe the division of risk management responsibilities described below is an effective approach for addressing the material risks that we face:

| • | Audit Committee: The Audit Committee primarily oversees risk management related to major financial risk exposures and the implementation of measures to monitor and control such exposures. The Audit Committee meets periodically with our independent auditors, legal counsel and management, to review and evaluate certain financial risks and oversee the design and implementation of controls and procedures to mitigate such risks where possible. The Audit Committee also oversees and reviews our cybersecurity and data privacy practices, including our policies, controls and procedures for identifying, managing and mitigating related risks. |

| • | Compensation Committee: The Compensation Committee primarily oversees risk management related to our compensation practices and employee benefit plans. The Compensation Committee also oversees the design of our director and executive officer compensation and perquisite practices. |

| • | Nominating and ESG Committee: The Nominating and ESG Committee primarily oversees risk management related to our governance practices, as well as ESG matters. We believe that identification, evaluation and mitigation of risks related to our governance practices and ESG matters are important to sustaining our long-term growth and achieving our operational and financial goals. |

| • | Safety and Security Committee: The Safety and Security Committee primarily oversees risk management related to our operations, including flight operations, safety and asset security. We are focused on maintaining and constantly strengthening a strong safety culture. We believe that the Safety and Security Committee’s active role in identifying, evaluating and recommending processes and measures to mitigate risks related to our operations is important to protect our assets, business, financial condition and reputation in the private aviation industry. |

The information received by each committee and reported to the Board is important to allowing the Board and management to continuously review, evaluate and develop our business strategy and enterprise risk management programs to reflect the appropriate level of risk.

| 50Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS CORPORATE GOVERNANCE (continued) The Role of Management in Enterprise Risk Management While the Board