Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 156

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 156
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 period. Pursuant to Instruction 3 to Item 402(p)(2) of Regulation S-K, the number of unvested PSUs reported in the table above that were granted on February 23, 2023 and are based on the achievement of pre-determined Relative TSR thresholds reflects the number of unvested PSUs based on the achievement of threshold performance goals (50%) for all periods, because the Compensation Committee determined in the first quarters of each of 2024 and 2025 that performance in each of 2023 and the two-year cumulative performance in 2023 and 2024 was less than the applicable threshold performance goal. |

| (11) | Represents the unvested portion of RSUs granted to Mr. Briffa on February 23, 2023 under the Amended and Restated 2021 LTIP, of which 50% of the RSUs vested on February 23, 2025 and the remaining 50% of RSUs are scheduled to vest on February 23, 2026, subject to continued service through each such vesting date. |

| (12) | Represents the unvested portion of RSUs granted to Mr. Briffa on September 9, 2022 under the Amended and Restated 2021 LTIP, which RSUs are scheduled to vest on September 9, 2025, subject to continued service through such vesting date. |

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders81 |

TABLE OF CONTENTS EXECUTIVE COMPENSATION (continued) Pension Benefits and Nonqualified Deferred Compensation During the year ended December 31, 2024, we did not have, and we do not currently intend to adopt, any plans or programs for our directors or named executive officers that provide for pension benefits, nonqualified defined contribution and other nonqualified deferred compensation plans. Potential Payments Upon Termination or Change of Control This section describes the potential benefits our named executive officers may receive under certain termination of employment scenarios, including in connection with a change in control, assuming termination of employment effective December 31, 2024. The benefits that our named executive officers may receive under termination of employment scenarios would be payable pursuant to (a) the terms of employment agreements or offer letters with each of our named executive officers, (b) the terms of compensation plans applicable to all participating employees and award agreements thereunder and/or (c) the Severance Guidelines (as defined below). Potential