Company: UP
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049230
Chunk: 160

Company: Wheels Up Experience Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 160
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,730)$(57,731)$(265,342)$(252,097)Denominator:Weighted-average shares of Common Stock outstanding - basic and diluted703,813,424 697,721,699 700,889,734 697,575,821 Basic and diluted net loss per share of Common Stock$(0.12)$(0.08)$(0.38)$(0.36)There were no dividends declared or paid during each of the three and nine months ended September 30, 2025 and 2024.Basic and diluted net loss per share were computed using the two-class method.  WUP profits interests held by members of MIP LLC are not subject to the net loss per share calculation until such time that vested WUP profits interests are actually exchanged for shares of Common Stock. The shares of Common Stock issuable under the Executive Performance Plans upon satisfaction of the performance- and service-based vesting conditions, if at all, are not subject to the net loss per share calculation until such time that such shares of Common Stock are actually issued to the applicable grantee. The exact number of shares of Common Stock that may be issued under the Executive Performance Plans will not be readily determinable until the first Determination Date following a Repayment Event and at each successive Determination Date thereafter through the Final Determination Date. 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 pursuant to any Executive Performance Plan (see Note 10). The following securities were not included in the computation of diluted shares outstanding, because the effect would be anti-dilutive, and issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:September 30,20252024Warrants(1)1,252,149 1,252,149 Earnout Shares900,000 900,000 RSUs and PSUs20,625,615 6,107,269 Stock options880,448 949,637 Total anti-dilutive securities23,658,212 9,209,055 __________________(1)    Each Warrant entitles the holder to purchase 1/10th of one share of Common Stock at a price of $115.00 per whole share of Common Stock. The number of shares of Common Stock listed in the table above for the Warrants reflects the