Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 67

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 67
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 Amended and Restated Certificate of Incorporation is not sufficient to satisfy the number of shares of Common Stock issuable to our Chief Financial Officer upon the satisfaction of both the performance- and service-based vesting conditions under the CFO Performance Plan, we may either (i) seek further approval of the Company’s stockholders to increase the number of shares of Common Stock authorized for issuance under the CFO Performance Plan or Amended and Restated Certificate of Incorporation, as applicable, that we then believe are necessary to satisfy our obligation to issue shares of Common Stock under the CFO Performance Plan, or (ii) satisfy our obligations under the CFO Performance Plan by paying cash to our Chief Financial Officer. Any further approval of the Company’s stockholders would require us to comply with the applicable provisions of our Organizational Documents, the Delaware General Corporation Law, and the applicable rules of the SEC, NYSE or other applicable national securities exchange or inter-dealer quotation system on which our Common Stock is then listed. If at the Annual Meeting, the Company’s stockholders approve the CFO Performance Plan and authorize the Company to issue up to 12,000,000 shares of Common Stock thereunder, subject to the satisfaction of the applicable vesting conditions under such plan, if at all, the Company presently intends to ensure that enough shares of Common Stock remain reserved and available for issuance under the Amended and Restated Certificate of Incorporation to complete any issuance of shares of Common Stock pursuant to the CFO Performance Plan, together with the issuance of any other shares of Common Stock that the Company may be obligated to reserve for future issuance under the terms of any applicable equity incentive plan, warrants or other securities that are convertible or exchangeable into or exercisable for shares of Common Stock, or pursuant to any other agreement to which the Company or its subsidiaries is a party.

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders35 |

TABLE OF CONTENTS

Summary of the CFO Performance Plan (continued) Although the terms of the Amended and Restated 2021 LTIP incorporated into the CFO Performance Plan specify conditions under which unvested shares under the CFO Performance Plan may become available for later grant or issuance, it is the Company’s present intention that if the CFO Performance Plan is forfeited, expires or otherwise terminates, in whole or in part, without having vested, no unvested shares of Common Stock will be issued to our Chief Financial Officer under the CFO Performance Plan and such unvested shares will not become available for later grant or issuance