Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 134

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 134
---
 for life insurance premiums for policies. Amounts attributable to the foregoing items for our named executive officers are reflected in the “All other compensation” column of the Summary Compensation Table. |

| 70Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS EXECUTIVE COMPENSATION (continued) Allocation of Compensation The Compensation Committee exercises its judgment to allocate executive compensation among our four primary elements in order to provide the appropriate mix of fixed and “at-risk” compensation, and further align short- and long-term compensation to company and individual performance goals. The decision is informed and guided by market practice and compensation data, with the goal of maintaining a balance between fixed and “at-risk” compensation, as well as between short- and long-term incentives. In addition, the Compensation Committee also considers factors such as individual performance and internal pay equity when determining the allocation of compensation. The at-risk elements of compensation for 2024 are described in further detail under “ —Primary Elements of Compensation” above and under “ —Outstanding Long-Term Equity Incentive Awards” below with respect to long-term equity incentive compensation. Annual Review, Compensation Cycle & Timing of Grants of Certain Equity Awards The Company has historically completed its annual review and compensation cycle for all employees in the first quarter of each year upon approval of the Compensation Committee of go-forward base salary adjustments, annual cash bonuses under the Bonus Plan for the most recently completed fiscal year and equity incentive award grants to eligible employees, in each case including for our Chief Executive Officer and other named executive officers.The Compensation Committee also sets target performance metrics on an annual basis for certain PSUs during the Company’s annual review and compensation cycle. In certain circumstances, the Compensation Committee may approve grants to be effective at other times outside of the annual compensation cycle, including to new hires upon their start date and existing employees for promotions or retention purposes, as applicable. During 2024, the Compensation Committee did not take material nonpublic information into account when determining the timing and terms of equity incentive awards. Outstanding Long-Term Equity Incentive Awards Amended and Restated 2021 LTIP The Wheels Up Experience Inc. 2021 Long-Term Incentive Plan was originally adopted on January 31, 2021 and approved by the Aspirational shareholders prior to the closing of the Business Combination. We adopted the Amended and Restated 2021 LTIP effective April 1, 2023, which was subsequently approved by the Company’s stockholders at the