Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 132

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 132
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 at all, on the Term Loan Maturity Date, and for which the performance- and service-based vesting conditions for the CCO Performance Plan were not met and no shares vested as of each of December 31, 2024 and the date of this Proxy Statement. See footnote 5 for details about the calculation of the grant-date fair value of the CCO Performance Plan in accordance with ASC 718 using a Monte Carlo simulation model. |

| (9) | Amounts for Mr. Briffa exclude any accrued but unpaid compensation under the Sales Incentive Award (as defined below) related to 2024 that will be paid after December 31, 2026, subject to Mr. Briffa’s continued service through such date. If the Charter Sales Adjusted EBITDA threshold (as defined below) goal is not met for a specific plan year, Mr. Briffa will not be entitled to receive any Sales Bonus (as defined below) attributable to such year. In addition, if the cumulative Charter Sales Adjusted EBITDA threshold for 2024-2026 is not achieved, any accrued but unpaid Sales Bonus will be forfeited. |

| (10) | Amount for Mr. Smith for 2024 represents a $200,000 discretionary retention bonus approved by the Compensation Committee in the first quarter of 2024, which was paid to Mr. Smith at the same time and in the same manner in March 2024 as his payment under the Bonus Plan for 2023. |

| (11) | Includes the grant date fair value of the Forfeited CFO Performance Plan. See footnote 5 above for details about the calculation of the grant-date fair value of the Forfeited CFO Performance Plan in accordance with ASC 718 using a Monte Carlo simulation model. No shares of Common Stock had vested or been issued or cash payments made to Mr. Smith under the Forfeited CFO Performance Plan prior to forfeiture of the award on September 6, 2024. |

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders69 |

TABLE OF CONTENTS

EXECUTIVE COMPENSATION (continued) Narrative Disclosure to Summary Compensation Table Primary Elements of Compensation The Compensation Committee determined that compensation of our named executive officers in 2024 would be comprised of the following compensation elements:

| • | Base Salary. Each named executive officer’s base salary is a fixed component of annual compensation for performing specific duties and functions and has been established by the Board considering each