Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 73

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 73
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 an increase in the trading price per share of our Common Stock will encourage institutional and retail interest and trading in our Common Stock and possibly increase the number of investment analysts that provide research reports on the Company and our Common Stock. In addition, the Board recognizes that brokerage commissions, as a percentage of total transaction value, tend to be relatively higher for lower-priced stocks. As a result, certain stockholders and investors may also be dissuaded from purchasing lower-priced stocks due to anticipated transaction costs. It is possible that an increase in the trading price per share of our Common Stock anticipated after the Reverse Stock Split may reduce this concern among stockholders and investors, which may result in an increase in the marketability and liquidity of our Common Stock. Authorized Share Reduction Delaware law does not require a reduction in the total number of authorized shares of Common Stock contemporaneously with the implementation of the Reverse Stock Split. However, if this Proposal No. 7 is approved by our stockholders at the Annual Meeting and the Board, in its discretion, subsequently decides to effect the Reverse Stock Split, the authorized number of shares of Common Stock also would be reduced proportionately pursuant to the Reverse Stock Split Ratio. The Board believes that after the Authorized Share Reduction, the number of shares of Common Stock available for future issuance will be sufficient for current anticipated future needs.

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders39 |

TABLE OF CONTENTS

PROPOSAL NO. 7—REVERSE STOCK SPLIT AND AUTHORIZED SHARE REDUCTION (continued) Implementation of the Reverse Stock Split Criteria to be Used for Determining the Reverse Stock Split Ratio If approved by our stockholders at the Annual Meeting and the Board, in its discretion, subsequently decides to effect the Reverse Stock Split, in its discretion, the Reverse Stock Split Ratio will be a ratio of not less than 1-for-5 and not greater than 1-for-20, with the exact Reverse Stock Split Ratio within such Ratio Range as may be determined by the Board at a later date. The Board believes that stockholder approval of the Ratio Range versus a single ratio or a set of fixed ratios, provides flexibility to achieve the purposes of a Reverse Stock Split in light of the factors and information available to the Board at the time the Reverse Stock Split is effected. If approved by our stockholders at the Annual Meeting, the Board, in its discretion, may determine the exact Reverse Stock Split Ratio by considering, among other things, factors such as:

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