Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 44

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 44
---
 with two (2) of such directors designated to serve  
 as Class III directors and the others designated to serve as Class I directors; |

| · | one                                                                
 (1) designee of Cox Investment Holdings LLC (“CIH”), designated to 
 serve as a Class II director;                                      |

| · | the                                                                            
 Company’s Chief Executive Officer, designated to serve as a Class II director; |

| · | Tim                                                        
 Armstrong, designated to serve as a Class II director; and |

| · | David                                                
 Adelman, designated to serve as a Class II director. |

Upon Mr. Adelman’s
resignation from the Board in August 2024, Gregory Summe was appointed to the Board to fill the vacancy created upon Mr. Adelman’s
resignation.

The rights of Delta, CK Wheels
and CIH to designate directors may diminish or be forfeited in the event such entity or its affiliates or permitted transferees ceases
to hold a given percentage (i.e., 30%, 50% or 75%) of the number of shares issued to such Investor pursuant to the Investor Rights
Agreement.

Removal of Directors

Subject to the issuance
of any of Wheels Up preferred stock, the Board or any individual director may be removed from office at any time, but only for cause
and only by the affirmative vote of the holders of at least two-thirds of the voting power of all of the then outstanding shares of Wheels
Up’s voting stock entitled to vote at an election of directors, voting together as a single class.

Pursuant to the Investor
Rights Agreement and subject to the Organizational Documents, each of Delta, CK Wheels and CIH have the exclusive right to remove its
nominees from the Board and designate directors for election or appointment, as applicable, to the Board in accordance with such Investor’s
rights to fill vacancies created by reason of death, removal or resignation of its nominees to the Board.

Delaware Anti-Takeover Statute

Section 203 of the
DGCL provides that if a person acquires 15% or more of the voting stock of a Delaware corporation, such person becomes an “interested
stockholder” and may not engage in certain “business combinations” with such corporation for a period of three years
from the time such person acquired 15% or more of such corporation’s voting stock, unless: (i) the board of directors of such
corporation approves the acquisition of stock or the merger transaction