Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 47

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 47
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 A VOTE FORAPPROVAL OF THE CCO PERFORMANCE PLAN.

| 24Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS Summary of the CCO Performance Plan Summary of Provisions in the CCO Performance Plan We are requesting that the Company’s stockholders approve the CCO Performance Plan and authorize the Company to issue up to 15,000,000 shares of Common Stock thereunder, subject to the satisfaction of the applicable vesting conditions under such plan, if at all. Except as set forth in Section III.A of the Amended and Restated 2021 LTIP, the CCO Performance Plan incorporates the terms of the existing Amended and Restated 2021 LTIP, as it may be amended from time to time. The CCO Performance Plan is intended to constitute a standalone employee benefit plan and any shares of Common Stock issued under the CCO Performance Plan will not be issued under, or count against the number of shares of Common Stock reserved pursuant to, any of the Company’s other equity incentive plans or awards. While certain of the provisions described below are similar to the Amended and Restated 2021 LTIP, there are certain differences with respect to, among other things, termination of service scenarios, treatment upon a “Change of Control” (as defined under “— Change of Control Provisions” below), and the potential settlement by a payment in cash if the CCO Performance Plan is not approved by the Company’s stockholders or if on any Determination Date, there is not otherwise a sufficient number of shares of Common Stock authorized for issuance upon vesting to deliver the number of shares due under the plan. Additional descriptions of these items are contained in Proposal No. 5 above, as well as where applicable in the following summary of the CCO Performance Plan, considering the changes to the terms of the Amended and Restated 2021 LTIP set forth in the LTIP Amendment, as applicable. A copy of the CCO Performance Plan is included as Appendix B to this Proxy Statement. The summaries set forth herein are qualified in their entirety by reference to the full text of the CCO Performance Plan. Administration of the CCO Performance Plan The CCO Performance Plan may be administered by the Administrator. The Administrator has exclusive authority to make all interpretations and determinations affecting the CCO Performance Plan. The CCO Performance Plan does not obligate the Company to issue any future grants to our Chief Commercial Officer. Eligible Participants The CCO