Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 115

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 115
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ments following the annual meeting of stockholders each year. Retainers for the Chairperson of the Board and each Board Committee Chair, to the extent such director is an Eligible Director, are in addition to the annual retainer for Board membership. No additional compensation will be paid for attending individual committee meetings of the Board. Unless otherwise determined by the Board, any cash retainers will be prorated for any partial year of service.

|                                                                              |     |            Additional 
 Annual Cash Retainers |
| Chairperson of the Board and/or Lead Independent Director (if applicable)    |     |               $35,000 |
| Chairperson of the Audit Committee                                           |     |               $15,000 |
| Chairperson of the Compensation Committee, Nominating and ESG Committee, and 
 Safety and Security Committee Chair                                          |     |               $10,000 |

Equity Awards Each Eligible Director is eligible to receive an annual award of RSUs having an aggregate fair market value (as determined in accordance with the Amended and Restated 2021 LTIP) of $175,000 as of the grant date. RSUs granted to our directors generally vest in full by the date of the next annual meeting of stockholders. The Board, in its discretion, may approve a grant of RSUs for any newly appointed Eligible Director, which grant will be prorated for any partial year of service. The Company and the Board elected to forego grants of equity incentive awards during 2023, but in January 2024, the Board approved cumulative “catch-up” grants of RSUs to each of Messrs. Adelman, Armstrong and Moak in connection with their service as directors during the 2023-2024 Board service year, which vested in full as of the Company’s 2024 annual meeting of stockholders. Flight Hours Each Eligible Director will be entitled to annual flight hours having a total value equal to $84,400, which is intended to be equivalent to 25 flight hours on a King Air 350i aircraft. If an Eligible Director flies on a different cabin class, the total value of the flight hours available for future use is reduced by the applicable hourly rate for the cabin class actually flown. To the extent such director is an Eligible Director, five additional flight hours will also be awarded to the Chairperson of the Board and to each Board Committee Chair. Flight hours have historically been deposited on an annual basis and the annual period for grants of flight hours commences on the date of