Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 133

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 133
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 individual’s role, responsibilities, skills and experience. The Compensation Committee reviews and sets base salaries for our named executive officers as part of our annual compensation review process that occurs in the first quarter of each year. These base salaries have historically been based on the base salary set forth in the named executive officer’s employment agreement or offer letter, provided that the Compensation Committee considers adjustments in its discretion, including for certain named executive officers in 2024. When hiring new executive officers during 2024, the Compensation Committee considered, among other things, internal pay parity, peer compensation and the specific experience and skills of such new executive officers. |

| • | Long-Term Equity Incentives. The Wheels Up equity incentive program is a type of “at-risk,” long-term compensation to motivate our named executive officers to make important contributions to the performance of Wheels Up and align their long-term pay outcomes with the interests of the Company’s stockholders. Under the Amended and Restated 2021 LTIP and Executive Performance Plans, the named executive officers are entitled to receive equity incentive awards in accordance with the terms and conditions of the applicable plan. During 2024, all long-term equity incentive awards in the form of RSUs and PSUs to our named executive officers were granted under the Amended and Restated 2021 LTIP. In November 2023, March 2024, April 2024 and March 2025, the Compensation Committee approved the CEO Performance Plan, Forfeited CFO Performance Plan, CCO Performance Plan and CFO Performance Plan, respectively. Any such equity grants made to our named executive officers in 2024 or 2023 are reflected in the “Stock awards” column of the Summary Compensation Table. |

| • | Perquisites & Other Benefits. Our named executive officers and key employees are eligible to participate in the Wheels Up employee benefit plans provided for other employees, such as a 401(k) plan with matching for all employees, group life insurance, group health insurance and short- and long-term disability insurance. Wheels Up does not have a defined benefit retirement plan. Certain named executive officers are eligible to receive certain other perquisites and benefits from time to time, including use of our aircraft as described under“—Perquisites and Other Benefits—Aircraft Use” below. From time to time, the Compensation Committee may approve the payment of certain other benefits for our named executive officers in addition to those generally provided to all employees, such as payment for commuting expenses, housing allowances, relocation assistance and payments of or reimbursements