Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 80

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 80
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. In such case, the NYSE will immediately begin suspension and delisting procedures. If the Reverse Stock Split is implemented, this listing rule could make it more difficult for us to maintain our listing with the NYSE or could have the effect of causing the Board to choose a higher split ratio in the event our stock price falls below the NYSE minimum price in the future. Implementation of the Reverse Stock Split Amendment Assuming that stockholder approval of the Reverse Stock Split Amendment is obtained at the Annual Meeting, the Board retains the discretion to effect, or not to effect, the Reverse Stock Split and the Authorized Share Reduction at any time prior to the 2026 Annual Meeting Date. The Company will not effect the Reverse Stock Split without also effecting the Authorized Share Reduction, and vice versa. The Reverse Stock Split and Authorized Share Reduction would be implemented by filing the Reverse Stock Split Amendment with the Delaware Secretary of State, which would be effective immediately upon filing or at such time as the Company may specify at the time of filing (the “Effective Time”). If the Board, in its discretion, decides not to effect the Reverse Stock Split and Authorized Share Reduction prior to the 2026 Annual Meeting Date, the Reverse Stock Split Amendment will be abandoned and may not be effected without further stockholder approval. If our stockholders approve the Reverse Stock Split Amendment at the Annual Meeting, no further action on the part of stockholders will be required for the Board, in its discretion, to either implement or abandon the Reverse Stock Split or the Authorized Share Reduction within the parameters set forth in this Proposal No. 7. By voting in favor of the approval of the Reverse Stock Split Amendment, each stockholder is expressly authorizing the Board, in its discretion, to decide not to proceed with, and to abandon, the Reverse Stock Split Amendment if it should so decide. Continued SEC Reporting Requirements and NYSE Stock Listing After the Effective Time, Wheels Up would continue to be subject to periodic reporting and other requirements under the Exchange Act, our Common Stock would continue to be listed on the NYSE under the symbol “UP” and subject to the NYSE listing rules. New CUSIP Number After the Effective Time, the post-Reverse Stock Split shares of Common Stock would have a new CUSIP number, which is a number used to identify the Company’s equity securities. Stock certificates issued before the Reverse Stock Split will reflect the older CUSIP number and should be returned to the Transfer Agent by following the procedures described below under “ —Implementation of the Reverse Stock Split—Effect