Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 52

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 52
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 Company’s stockholders are being asked to authorize the Company to issue under the CCO Performance Plan approximates the maximum number of shares of Common Stock, as calculated in consultation with our independent compensation consultant, that may be issuable under the plan upon the satisfaction of both the performance- and service-based vesting conditions, if at all, it is possible that future events, including future dilutive issuances of shares of Common Stock or other instruments or securities exchangeable or exercisable for, or convertible into, shares of Common Stock in public offerings or private placements, a sustained decline in the trading price per share of our Common Stock or a significant modification to the terms of the Term Loan, could result in an insufficient number of shares of Common Stock being authorized for issuance under the CCO Performance Plan. If the number of shares of Common Stock that the Company is authorized to issue under the CCO Performance Plan or the Amended and Restated Certificate of Incorporation is not sufficient to satisfy the number of shares of Common Stock issuable to our Chief Commercial Officer upon the satisfaction of both the performance- and service-based vesting conditions under the CCO Performance Plan, we may either (i) seek further approval of the Company’s stockholders to increase the number of shares of Common Stock authorized for issuance under the CCO Performance Plan or Amended and Restated Certificate of Incorporation, as applicable, that we then believe are necessary to satisfy our obligation to issue shares of Common Stock under the CCO Performance Plan, or (ii) satisfy our obligations under the CCO Performance Plan by paying cash to our Chief Commercial Officer. Any further approval of the Company’s stockholders would require us to comply with the applicable provisions of our Organizational Documents, the Delaware General Corporation Law, and the applicable rules of the SEC, NYSE or other applicable national securities exchange or inter-dealer quotation system on which our Common Stock is then listed. If at the Annual Meeting, 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, the Company presently intends to ensure that enough shares of Common Stock remain reserved and available for issuance under the

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders27 |

TABLE OF CONTENTS

Summary of the CCO Performance Plan (continued) Amended and Restated Certificate of Incorporation to complete any issuance of shares of