Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 77

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 77
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 Plan and CFO Performance Plan, in each case if approved by our stockholders at the Annual Meeting); and |

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders41 |

TABLE OF CONTENTS

PROPOSAL NO. 7—REVERSE STOCK SPLIT AND AUTHORIZED SHARE REDUCTION (continued) Effect on Par Value The Reverse Stock Split Amendment would not result in an adjustment to the par value of our Common Stock, which would remain at $0.0001 per share. As a result, the stated capital on our balance sheet attributable to Common Stock, which consists of the par value per share of Common Stock multiplied by the aggregate number of shares of Common Stock issued and outstanding as of the date of such balance sheet, would be reduced in proportion to the Reverse Stock Split Ratio selected by the Board, in its discretion, upon implementation, subject to minor adjustments in respect of the treatment of fractional shares. Our additional paid-in capital account, which consists of the difference between our stated capital and the aggregate amount paid to us upon issuance of all currently outstanding shares of Common Stock, would be credited with the corresponding amount by which the stated capital is reduced. Our total stockholders’ equity, in the aggregate, would remain unchanged as a result of the Reverse Stock Split and Authorized Share Reduction. The shares of our Common Stock held in treasury (reflected as issued but not outstanding in the table above) would also be reduced proportionally based on Reverse Stock Split Ratio. After the implementation of the Reverse Stock Split, our Net income (loss) per share and the net book value per share of Common Stock would increase, as compared to the per share amounts absent the Reverse Stock Split, because there would be fewer shares of Common Stock outstanding. All historic and per share amounts in our financial statements and related footnotes, for periods after the Reverse Stock Split and, on a pro forma basis, for periods prior to the Reverse Stock Split, in future SEC filings would be revised to reflect the Reverse Stock Split. Fractional Shares If our stockholders approve the Reverse Stock Split Amendment at the Annual Meeting and the Board, in its discretion, subsequently decides to effect the Reverse Stock Split, we do not plan to issue fractional shares in connection with the Reverse Stock Split. Stockholders who would otherwise hold fractional shares because the number of shares of Common Stock they hold before the Reverse Stock Split is not evenly divisible by the Reverse Stock Split Ratio would be entitled to receive cash (without interest, and subject to any required tax withholding applicable to a