Company: UP
Filing Date: 2025-08-29
Form Type: 424B5
Source: 0001104659-25-085149
Chunk: 43

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-29
Form: 424B5
Chunk 43
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against” or “abstain”) at any meeting                                          
 of the Company’s stockholders other than by Delta.                                           |

The Excess Shares owned:
(i) in excess of 24.9%, less the Whitebox Non-U.S. Voting Percentage (if any), by CK Wheels; and (ii) in excess of the applicable
Whitebox Non-U.S. Voting Percentage by the applicable Whitebox Non-U.S. Entity, in each case will not be counted as issued and outstanding
for purposes of counting votes at any meeting of the Company’s stockholders or with respect to any consent solicitation.

Election of Directors and Appointment of Directors to Fill Vacancies

The Certificate of Incorporation
provides that the Board will determine the number of directors who will serve on the Board. Under the Certificate of Incorporation, the
Board will be divided into three classes designated as Class I, Class II and Class III. Class I, Class II and Class III
directors initially served for terms that expired at the first, second and third annual meeting of stockholders, respectively, following
July 13, 2021. At each succeeding annual meeting of stockholders, directors will be elected for a full term of three years to succeed
the directors of the class whose terms expire at such annual meeting of the stockholders. There is no limit on the number of terms a
director may serve on the Board.

In addition, the Certificate
of Incorporation provides that any vacancy on the Board, including a vacancy that results from an increase in the number of directors
or a vacancy that results from the removal of a director with cause, may be filled only by a majority of the directors then in office.
Each director will serve until his or her successor is duly elected and qualified or until his or her earlier death, resignation, retirement,
disqualification or removal. No decrease in the number of directors constituting the Board will shorten the term of any incumbent director.

| 10 |

Pursuant to the Investor
Rights Agreement, each of the Company and the Investors are required to use its best efforts to cause the Board to be comprised of 12
directors as follows immediately following the Closing (as defined in the Investor Rights Agreement):

| · | four                                                                                    
 (4) designees of Delta, with two (2) of such directors designated to serve as Class III 
 directors and the others designated to serve as Class I directors;                      |

| · | four                                                                            
 (4) designees of CK Wheels,