Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 80

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 80
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 stockholder held immediately prior to the Reverse Stock Split, subject to the treatment of fractional shares as described herein. While we expect that the Reverse Stock Split would result in an increase in the trading price per share of our Common Stock, the Reverse Stock Split may not increase the trading price per share of Common Stock in proportion to the reduction in the number of shares of our Common Stock issued and outstanding. The history of reverse stock splits for us and other companies is varied,

| 42Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders |

TABLE OF CONTENTS PROPOSAL NO. 7—REVERSE STOCK SPLIT AND AUTHORIZED SHARE REDUCTION (continued) particularly since some stockholders and investors may view a reverse stock split negatively. The Company can provide no assurance that the Reverse Stock Split will result in a permanent increase in the trading price per share of Common Stock, which depends on many factors. Although we believe the Reverse Stock Split may enhance the marketability of our Common Stock to certain potential investors, we cannot assure you that, if implemented, our Common Stock will be more attractive to investors. If a Reverse Stock Split is effected and the trading price per share of Common Stock declines, the decline as an absolute number and as a percentage of our overall market capitalization or freely tradeable public float may be greater than would occur in the absence of a Reverse Stock Split. The liquidity of our Common Stock may be negatively impacted by the Reverse Stock Split, given the reduced number of shares of Common Stock that would be outstanding after the Reverse Stock Split, particularly if the trading price per share of Common Stock does not increase as a result of the Reverse Stock Split. The risk may be increased by the relatively low trading volume of our Common Stock and relatively small public float. In addition, the Reverse Stock Split will likely increase the number of stockholders who own odd lots (less than 100 shares). Stockholders who hold odd lots typically experience an increase in the cost of selling their shares, as well as possible greater difficulty in effecting such sales. Accordingly, a Reverse Stock Split may not achieve all of the desired results described in this Proposal No. 7. The NYSE listing rules limit the conditions under which a listed company can use a reverse stock split to meet the NYSE’s minimum price criteria, such that if a listed company has undertaken a reverse stock split within the past year or has performed one or more reverse stock splits over the past two years with a cumulative ratio of 200 shares or more to