Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 57

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 57
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 Common Stock or cash payment under such award may result in excise taxes pursuant to Sections 280G or 4999 of the Internal Revenue Code being owed by Mr. Harvey as a result of such issuance or payment. The Company is not liable for the payment of any excise taxes pursuant to Sections 280G or 4999 of the Internal Revenue Code (including any “gross-up”) that may be incurred by our Chief Commercial Officer upon vesting of the CCO Performance Plan, if at all.

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders29 |

TABLE OF CONTENTS

Summary of the CCO Performance Plan (continued) New Plan Benefits As of the Record Date, only our Chief Commercial Officer had an outstanding equity award under the CCO Performance Plan. We are requesting that the Company’s stockholders approve the CCO Performance Plan as a standalone employee benefit 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 following table sets forth the number of shares of Common Stock that the Company would have issued under the CCO Performance Plan, subject to the satisfaction of both the performance- and service-based vesting conditions under such award, as of December 31, 2024; however, because such vesting conditions for the CCO Performance Plan were not met as of such date, no shares of Common Stock vested or were issuable thereunder as of December 31, 2024.

| Name and Position                                                                  |     | Dollar Value |     | Number of Shares of Common Stock |
| George Mattson,Chief Executive Officer                                             |     | $       —    |     | —                                |
| David Harvey,Chief Commercial Officer                                              |     | —            |     | —                                |
| Mark Briffa,EVP, Charter & CEO of Air Partner                                      |     | —            |     | —                                |
| All current executive officers as a group (10 persons)(1)                          |     | $—           |     | —                                |
| All current directors who are not executive officers as a group (zero persons)     |     | $—           |     | —                                |
| All employees as a group (excluding all current executive officers) (zero persons) |     | $—           |     | —                                |

| (1) | Mr