Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 128

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 128
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 Harvey in 2024 and the Wheels Up Experience Inc. Performance Award Agreement, dated as of March 3, 2024, granted to Todd Smith, our former Chief Financial Officer (the “Forfeited CFO Performance Plan”) (see footnote 5 below). All such amounts were calculated in accordance with ASC 718 and using the assumptions contained in Note 11, Stockholders’ Equity and Equity-Based Compensation of the Notes to Consolidated Financial Statements included in Part II, Item 8 “Financial Statements and Supplementary Data” in our 2024 Form 10-K. The grant date fair value of the 58,174 PSUs granted on February 26, 2024 to Mr. Briffa, assuming at the grant date that the highest level of performance conditions (200%) will be achieved for each PSU, was $357,188. The grant date fair values of 10,546 and 60,000 PSUs granted on February 23, 2023 to each of Mr. Briffa and Mr. Smith, respectively, assuming at the grant date that the highest level of performance conditions (200%) will be achieved for each PSU, were $238,340 and $1,356,000, respectively. For details regarding the vesting conditions of such stock awards, see “—Outstanding Equity Awards at Year End” below. |

| (3) | Amounts listed for 2024 and 2023 represent the amounts earned by our named executive officers upon the achievement of certain Company and individual performance objectives approved by the Board for such years under the Bonus Plan (as defined below). The amounts under the Bonus Plan attributable to a given year were paid to the named executive officers during the first quarter of the subsequent fiscal year. Mr. Smith, who resigned from the Company effective September 6, 2024, did not earn any compensation under the Bonus Plan attributable to his service to the Company during 2024. See “—Narrative Disclosure to Summary Compensation Table—Annual Incentive Bonuses” below for a description of the Bonus Plan. |

| (4) | Amounts listed in the “All other compensation” column for 2024 include: |

| Name           |     | Flight Hours 
   Awarded(a) |     | Flight Hours 
      Used(b) |     | Value of Flight 
      Hours Used 
          ($)(c) |     | Contributions to 
      401(k) Plan 
           ($)(d) |     | Other Perquisites