Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 166

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 166
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 $—           |     | + |     | $—          |     | — |     | $—           |     | = |     |            $— |
| 2023 |     |    $1,261,112 |     | + |     | $(469,743)   |     | + |     | $(469,743)  |     | + |     | $—         |     | + |     | $—           |     | + |     | $—          |     | — |     | $—           |     | = |     |      $321,625 |
| 2022 |     |            $— |     | + |     | $—           |     | + |     | $—          |     | + |     | $—         |     | + |     | $—           |     | + |     | $—          |     | — |     | $—           |     | = |     |            $— |

| Wheels Up Experience Inc.Proxy Statement and Notice of 2025 Annual Meeting of Stockholders87 |

TABLE OF CONTENTS

Pay Versus Performance (continued)

| (6) | CAP, as calculated in accordance with SEC rules, does not fully represent the actual final amount of compensation earned or actually paid during the applicable year. The aggregate value of cash compensation and perquisites and other benefits paid to Mr. Mattson for 2024 was $1,475,000. The adjustments made to total compensation for 2024 and 2023 to determine CAP for Mr. Mattson, which include, among other things, unpaid amounts of equity incentive compensation that require the satisfaction of both performance- and service-based vesting conditions under the CEO Performance Plan, if at all, that may be realizable in future periods, are shown in the tables below and were calculated pursuant to applicable SEC rules. The Investor Multiple on Invested Capital will need to be greater than6.5x for the CEO Performance Plan, if realized upon the satisfaction of both performance- and service-based vesting conditions in connection with the Final Determination Date, to be fully settled at a level consistent with the estimated fair value required to be included in CAP in the “Fair Value of CAP Calculated Using SEC Methodology” column below for 2023. The price per share of our Common Stock is a significant driver of fluctuations in the fair value and ultimate payout under the CEO Performance Plan granted to Mr. Mattson. As a result,