Company: UP
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001140361-25-011647
Chunk: 15

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 15
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 voting outcome. For Proposal No. 3, which is a “routine” matter, abstentions will not count as votes cast and will have no effect on the voting outcome. For Proposal No. 7, which is a “routine” matter that requires that at least a majority of the votes cast with respect to shares of capital stock of the Company entitled to vote thereon, voting together as a single class, approve Proposal No. 7, abstentions will not count as votes cast and will have no effect on the voting outcome. Since Proposal Nos. 3 and 7 are “routine”, no broker non-votes are expected to exist in connection with Proposal Nos. 3 and 7. See “ How many votes are needed to approve the proposals?” below for additional information. Any Excess Shares, including any Excess Shares owned by CK Wheels and Whitebox Non-U.S. Entities, will not be counted as issued and outstanding for purposes of counting votes at the Annual Meeting and will not count for the purpose of determining whether a quorum is present at the Annual Meeting. What are “broker non-votes”? Broker non-votes occur when a beneficial owner of shares held in “street name” does not give instructions to the Broker holding the shares as to how to vote on matters deemed “non-routine,” such as Proposal Nos. 1, 2, 4, 5 and 6. Generally, if shares are held in “street name,” the beneficial owner of the shares is entitled to give voting instructions to the Broker holding the shares. If the beneficial owner does not provide voting instructions, the Broker can still vote the shares with respect to matters that are considered to be “routine,” such as Proposal Nos. 3 and 7, but not with respect to “non-routine” matters. If a Broker or other record holder of Common Stock entitled to vote indicates on a proxy that it does not have discretionary authority to vote certain shares on a particular proposal, then those shares will be treated as broker non-votes with respect to that proposal. Because the Proposals to be voted on at the Annual Meeting, except Proposal Nos. 3 and 7, are all considered “non-routine” and a Broker is not entitled to vote on non-routine matters without instruction from the beneficial owner, the failure to instruct your Broker how to vote your shares on Proposal Nos. 1, 2, 4, 5 and 6 will have no effect on the outcome of the applicable Proposal.