Company: UP
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001140361-25-015477
Chunk: 87

Company: Wheels Up Experience Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 87
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 financial expert” as defined by the SEC; and |

| • | implementation of a range of other good corporate governance practices, including placing limits on the number of directorships held by our directors to prevent “overboarding.” |

A copy of our Corporate Governance Guidelines is available on our investor relations website at www.investors.wheelsup.com, under the heading “Governance Documents.” The information on or available through such website is not deemed incorporated in, and does not form a part of, this Proxy Statement. The website address is included as an inactive textual reference only. Composition of the Board The business and affairs of Wheels Up is managed under the direction of the Board. We have a classified board of directors, with four directors in each of Class I (Adam Zirkin, Dwight James, Daniel Janki and Thomas Klein), Class II (Timothy Armstrong, Andrew Davis, George Mattson and Gregory Summe) and Class III (Alain Bellemare, Adam Cantor, Zachary Lazar and Lee Moak). Director Independence The Board has determined that each of our current directors, other than George Mattson, our Chief Executive Officer, and Alain Bellemare, Dwight James and Daniel Janki, each of whom is a Delta employee and has been designated by Delta to serve on the Board pursuant to the Investor Rights Agreement, qualifies as an independent director under the listing rules of the NYSE. In addition, each of Jeffrey Nedelman and David Adelman qualified as an independent director under the listing rules of the NYSE prior to their resignations from the Board in March 2024 and August 2024, respectively. We are subject to the rules of the SEC and the NYSE relating to the memberships, qualifications and operations of the Audit Committee, Compensation Committee and Nominating and ESG Committee, as discussed below. There are no family relationships among any of our directors or executive officers. Board Leadership Structure The Board believes in the value of an independent Board of Directors. Currently, approximately 67% of the members of the Board are independent, including all members of the Audit Committee, Compensation Committee, and Nominating and ESG Committee. In addition, all members of the Safety and Security Committee are non-employee directors. The non-Company employee directors meet regularly in executive sessions chaired by Adam Zirkin, the current independent Chairperson of the Board, and conducted without the presence of our executive officers. The Chairperson of the Board has broad authority and responsibility, as described further below. The Board believes