# EDGAR Filing Document

**Accession Number:** 0001819516
**File Stem:** 0001628280-25-058340
**Filing Date:** 2025-12
**Character Count:** 19547
**Document Hash:** ef99505dcb83c2ba8f1ac59c8bf069c9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-058340.hdr.sgml**: 20251219

**ACCESSION NUMBER**: 0001628280-25-058340

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20251217

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251219

**DATE AS OF CHANGE**: 20251219

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Wheels Up Experience Inc.
- **CENTRAL INDEX KEY:** 0001819516
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIR TRANSPORTATION, NONSCHEDULED [4522]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 981617611
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39541
- **FILM NUMBER:** 251588397

**BUSINESS ADDRESS:**
- **STREET 1:** 2135 AMERICAN WAY
- **CITY:** CHAMBLEE
- **STATE:** GA
- **ZIP:** 30341
- **BUSINESS PHONE:** 1-855-359-8760

**MAIL ADDRESS:**
- **STREET 1:** 2135 AMERICAN WAY
- **CITY:** CHAMBLEE
- **STATE:** GA
- **ZIP:** 30341

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Aspirational Consumer Lifestyle Corp.
- **DATE OF NAME CHANGE:** 20200729

?xml version='1.0' encoding='ASCII'? up-20251217

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d)**

**OF THE SECURITIES EXCHANGE ACT OF 1934**

**Date of Report (Date of earliest event reported): December 17, 2025**

**WHEELS UP EXPERIENCE INC.**

**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-39541** | **98-1617611** |
| **(State or other jurisdiction** | **(Commission** | **(I.R.S. Employer** |
| **of incorporation)** | **File Number)** | **Identification No.)** |

---

---

| | |
|:---|:---|
| **2135 American Way** | |
| **Chamblee, Georgia** | **30341** |
| **(Address of principal executive offices)** | **(Zip Code)** |

---

**(212) 257-5252** 

**(Registrant's telephone number, including area code)**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading**<br>**Symbol(s)** | **Name of each exchange**<br>**on which registered** |
| Class A common stock, $0.0001 par value per share | UP | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 3.01&nbsp;&nbsp;&nbsp;&nbsp;Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.**

On December 17, 2025, Wheels Up Experience Inc. (the "Company") received a notice (the "Notice") from the New York Stock Exchange (the "NYSE") that it is no longer in compliance with Section 802.01C of the NYSE Listed Company Manual ("Section 802.01C"), which requires listed companies to maintain an average closing price per share of at least $1.00 over a consecutive 30 trading-day period. The Company has six months after receipt of the Notice (the "Cure Period") to regain compliance with Section 802.01C, which requires that during the Cure Period the Company's Class A common stock, $0.0001 par value per share ("Common Stock"), has a closing price of at least $1.00 on the last trading day of either (i) any calendar month during the Cure Period and an average closing price of at least $1.00 over the 30 trading-day period ending on such date or (ii) the end of the cure period and a $1.00 average closing share price over the 30 trading-day period ending on the last trading day of the Cure Period (together, the "Cure Conditions"). As of the date of this Current Report on Form 8-K (this "Current Report"), the Company is in compliance with all other NYSE continued listing standards.

At the Company's 2025 Annual Meeting of Stockholders held on June 10, 2025, the Company's stockholders approved a voting proposal (the "Proposal") to permit an amendment to the Company's Amended and Restated Certificate of Incorporation, dated November 15, 2023 (the "Amended and Restated Certificate of Incorporation"), to be filed at the discretion of the Company's Board of Directors (the "Board") at any time prior to the 2026 annual meeting of the Company's stockholders (the "2026 Annual Meeting"), providing for (i) a reverse stock split of the outstanding shares of Common Stock at a reverse stock split ratio of not less than 1-for-5 and not greater than 1-for-20, with an exact ratio within that range as may be determined by the Board and specified in a Certificate of Amendment to Amended and Restated Certificate of Incorporation at a later date and (ii) contemporaneously therewith, a reduction in the number of authorized shares of Common Stock by a ratio corresponding to the reverse stock split ratio (together, the "Potential Reverse Split"). Additional details about the Proposal, including risks related to the Potential Reverse Split, are included under the caption "Proposal No. 7—Reverse Stock Split and Authorized Share Reduction" in the Company's <u>[definitive proxy statement on Schedule 14A](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001819516/000114036125015477/ny20043564x2_def14a.htm)</u> filed with the U.S. Securities and Exchange Commission (the "SEC") on April 24, 2025.

On December 19, 2025, the Company notified the NYSE that, unless the Company otherwise regains compliance with Section 802.01C using other available methods, it intends to regain compliance with Section 802.01C by completing the Potential Reverse Split with sufficient time before the end of the Cure Period to cure the noted deficiency. The Potential Reverse Split would require the approval of the Board, which has been authorized to approve the Potential Reverse Split at any time prior to the 2026 Annual Meeting, and be publicly announced by the Company following any such Board approval. However, the Board has not approved the Potential Reverse Split as of the date of this Current Report. If the Board approves, and the Company completes, the Potential Reverse Split with respect to the Common Stock during the Cure Period, the Company anticipates that it would regain compliance with Section 802.01C upon satisfaction of the Cure Conditions. The Company may also consider various other available options to regain compliance with Section 802.01C.

The Notice has no immediate impact on the listing of the Common Stock on the NYSE, which will continue to be listed and trade on the NYSE under the symbol "UP", subject to the Company's compliance with the other NYSE continued listing standards. The symbol for the Common Stock will have an added designation of ".BC" to indicate "below compliance" with the NYSE's continued listing standards, which will be removed if the Company regains compliance. In addition, the Notice does not affect the Company's reporting requirements under applicable law and the rules and regulations promulgated by the SEC or result in an event of default under any of the Company's material debt agreements or other arrangements. There can be no assurance that the Company will be able to regain compliance with Section 802.01C or will not otherwise be delisted from the NYSE prior to the end of the Cure Period.

**Item 7.01&nbsp;&nbsp;&nbsp;&nbsp;Regulation FD Disclosure.**

On December 19, 2025, the Company issued a press release regarding the Notice. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated by reference herein.

The information in Item 7.01 of this Current Report and Exhibit 99.1 is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as

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amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.

***Cautionary Note Regarding Forward-Looking Statements***

This Current Report and Exhibit 99.1 furnished herewith contain certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside of the control of the Company. These forward-looking statements include, but are not limited to, statements regarding: (i) the impact of the Notice and Potential Reverse Split with respect to the Common Stock, if any, on the Company's business, results of operations, financial condition, and the trading prices, liquidity, trading volume, volatility and marketability of the Common Stock; (ii) the Company's ability to cure compliance with Section 802.01C, including by effecting Potential Reverse Split with respect to the Common Stock, if any, or any other action intended to cure compliance with Section 802.01C, or at all; (iii) the availability or success of other options that the Company may undertake that are intended to cure compliance with Section 802.01C; (iv) the Company's ability to maintain compliance with the other requirements of the NYSE's continued listing standards; (v) public perception of the Potential Reverse Split with respect to the Common Stock, if any, in light of the Company's past reverse stock split and the history of reverse stock splits for other companies, and the potential impacts on the trading market or price of the Common Stock; and (vi) the likelihood that Potential Reverse Split with respect to the Common Stock, if any,

or other action that the Company may take with the intent to regain compliance with Section 802.01C will result in any permanent increase in the trading price per share of Common Stock. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "future," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Company's <u>[Annual Report on Form 10-K for the year ended December 31, 2024](https://www.sec.gov/ix?doc=/Archives/edgar/data/0001819516/000181951625000012/up-20241231.htm)</u> filed with the SEC on March 11, 2025 and the Company's other filings with the SEC from time to time. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, the Company does not intend to update any of these forward-looking statements after the date of this Current Report.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(d)&nbsp;&nbsp;&nbsp;&nbsp;Exhibits.*

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| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 99.1 | <u>[Press Release, dated December 19, 2025](ex-991xupxpressreleasewhee.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
| | **WHEELS UP EXPERIENCE INC**. | **WHEELS UP EXPERIENCE INC**. | **WHEELS UP EXPERIENCE INC**. |
| Date: December 19, 2025 | By: | /s/ George Mattson | /s/ George Mattson |
|  |  | Name: | George Mattson |
|  |  | Title: | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Wheels Up Receives NYSE Continued Listing Standard Notice**

ATLANTA — Dec. 19, 2025 — Wheels Up Experience Inc. (NYSE: UP) ("Wheels Up") today announced that it received a notice from the New York Stock Exchange ("NYSE") on December 17, 2025 stating that the average closing price per share of its common stock did not equal at least $1.00 over a consecutive 30 trading-day period, which is required for continued listing on the NYSE.

Wheels Up remains committed to execution of its multi-year business transformation, including advancing its fleet transition to Bombardier Challenger 300 series and Embraer Phenom 300 series jets, its previously announced efficiency, productivity and overhead cost reduction actions expected to deliver approximately $70 million of annualized run-rate cost savings upon completion beginning in mid-2026, and leveraging its first-of-its-kind partnership with Delta to deliver premium solutions for every customer journey. Receipt of the NYSE notice does not affect Wheels Up's plans to execute its strategic initiatives, its objective to build a resilient business model to support sustainable future profitability, or its ability to serve its members and customers.

The NYSE's notice has no immediate effect on the listing of Wheels Up's common stock on the NYSE, which will continue to be listed and trade on the NYSE under the symbol "UP", subject to Wheels Up's compliance with the other NYSE continued listing standards. Wheels Up has six months from receipt of the NYSE's notice to regain compliance with the minimum share price requirement and may consider various available options to regain compliance. Wheels Up's stockholders previously authorized Wheels Up's Board of Directors to complete a reverse stock split with respect to the common stock any time prior to the company's 2026 annual meeting of stockholders, subject to certain conditions. Unless Wheels Up otherwise regains compliance with the minimum price requirement through other available methods, it intends to regain compliance with the NYSE's listing standards by completing a reverse stock split with sufficient time before the end of the six-month cure period to cure the noted deficiency. Any potential reverse stock split would require the approval of the Board of Directors and be publicly announced by the company following any such approval. The Board of Directors has not approved a reverse stock split as of the date of this press release.

**About Wheels Up**

Wheels Up is a leading provider of on-demand private aviation in the U.S. with a large, diverse fleet and a global network of safety-vetted charter operators, all committed to safety and service. Customers access charter and membership programs and commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also provides cargo services to a range of clients, including individuals and government organizations. With the Wheels Up app and website, members can easily search, book, and fly. For more information, visit *www.wheelsup.com*.

***Cautionary Note Regarding Forward-Looking Statements***

This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside of the control of Wheels Up. These forward-looking statements include, but are not limited to, statements regarding: (i) the impact of the noncompliance notice received by Wheels Up from the NYSE on December 17, 2025 described in this press release (the "Notice") and any potential reverse stock split (the "Potential Reverse Split") with respect to Wheels Up's Class A common stock, $0.0001 par value per share ("Common Stock"), on its business, results of operations, financial condition, and the trading prices, liquidity, trading volume, volatility and marketability of the Common Stock; (ii) Wheels Up's ability to cure compliance with Section 802.01C of the NYSE Listed Company Manual ("Section 802.01C"),

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including by effecting the Potential Reverse Split with respect to the Common Stock or any other action intended to cure compliance with Section 802.01C, or at all; (iii) the availability or success of other options that the Company may undertake that are intended to cure compliance with Section 802.01C; (iv) Wheels Up's ability to maintain compliance with the other requirements of the NYSE's continued listing standards; (v) public perception of the Potential Reverse Split with respect to the Common Stock in light of Wheels Up's past reverse stock split and the history of reverse stock splits for other companies, and the potential impacts on the trading market or price of the Common Stock; and (vi) the likelihood that the Potential Reverse Split with respect to the Common Stock or other action that Wheels Up may take with the intent to regain compliance with Section 802.01C will result in any permanent increase in the trading price per share of Common Stock. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "future," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Wheels Up's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 11, 2025 and its other filings with the SEC from time to time. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Wheels Up does not intend to update any of these forward-looking statements after the date of this press release.

**Contacts**

Investors:

ir@wheelsup.com

Media:

press@wheelsup.com

<br>