CK Wheels LLC - Nov 15, 2023 Form 4 Insider Report for Wheels Up Experience Inc. (UP)

Role
10%+ Owner
Signature
CK WHEELS LLC, By: /s/ Thomas LaMacchia, Authorized Signatory, By /s/ Laura L. Torrado, Authorized Signatory
Stock symbol
UP
Transactions as of
Nov 15, 2023
Transactions value $
$0
Form type
4
Date filed
11/17/2023, 05:36 PM
Previous filing
Sep 29, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UP Common Stock Purchase +198M +326.28% 258M Nov 15, 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On November 15, 2023 (the "Closing Date"), Wheels Up Experience Inc. (the "Issuer") issued to CK Wheels LLC ("CK Wheels") 197,606,206 shares of the Issuer's Class A common stock, par value $0.0001 per share, pursuant to the terms of that certain Investment and Investor Rights Agreement, dated September 20, 2023 and amended as of the Closing Date, by and among the Issuer, the Reporting Person and certain other investors party thereto (collectively with CK Wheels, the "Investors"), in consideration of the extension of credit under that certain Credit Agreement, dated September 20, 2023 and amended as of the Closing Date, by and among the Issuer, as borrower, certain subsidiaries of the Issuer as guarantors, and the Investors party thereto.
F2 The reported securities are directly held by CK Wheels, for which CK Opportunities GP, LLC ("CK GP") is the sole voting member. CK GP is indirectly owned 47.5% by affiliates of Certares Opportunities LLC and 47.5% by affiliates of Knighthead Opportunities Capital Management, LLC.