Laura Heltebran - Jul 13, 2021 Form 4 Insider Report for Wheels Up Experience Inc. (UP)

Role
Chief Legal Officer
Signature
/s/ Mark Sorenesen as attorney-in-fact for Laura Heltebran
Stock symbol
UP
Transactions as of
Jul 13, 2021
Transactions value $
$0
Form type
4
Date filed
7/15/2021, 06:05 PM
Next filing
Sep 21, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction UP Stock Option (right to buy) Award +460K 460K Jul 13, 2021 Class A Common Stock, par value $0.0001 per share 460K $8.69 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Received in connection with Aspirational Consumer Lifestyle Corp.'s ("Aspirational") business combination transaction with Wheels Up Partners Holdings LLC ("Legacy Wheels Up") in accordance with the terms of the Agreement and Plan of Merger, dated as of February 1, 2021, as amended on May 6, 2021, by and among, inter alia, Aspirational, KittyHawk Merger Sub LLC and Legacy Wheels Up.
F2 25% of the shares subject to the stock option vested as of the closing of the Business Combination, and the remaining 75% will vest in equal installments on September 12, 2021, September 12, 2022 and September 12, 2023. The stock option will expire on December 31, 2030.