Eric Cabezas - May 18, 2022 Form 3 Insider Report for Wheels Up Experience Inc. (UP)

Role
Interim CFO
Signature
/s/ Mark Sorensen as attorney-in-fact for Eric Cabezas
Stock symbol
UP
Transactions as of
May 18, 2022
Transactions value $
$0
Form type
3
Date filed
5/20/2022, 09:12 PM
Next filing
Sep 11, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding UP Class A Common Stock, par value $0.0001 per share 82.6K May 18, 2022 Direct F1

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
holding UP Stock Option (right to buy) May 18, 2022 Class A Common Stock, par value $0.0001 per share 69.1K $7.04 Direct F2
holding UP Stock Option (right to buy) May 18, 2022 Class A Common Stock, par value $0.0001 per share 115K $7.56 Direct F3
holding UP Stock Option (right to buy) May 18, 2022 Class A Common Stock, par value $0.0001 per share 23K $8.39 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of Class A Common Stock of the Issuer ("Class A Common Stock") subject to a grant of Restricted Stock Units ("RSUs") pursuant to Rule 16b-3(d), which will be settled in shares of the Class A Common Stock upon vesting. 81,081 shares of Class A Common Sock subject to the RSUs will vest three equal annual installments on each of February 16, 2023, 2024, and 2025, subject to the Reporting Person's continued service to the Issuer and 1,500 shares of Class A Common Stock subject to the RSUs will vest on November 1, 2022, subject to the Reporting Person's continued service to the Issuer.
F2 100%of the shares subject to the stock options vested as of January 12, 2022. The option was granted on April 30, 2019.
F3 75% of the shares subject to the stock options vested on December 11, 2020, July 13, 2021 and August 24, 2021 and the remaining 25% will vest on August 24, 2022. The option was granted on December 11, 2019.
F4 50% of the shares subject to the stock options vested on July 13, 2021 and August 7, 2021, and the remaining 50% will vest on August 7, 2022 and August 7, 2023. The option was granted on November 25, 2020.

Remarks:

Exhibit List: Exhibit 24.1 - Power of Attorney