Timothy M. Armstrong - 02 Jun 2022 Form 4 Insider Report for Wheels Up Experience Inc. (UP)

Role: Director
Signature: /s/ Mark Sorensen as attorney-in-fact for Timothy Armstrong
Issuer symbol: UP
Transactions as of: 02 Jun 2022
Net transactions value: $0
Form type: 4
Filing time: 03 Jun 2022, 17:01:14 UTC
Previous filing: 01 Jun 2022
Next filing: 24 Jan 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	UP	Class A Common Stock, par value $0.0001 per share	Award	$0	+62,950	+360%	$0.000000	80,450	02 Jun 2022	Direct	F1
holding	UP	Class A Common Stock, par value $0.0001 per share						9,000	02 Jun 2022	Held by Armstrong Family Investment, LLC	F2
holding	UP	Class A Common Stock, par value $0.0001 per share						1,007,710	02 Jun 2022	Held by Polar Capital Group, LLC	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a grant of Restricted Stock Units ("RSUs"), which will be settled in shares of the Class A Common Stock of Wheels Up Experience Inc. upon vesting. The RSUs will vest in full upon the earlier to occur of (i) June 2, 2023 or (ii) the date of the next annual meeting of stockholders of the Company following June 2, 2022, in each case subject to the Reporting Person's continued service to the Issuer.
F2	The shares are held indirectly by an entity controlled by the Reporting Person.

Content

Represents a grant of Restricted Stock Units ("RSUs"), which will be settled in shares of the Class A Common Stock of Wheels Up Experience Inc. upon vesting. The RSUs will vest in full upon the earlier to occur of (i) June 2, 2023 or (ii) the date of the next annual meeting of stockholders of the Company following June 2, 2022, in each case subject to the Reporting Person's continued service to the Issuer.

The shares are held indirectly by an entity controlled by the Reporting Person.