Kenneth H. Dichter - 08 Jun 2022 Form 4 Insider Report for Wheels Up Experience Inc. (UP)

Role
Chief Executive Officer, Director
Signature
/s/ Mark Sorensen as attorney-in-fact for Kenneth H Dichter
Issuer symbol
UP
Transactions as of
08 Jun 2022
Net transactions value
$0
Form type
4
Filing time
10 Jun 2022, 16:07:49 UTC
Previous filing
10 Feb 2022
Next filing
26 Aug 2022
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 +1,600,000 +12% $0.000000 14,753,435 08 Jun 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
transaction UP Restricted Stock Units Award $0 +1,615,000 $0.000000 1,615,000 08 Jun 2022 Class A Common Stock, par value $0.0001 per share 1,615,000 Direct 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") pursuant to Rule 16b-3(d), which will be settled in shares of the Class A Common Stock of Wheels Up Experience Inc. ("Class A Common Stock") upon vesting. The RSUs will vest in three equal installments on June 8, 2023, June 8, 2024 and June 8, 2025, subject to the Reporting Person's continued service to the Issuer.
F2 Each RSU represents a contingent right to receive one share of Class A Common Stock. The RSUs vest upon the Class A Common Stock achieving certain milestones based on a specified price per share.