Delta Air Lines, Inc. - Sep 20, 2023 Form 4 Insider Report for Wheels Up Experience Inc. (UP)

Role
10%+ Owner
Signature
By: /s/ Peter W. Carter, Executive Vice President - External Affairs of Delta Air Lines, Inc.
Stock symbol
UP
Transactions as of
Sep 20, 2023
Transactions value $
$0
Form type
4
Date filed
9/22/2023, 05:00 PM
Previous filing
Jul 22, 2021
Next filing
Nov 17, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UP Class A Common Stock Other +60.6M +1164.65% 65.8M Sep 20, 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 September 20, 2023 (the "Closing Date"), the Reporting Person entered into a Credit Agreement (the "Credit Agreement") by and among Wheels Up Experience Inc. (the "Issuer"), as borrower, certain subsidiaries of the Issuer as guarantors, the Reporting Person and certain other lenders party thereto (collectively with the Reporting Person, the "Lenders"). In consideration of the transactions contemplated by the Credit Agreement and the extension of credit thereunder, the Issuer and the Lenders entered into an Investment and Investor Rights Agreement, dated as of the Closing Date, pursuant to which the Issuer issued to the Reporting Person 60,563,002 shares of the Company's Class A common stock, par value $0.0001 per share.
F2 Amount of securities has been adjusted to reflect the 10:1 reverse stock split that occurred on June 7, 2023.