Kenneth H. Dichter - 16 May 2023 Form 4 Insider Report for Wheels Up Experience Inc. (UP)

Reporting relationship: Director
Issuer ticker: UP
Reported as of: 16 May 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 18 May 2023, 19:01:05 UTC
Prior SEC filing: 04 Apr 2023
Source filing: View source filing
Reporting owner signature: /s/ Mark Sorensen as attorney-in-fact for Kenneth H Dichter

Key filing fact

Kenneth H. Dichter filed Form 4 for Wheels Up Experience Inc. (UP) on 18 May 2023.

Key facts

This page summarizes Kenneth H. Dichter's Form 4 filing for Wheels Up Experience Inc. (UP).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 18 May 2023, 19:01.

Change

Previous filing in this sequence was filed on 04 Apr 2023.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

UP transaction

Class A Common Stock, par value $0.0001 per share

Disposed to Issuer

Transaction value: $0
Shares: -533,334
Change %: -4.4%
Price: $0.000000
Shares after: 11,588,598
Date: 16 May 2023
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

UP transaction Derivative

Restricted Stock Units

Disposed to Issuer

Transaction value: $0
Shares: -1,615,000
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 16 May 2023
Ownership: Direct
Underlying class: Class A Common Stock, par value $0.0001 per share
Underlying amount: 1,615,000
Exercise price
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

Represents the Restricted Stock Units ("RSUs") originally granted on June 8, 2022 that were forfeited by the Reporting Person effective May 16, 2023 pursuant to the terms of that certain Release and Waiver, dated as of May 9, 2023, by and among the Reporting Person, Wheels Up Experience Inc., Wheels Up Partners Holdings LLC, Wheels Up Partners LLC and Wheels Up MIP LLC (solely with respect to Section 2(b) thereof).

Footnote F2

Each RSU represented a contingent right to receive one share of Class A common stock, par value $0.0001 per share ("Common Stock"). The RSUs forfeited were subject to vesting upon the Common Stock achieving certain milestones based on a specified price per share.