SUMME GREGORY L 4
4 · Wheels Up Experience Inc. · Filed Jun 10, 2026
Research Summary
AI-generated summary of this filing
Wheels Up Director Gregory Summe Receives 24,305 RSU Award
What Happened
Gregory L. Summe, a director of Wheels Up Experience Inc. (UP), was granted 24,305 restricted stock units (RSUs) on June 9, 2026. The grant was reported as an award/acquisition at $0.00 per unit (no immediate cash paid). The RSUs will settle into shares of Class A common stock upon vesting and were granted under the company’s 2021 Long‑Term Incentive Plan (as amended).
Key Details
- Transaction date: 2026-06-09; filing date: 2026-06-10 (filed the next day).
- Grant: 24,305 RSUs; reported acquisition price: $0.00 (award, not an open‑market purchase).
- Vesting schedule (per filing): four equal quarterly installments on 9-Sep-2026, 9-Dec-2026, 9-Mar-2027, and the earlier of 9-Jun-2027 or the next annual meeting following 9-Jun-2027, subject to continued service.
- RSUs will settle into Class A common stock upon vesting. Grant made pursuant to Rule 16b‑3(d) and the company’s LTIP.
- Share count adjusted to reflect the issuer’s 1‑for‑20 reverse split on April 24, 2026.
- Shares owned after the transaction: not specified in the provided filing excerpt.
- Filing timeliness: appears timely (reported the day after the grant).
Context: This was a compensation award (RSUs), not an open‑market buy or sale. RSU grants are common for directors and reflect future potential equity interest—value to the holder depends on the company’s share price at vesting. The award carries typical service‑based vesting requirements and will convert to actual shares only if/when vesting conditions are met.
Insider Transaction Report
- Award
Class A Common Stock, par value $0.0001 per share
[F1][F2]2026-06-09+24,305→ 36,090 total
Footnotes (2)
- [F1]Represents a grant of restricted stock units ("RSUs") under the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan, as amended and restated April 1, 2023 (as amended by Amendment No. 1 thereto, effective April 15, 2024, Amendment No. 2 thereto, effective March 26, 2025, and Amendment No. 3 thereto, effective March 31, 2026), pursuant to Rule 16b-3(d) under the Securities Exchange Act of 1934, as amended. The RSUs will be settled in shares of Class A common stock, par value $0.0001 per share, of Wheels Up Experience Inc. (the "Issuer") upon vesting, if at all. The RSUs will vest in four equal quarterly installments on each of (i) September 9, 2026, (ii) December 9, 2026, (iii) March 9, 2027, and (iv) upon the earlier to occur of (a) June 9, 2027 or (b) the date of the next annual meeting of stockholders of the Issuer following June 9, 2027, in each case subject to the Reporting Person's continued service to the Issuer.
- [F2]Amount of securities has been adjusted to reflect the Issuer's 1-for-20 reverse stock split that occurred on April 24, 2026.