SUMME GREGORY L 4

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.