Wheels Up Experience Inc. Chief Sales Officer Departs, Settlement Signed

What Happened
Wheels Up Experience Inc. (UP) filed an 8-K reporting that Chief Sales Officer Mark Briffa agreed to depart his CSO role, will assist in a transition through September 1, 2026, and entered a Settlement Agreement with Air Partner Limited dated August 12, 2026. David Godsman, the Company’s Chief Digital Officer, will serve as interim head of the global sales organization while continuing his current role.

Key Details

• Departure and transition: Departure agreed August 10, 2026; Briffa will transition duties through September 1, 2026.
• Settlement date and release: Settlement Agreement executed August 12, 2026, includes a general release and continued non‑solicitation, non‑disparagement and confidentiality covenants (with certain other covenants waived).
• Cash and pay: Continued salary through December 31, 2026 (the Separation Date); aggregate lump-sum severance/benefits of £378,354.82 (less deductions) payable after the Separation Date upon satisfaction of conditions; cash for accrued but untaken holidays; capped reimbursements for legal fees and outplacement support.
• Bonus and equity: A full-year discretionary 2026 bonus will be paid in 2027 subject to Board-approved performance metrics; RSUs or performance RSUs scheduled or eligible to vest by September 1, 2027 will continue to vest, as applicable, through that date; all other equity awards were forfeited.

Why It Matters
This 8-K signals a leadership change in Wheels Up’s sales organization and outlines the financial and equity terms of the CSO’s exit. Investors should note the near-term continuity plan (interim sales leadership by the Chief Digital Officer) and the cash/compensation impacts (continued salary, a defined severance amount in GBP, and a potential 2026 bonus). The agreement also affects incentive alignment through forfeiture of most equity awards but preserves vesting for certain RSUs through September 2027.