Wheels Up confirms Hegde promotion to President, boosts salary to $600k, grants 1.38M RSUs

Wheels Up Experience Inc.

Vinayak Hegde promoted from EVP/Chief Marketplace Officer to President, effective Oct 5, 2021.
Base salary increased from $475,000 to $600,000 per year; one-time cash bonus of $25,846 for retroactive adjustment.
Annual target bonus raised from 100% to 125% of base salary; bonus guaranteed through May 5, 2022.
One-time equity award of 1,377,411 restricted stock units, vesting equally over three years.
Hegde allocated 15 light-cabin and 50 mid-cabin flight hours per year under executive flight plan.

item 5.02 item 9.01

Executive movements

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Role change

Vinayak Hegde

President

UP · Wheels Up Experience Inc.

Effective: 2021-10-05
Filed: March 2, 2022, 6:59 PM ET

confirms Mr. Hegde's previously announced promotion from EVP and Chief Marketplace Officer to President, effective October 5, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Vinayak Hegde changed role as President at Wheels Up Experience Inc..

Action: promoted
Role: President

Exact text from the filing

confirms Mr. Hegde's previously announced promotion from EVP and Chief Marketplace Officer to President, effective October 5, 2021.

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Wheels Up Experience Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-028996

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