secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K
Filed at:   2022-03-02T23:59:59+00:00
Accession:  0001104659-22-028996
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000110465922028996/0001104659-22-028996-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000110465922028996/tm228060d1_8-k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-028996

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer