{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-027358","form_type":"8-K","ticker":"UP","cik":"0001819516","company_name":"Wheels Up Experience Inc.","filed_at":"2023-03-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:46.760845+00:00","generated_at":"2026-06-18T18:40:46.168313+00:00","sec_items":["2.05","7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Wheels Up announces restructuring plan targeting $30M annual savings, $14M charges","bullets":["Plan reduces headcount in non-operational areas; excludes pilots, maintenance, and customer-facing roles.","Expected annualized run-rate savings of ~$30M, primarily in SG&A costs relative to Q3 2022.","Total pre-tax charges of ~$14M: ~$7M already incurred in Q4 2022 actions, ~$7M expected by end of Q1 2023.","Charges include severance, benefits, and share-based compensation; ~$8-9M in one-time cash expenditures.","Restructuring actions expected to be substantially complete by end of Q1 2023; part of Path to Profitability for 2024 Adjusted EBITDA."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-027358","json":"https://secwatch.observer/filing/0001104659-23-027358.json","markdown":"https://secwatch.observer/filing/0001104659-23-027358.md","text":"https://secwatch.observer/filing/0001104659-23-027358.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1819516/000110465923027358/0001104659-23-027358-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1819516/000110465923027358/tm238254d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-18T18:40:46.168313+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"c5080a92399458fa8e9b844e33e9a0e0e9fc9502","claim":"Wheels Up Experience Inc. announced a restructuring with charges of approximately $14 million in total pre-tax charges affecting areas of the business that do not directly impact the Company's operations or its customers’ experience (headcount reductions in several areas of the business).","evidence_excerpt":"in the fourth quarter of 2022 (the “Q4 Actions”) prior to the Company’s commitment to taking the actions announced today. The Company estimates that it will incur approximately $14 million in total pre-tax charges in connection with the Plan, approximately $7 million of which were incurred to-date and in connection with the Q4 Actions, and approximately $7 million","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819516/000110465923027358/0001104659-23-027358-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $14 million in total pre-tax charges"},{"label":"Affected area","value":"areas of the business that do not directly impact the Company's operations or its customers’ experience"},{"label":"Headcount","value":"headcount reductions in several areas of the business"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}