---
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"
generated_at: "2026-06-18T18:40:46.168313+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Wheels Up announces restructuring plan targeting $30M annual savings, $14M charges

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.05, 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-027358
- JSON: https://secwatch.observer/filing/0001104659-23-027358.json
- Plain text: https://secwatch.observer/filing/0001104659-23-027358.txt

## Key facts
- Restructurings & Charges
  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).
  - Type: restructuring
  - Charge: approximately $14 million in total pre-tax charges
  - Affected area: areas of the business that do not directly impact the Company's operations or its customers’ experience
  - Headcount: headcount reductions in several areas of the business
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1819516/000110465923027358/0001104659-23-027358-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.