Wheels Up CMO Lee Applbaum departs; receives $487K+ severance package

Wheels Up Experience Inc.

Lee Applbaum, Chief Marketing Officer, left effective May 1, 2023, to pursue personal ventures.
Severance includes lump sum of $271,233 (8 months base salary) and additional $216,310 for flight-hour payout.
Eligible for 2023 annual bonus at 100% target for 4 months of service, subject to performance metrics.
Equity awards vesting for 12 months post-departure accelerated; COBRA premiums paid through Dec 31, 2023.
No replacement named; separation agreement includes non-disparagement and confidentiality.

item 5.02 item 9.01

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Departed

Lee Applbaum

Chief Marketing Officer

UP · Wheels Up Experience Inc.

Effective: 2023-05-01
Filed: May 2, 2023, 7:59 PM ET

Lee Applbaum, the Chief Marketing Officer of Wheels Up Partners LLC, an indirect subsidiary of the Company (“WUP”), departed the Company effective May 1, 2023

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Lee Applbaum departed as Chief Marketing Officer at Wheels Up Experience Inc..

Action: departed
Role: Chief Marketing Officer

Exact text from the filing

Lee Applbaum, the Chief Marketing Officer of Wheels Up Partners LLC, an indirect subsidiary of the Company (“WUP”), departed the Company effective May 1, 2023

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Source: SEC EDGAR

accession 0001104659-23-055047

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