---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-055047"
form_type: "8-K"
ticker: "UP"
cik: "0001819516"
company_name: "Wheels Up Experience Inc."
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:47:03.900615+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-23-055047
- form_type: 8-K
- ticker: UP
- cik: 0001819516
- company_name: Wheels Up Experience Inc.
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819516/000110465923055047/0001104659-23-055047-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819516/000110465923055047/tm2314240d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-055047
- JSON: https://secwatch.observer/filing/0001104659-23-055047.json
- Plain text: https://secwatch.observer/filing/0001104659-23-055047.txt

## Key facts
- Executive change
  Lee Applbaum departed as Chief Marketing Officer at Wheels Up Experience Inc..
  - Action: departed
  - Role: Chief Marketing Officer
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819516/000110465923055047/0001104659-23-055047-index.htm

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