8-K
filed June 1, 2023, 7:59 PM ET
ticker UP
CIK 0001819516
other material
confidence high
sentiment neutral
materiality 0.75
Wheels Up shareholders approve 1-for-10 reverse stock split; effective June 7, 2023
Wheels Up Experience Inc.
- Stockholders approved 1-for-10 reverse stock split; authorized shares reduced from 2.5B to 250M.
- Reverse split effective after close June 7; split-adjusted trading begins June 8 under same symbol UP.
- Amended 2021 Long-Term Incentive Plan approved, increasing shares available for awards.
- Majority vote standard and officer exculpation amendments rejected by shareholders.
- Fractional shares to be cashed out at closing price on June 7; warrants adjusted to 1/10th share at $115 exercise.
Key facts
Extracted from this filing and checked against the source text.
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Wheels Up Experience Inc. shareholders approved Amendment to effect reverse stock split and authorized share reduction at the 2023-05-31 meeting.
- Proposal
- reverse split
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
As a result, the Company’s stockholders approved the Reverse Stock Split Amendment.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Wheels Up Experience Inc. shareholders rejected Amendment to permit officer exculpation at the 2023-05-31 meeting.
- Proposal
- charter amendment
- Outcome
- failed
- Meeting
- 2023-05-31
Exact text from the filing
As a result, the Company’s stockholders did not approve the Officer Exculpation Amendment.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Wheels Up Experience Inc. shareholders approved Election of four Class II directors at the 2023-05-31 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
The Annual Meeting of the Company was held on May 31, 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Wheels Up Experience Inc. shareholders approved Non-binding advisory vote on named executive officer compensation at the 2023-05-31 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
As a result, the stockholders approved the non-binding, advisory vote on named executive compensation for the fiscal year ended December 31, 2022.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Wheels Up Experience Inc. shareholders approved Ratification of Grant Thornton LLP as independent registered public accounting firm at the 2023-05-31 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
As a result, the Company’s stockholders ratified the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Wheels Up Experience Inc. shareholders approved Amended and Restated 2021 Long-Term Incentive Plan at the 2023-05-31 meeting.
- Proposal
- equity plan
- Outcome
- passed
- Meeting
- 2023-05-31
Exact text from the filing
As a result, the Company’s stockholders approved the Amended and Restated 2021 LTIP.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
Wheels Up Experience Inc. shareholders rejected Amendment to adopt majority vote standard for uncontested director elections at the 2023-05-31 meeting.
- Proposal
- charter amendment
- Outcome
- failed
- Meeting
- 2023-05-31
Exact text from the filing
As a result, the Company’s stockholders did not approve the Majority Vote Amendment.
View on SEC.gov
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