secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K/A
Filed at:   2023-06-27T23:59:59+00:00
Accession:  0001104659-23-075336
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wheels Up discloses consulting agreement with Executive Chairman Ravi Thakran
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- Monthly fee of $55,417 (annual $665,000); eligible for annual bonus target of 100% of fee.
- One-time RSU award of 160,000 shares vesting equally on May 9, 2024 and May 9, 2025.
- Additional perks: 50 flight hours on King Air 350i and up to $800/night NYC hotel reimbursement.
- Agreement effective retroactively from May 9, 2023 until day before 2024 annual meeting.
- Contract is independent contractor arrangement; Company retains ability to terminate for cause.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000110465923075336/0001104659-23-075336-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000110465923075336/tm2319690d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-075336

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer