secwatch.observer — SEC 8-K summary
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Issuer:     Wheels Up Experience Inc. (UP)
CIK:        0001819516
Form:       8-K
Filed at:   2025-12-19T23:59:59+00:00
Accession:  0001628280-25-058340
Event type: regulatory
Sentiment:  negative
Materiality: 0.70
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wheels Up receives NYSE non-compliance notice for sub-$1.00 stock price; plans reverse split
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- NYSE notified Wheels Up on Dec 17, 2025 that average closing price was below $1.00 over 30 consecutive trading days.
- Company has six-month cure period to regain compliance; intends to use a reverse stock split (1-for-5 to 1-for-20) if needed.
- Stockholders authorized the reverse split at June 2025 annual meeting; Board has not yet approved the split.
- Business transformation continues: fleet transition to Challenger 300 and Phenom 300 and $70M annualized cost savings targeted by mid-2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1819516/000162828025058340/0001628280-25-058340-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1819516/000162828025058340/up-20251217.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-058340

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