{"schema_version":"secwatch.filing_event.v1","accession":"0001819516-22-000031","form_type":"8-K","ticker":"UP","cik":"0001819516","company_name":"Wheels Up Experience Inc.","filed_at":"2022-11-09T23:59:59+00:00","discovered_at":"2026-05-14T18:03:52.312171+00:00","generated_at":"2026-06-22T01:50:19.351220+00:00","sec_items":["2.02","5.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Wheels Up Q3 revenue up 39% to $420.4M; net loss widens to $86.8M; President Hegde departs","bullets":["Revenue grew 39% YoY to $420.4M; Active Members up 12% to 12,688; Live Flight Legs +7% to 21,025.","Net loss widened to $86.8M from $59.5M; Adjusted EBITDA loss increased to $45.2M from $23.9M.","Issued $270M equipment notes (EETC) to strengthen cash position; targets Adjusted EBITDA profitability in 2024.","President Vinayak Hegde departs; receives $600k base + $400k lump sum plus 12-month advisory role at $110k.","Program changes effective Dec 1 to adjust capped rates and consolidate MOC into Atlanta; expected to lift 2023 margins."],"urls":{"canonical":"https://secwatch.observer/filing/0001819516-22-000031","json":"https://secwatch.observer/filing/0001819516-22-000031.json","markdown":"https://secwatch.observer/filing/0001819516-22-000031.md","text":"https://secwatch.observer/filing/0001819516-22-000031.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1819516/000181951622000031/0001819516-22-000031-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1819516/000181951622000031/up-20221107.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-22T01:50:19.351220+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"259b6ddc5e7346be938362459ac787fe934c631a","claim":"Wheels Up Experience Inc. reported three months ended September 30, 2022 results: revenue $420.4 million, net income $86.8 million.","evidence_excerpt":"Inc. (NYSE:UP) today announced financial results for the third quarter, which ended September 30, 2022. Third Quarter 2022 Highlights • Revenue increased 39% year-over-year to $420.4 million • Active Members grew 12% year-over-year to 12,688 in total • Live Flight Legs increased 7% year-over-year to 21,025 in total • Net loss increased by $27.4 million year-over-year","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819516/000181951622000031/0001819516-22-000031-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended September 30, 2022"},{"label":"Revenue","value":"$420.4 million"},{"label":"Net income","value":"$86.8 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"a8d1da92cd","claim":"Vinayak Hegde departed as President at Wheels Up Experience Inc..","evidence_excerpt":"The Company is also announcing the departure of Vinayak Hegde, President of Wheels Up Partners LLC, an indirect subsidiary of the Company (“WUP”), effective as of November 9, 2022","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1819516/000181951622000031/0001819516-22-000031-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"departed"},{"label":"Role","value":"President"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}