Form 4: Director Gregory Summe Receives RSU Grant at Wheels Up
Statement of Changes in Beneficial Ownership
Director Gregory L. Summe was granted 24,305 restricted stock units as part of the Wheels Up Experience Inc. long-term incentive plan.
Summary
- Director Gregory L. Summe acquired 24,305 restricted stock units (RSUs) on June 9, 2026.
- The grant was issued under the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan.
- The RSUs will vest in four equal quarterly installments starting September 9, 2026, through June 9, 2027.
- Following this transaction, the reporting person holds a total of 36,090 shares of Class A common stock.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a routine administrative filing regarding director compensation, which carries a neutral sentiment.
Positives
- Alignment of director interests with long-term shareholder value through equity-based compensation.
Negatives
- Dilutive impact of new equity grants to directors.
Risks
- Vesting is subject to the reporting person's continued service to the issuer.
- The value of the equity is subject to market volatility of the underlying Class A common stock.
Future Outlook
The RSUs are scheduled to vest in four equal quarterly installments, concluding on June 9, 2027, or the date of the next annual meeting, whichever is earlier.
Industry Context
StockSavvy.ai notes that equity grants to board members are standard corporate governance practice to ensure director retention and alignment with company performance in the private aviation sector.
Comparison to Industry Standards
- The use of RSU grants for board compensation is consistent with standard practices for publicly traded companies in the aviation and travel technology sectors.
- The vesting schedule of one year is relatively standard for director equity awards.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Equity Incentive Plan Amendment | Reference to Amendment No. 3 to the 2021 Long-Term Incentive Plan effective March 31, 2026. | 03/31/2026 | Updates the framework for equity-based compensation for directors and employees. |
Stakeholder Impact
- Shareholders may experience minor dilution from the issuance of new shares upon RSU vesting.
Next Steps
- Vesting of the first tranche of RSUs on September 9, 2026.
Key Dates
| Date | Description |
|---|---|
| 06/09/2026 | Date of RSU grant transaction. |
| 06/10/2026 | Date of filing. |
| 09/09/2026 | First vesting date for the RSU grant. |
Keywords
Wheels Up, UP, Form 4, Insider Trading, Equity Compensation, Director Compensation
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