Form 4: Wheels Up CFO Smith Sells Shares to Cover Tax Obligations
SEC Form 4
Todd Lamar Smith, CFO of Wheels Up Experience Inc., sold 17,610 shares of Class A Common Stock on February 26, 2024, to cover tax liabilities arising from vesting restricted stock units.
Summary
- On February 26, 2024, Todd Lamar Smith, the Chief Financial Officer of Wheels Up Experience Inc., disposed of 17,610 shares of Class A Common Stock.
- The transaction was executed to cover tax obligations related to the vesting of restricted stock units.
- Following the transaction, Smith directly owns 417,043 shares of Wheels Up Experience Inc.
Sentiment
Score: 5
Explanation: The document describes a routine transaction (selling shares to cover tax obligations) and doesn't provide strong positive or negative signals about the company's overall health.
Industry Context
Sales of shares to cover tax obligations are a routine part of executive compensation and are not necessarily indicative of a negative outlook on the company.
Stakeholder Impact
- The sale of shares by a company executive could be perceived negatively by some shareholders, although it is a common practice.
Key Dates
| Date | Description |
|---|---|
| 06/02/2023 | Date of original Form 4 filing reporting restricted stock units. |
| 02/26/2024 | Date of transaction: sale of shares to cover tax liability. |
| 02/27/2024 | Date of signature on the Form 4 filing. |
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