Form 4: Wheels Up Chief Digital Officer Reports Scheduled Stock Disposition for Tax Withholding
Insider Transaction Report
Wheels Up Experience Inc.'s Chief Digital Officer, David Godsman, reported a scheduled disposition of 11,959 shares of Class A Common Stock on June 1, 2025, to cover tax liabilities arising from restricted stock unit vesting.
Summary
- David Godsman, Chief Digital Officer of Wheels Up Experience Inc. (UP), filed a Form 4 reporting a change in beneficial ownership.
- The transaction involves the disposition of 11,959 shares of Class A Common Stock, par value $0.0001 per share.
- The transaction date is reported as June 1, 2025, with a price of $1.31 per share.
- This disposition is categorized as 'F', indicating shares withheld for payment of tax liability.
- The tax liability stems from the vesting of restricted stock units (RSUs) that were originally reported in a Form 4 filed on June 5, 2023.
- Following this reported transaction, David Godsman will beneficially own 1,054,317 shares directly.
Sentiment
Score: 5
Explanation: The document reports a routine, pre-scheduled insider transaction for tax withholding purposes, which is a neutral event and does not indicate positive or negative sentiment regarding the company's performance or outlook.
Future Outlook
This Form 4 reports a scheduled future transaction (June 1, 2025) related to tax withholding for RSU vesting, indicating a pre-planned event under a Rule 10b5-1 plan. It does not provide broader forward-looking statements regarding company performance or strategy.
Industry Context
This filing is a routine insider transaction report (Form 4) for a public company, reflecting a standard process for managing equity compensation and associated tax obligations. It does not provide insights into broader industry trends or competitive dynamics within the private aviation sector.
Stakeholder Impact
- Shareholders: The disposition of shares for tax withholding is a routine event and typically has minimal direct impact on the company's share price or shareholder value, as it is not a discretionary sale.
Key Dates
| Date | Description |
|---|---|
| 06/05/2023 | Original filing date of the Form 4 reporting the restricted stock units (RSUs) from which the current tax liability arises. |
| 06/01/2025 | Transaction date for the disposition of shares to cover tax liability. |
| 06/03/2025 | Filing date of the current Form 4. |
Keywords
Wheels Up Experience Inc., UP, Form 4, insider transaction, stock disposition, tax withholding, restricted stock units, RSU vesting, David Godsman, equity, corporate officer
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