Form 4: Wheels Up Chief Digital Officer Stock Tax Withholding
Statement of Changes in Beneficial Ownership
Chief Digital Officer David Godsman disposed of 492 shares of Wheels Up Experience Inc. to satisfy tax obligations related to RSU vesting.
Summary
- David Godsman, Chief Digital Officer of Wheels Up Experience Inc., reported the disposition of 492 shares of Class A Common Stock.
- The shares were withheld by the company to cover tax liabilities associated with the vesting of restricted stock units (RSUs).
- The transactions occurred on May 26, 2026, at a price of $8.66 per share.
- Following these transactions, the reporting person holds 80,409 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral event, as the transaction is purely administrative and related to tax compliance rather than a strategic shift or market-driven divestment.
Positives
- The transaction was a routine administrative action related to tax withholding upon the vesting of equity compensation, rather than a discretionary market sale.
Negatives
- The transaction represents a reduction in the reporting person's direct equity stake in the company.
Risks
- The company recently underwent a 1-for-20 reverse stock split on April 24, 2026, which may impact liquidity and market perception.
Future Outlook
No forward-looking guidance or strategic outlook was provided in this regulatory filing.
Industry Context
StockSavvy.ai notes that routine tax withholding filings are standard corporate practice for executives receiving equity-based compensation and do not typically signal a change in management sentiment regarding company performance.
Comparison to Industry Standards
- The use of 'sell-to-cover' transactions to satisfy tax obligations upon RSU vesting is a standard practice among publicly traded companies in the aviation and technology sectors.
Stakeholder Impact
- Minimal impact on shareholders as the transaction was a non-discretionary tax withholding event.
Key Dates
| Date | Description |
|---|---|
| 04/24/2026 | Effective date of the 1-for-20 reverse stock split. |
| 05/26/2026 | Date of the reported stock withholding transactions. |
| 05/28/2026 | Date the Form 4 was signed and filed. |
Keywords
Wheels Up, UP, Form 4, Insider Trading, Equity Compensation, Tax Withholding, Aviation
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