Form 4: Wheels Up CLO Reports Tax-Related Share Withholding

Chief Legal Officer Matthew J. Knopf reported the withholding of 379 shares to cover tax liabilities following the vesting of restricted stock units.

Summary

• Matthew J. Knopf, Chief Legal Officer of Wheels Up Experience Inc., disposed of 379 shares of Class A Common Stock.
• The transaction occurred on May 26, 2026, at a price of $8.66 per share.
• The disposal was a mandatory tax withholding event related to the vesting of previously granted restricted stock units.
• Following this transaction, the reporting person maintains a beneficial ownership of 96,243 shares.
• The share count reflects adjustments for the company's 1-for-20 reverse stock split effective April 24, 2026.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative event, as the share disposal was strictly for tax compliance purposes.

Positives

• The transaction was a routine administrative action for tax compliance rather than a discretionary market sale.

Negatives

• Reduction in the reporting person's direct equity stake in the company.

Risks

• General market risks associated with the aviation and private charter industry.

Future Outlook

No forward-looking guidance provided in this filing.

Industry Context

StockSavvy.ai notes that tax-related share withholding is a standard corporate governance practice for executives receiving equity-based compensation and does not typically signal a change in management sentiment regarding company performance.

Comparison to Industry Standards

• The transaction follows standard SEC reporting requirements for executive compensation vesting.
• The use of 10b5-1 style tax withholding is consistent with best practices for public company officers.

Stakeholder Impact

• Minimal impact on shareholders as the transaction was a routine tax withholding event.

Key Dates

Keywords

Wheels Up, UP, Insider Trading, Form 4, Tax Withholding, Aviation