Form 4: Wheels Up COO David L. Holtz Reports Routine Share Withholding for Tax Obligations

Wheels Up Experience Inc.'s Chief Operating Officer, David L. Holtz, reported the withholding of 2,696 shares of Class A Common Stock for tax liabilities related to the vesting of restricted stock units.

Summary

• David L. Holtz, Chief Operating Officer of Wheels Up Experience Inc. (UP), filed a Form 4 reporting a transaction on May 26, 2025.
• The transaction involved the disposition of 2,696 shares of Class A Common Stock, par value $0.0001 per share.
• These shares were withheld for the payment of tax liability arising from the vesting of restricted stock units.
• The shares were disposed of at a price of $1.68 per share.
• Following this transaction, Mr. Holtz beneficially owns 993,250 shares of Class A Common Stock directly.
• The restricted stock units were originally reported in a Form 4 filed on June 7, 2024.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine compliance filing for an insider transaction related to tax withholding on vested compensation, which is a normal part of executive compensation.

Positives

• The transaction indicates the vesting of restricted stock units, which is a form of compensation for the Chief Operating Officer, reflecting continued alignment of management's interests with shareholders.

Negatives

• The disposition of shares, even for tax purposes, slightly reduces the direct share ownership of the Chief Operating Officer.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing is a routine insider transaction report common across all publicly traded companies when executive compensation, such as restricted stock units, vests and associated tax obligations are met. It does not provide specific insights into broader industry trends in the private aviation sector.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine compensation-related transaction and not a discretionary sale. It confirms the vesting of executive compensation.
• Employees: No direct impact beyond the reporting person.

Key Dates

Keywords

Wheels Up Experience Inc., UP, Form 4, Insider Transaction, David L. Holtz, Chief Operating Officer, Restricted Stock Units, Tax Withholding, Share Ownership, SEC Filing