4/A: Wheels Up Executive Brian Kedzior Corrects Stock Grant Details in Amended SEC Filing
SEC Filing (Form 4/A)
Brian Kedzior, Chief People Officer at Wheels Up Experience Inc., files an amendment to a previous Form 4 to correct the number of restricted stock units (RSUs) granted.
Summary
- Brian Kedzior, Chief People Officer of Wheels Up Experience Inc., filed an amended Form 4 with the SEC to correct the number of restricted stock units (RSUs) granted to him on February 26, 2025.
- The original filing on February 28, 2025, incorrectly stated the number of RSUs as 276,694, which has been revised to 332,032.
- Consequently, the total number of Class A Common Stock shares beneficially owned following the reported transaction has been updated from 808,771 to 864,109.
- The amendment also reflects the withholding of 9,907 shares for payment of tax liability related to the vesting of previously reported RSUs.
- The RSUs will vest in installments, starting with 1/4th on February 26, 2026, and the remaining vesting quarterly until fully vested, contingent upon continued service.
Sentiment
Score: 7
Explanation: The document is a routine correction of a previous filing, indicating standard corporate governance practices. It doesn't inherently suggest positive or negative sentiment, but the correction itself is a sign of diligence.
Future Outlook
The RSUs will vest over time, contingent on the Reporting Person's continued service to the Issuer.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the equity holdings of company insiders.
Comparison to Industry Standards
- Executive compensation packages, including RSU grants, are standard practice across publicly traded companies.
- The vesting schedule of the RSUs (1/4th initially, then quarterly) is a common vesting structure.
- Companies like NetJets (Berkshire Hathaway) and Flexjet (Directional Aviation) also utilize equity-based compensation for their executives, although specific details are not always publicly available to the same extent due to their private ownership.
Stakeholder Impact
- The correction of the RSU grant ensures accurate reporting of executive compensation, which is important for shareholder transparency.
Key Dates
| Date | Description |
|---|---|
| 06/07/2024 | Date of original Form 4 filing reporting restricted stock units (RSUs). |
| 02/26/2025 | Date of the RSU grant that is being corrected in the amended filing. |
| 02/28/2025 | Date of the original Form 4 filing with the incorrect RSU grant information. |
| 03/14/2025 | Date of the amended Form 4 filing. |
| 02/26/2026 | Date when 1/4th of the RSUs will vest. |
| 05/26/2026 | Date when the remaining RSUs will begin to vest in equal quarterly installments. |
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