Form 4: Wheels Up Executive David Godsman Receives Stock Grant

David Godsman, Chief Digital Officer of Wheels Up Experience Inc., reports the acquisition of 145,053 shares of Class A Common Stock through a restricted stock unit (RSU) grant.

Summary

• David Godsman, the Chief Digital Officer of Wheels Up Experience Inc., filed a Form 4 disclosing changes in beneficial ownership.
• The report details the acquisition of 145,053 shares of Class A Common Stock on June 6, 2024, through a grant of restricted stock units (RSUs).
• These RSUs will vest over time, with 1/4th vesting on February 26, 2025, and the remaining vesting in 12 equal quarterly installments starting May 26, 2025, contingent upon continued service to the Issuer.
• Following the reported transaction, Godsman directly owns 257,990 shares of Class A Common Stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive.

Positives

• The RSU grant aligns the executive's interests with the company's long-term performance, incentivizing continued service and contribution.

Future Outlook

The vesting schedule of the RSUs extends into the future, contingent on the Reporting Person's continued service to the Issuer.

Industry Context

Executive compensation through stock grants is a common practice in the industry to align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock grants are a typical component of executive compensation packages in publicly traded companies, including those in the aviation and travel sectors.
• Companies like Delta Air Lines, United Airlines, and JetBlue also utilize stock-based compensation to incentivize their executives.
• The vesting schedules and amounts of stock grants vary based on company size, performance, and individual executive roles.

Stakeholder Impact

• The RSU grant aligns the executive's interests with those of shareholders, potentially driving long-term value creation.

Key Dates