Form 4: Wheels Up Experience Inc. Interim CFO Receives Stock Grant

Eric Cabezas, Interim CFO of Wheels Up Experience Inc., was granted 206,588 restricted stock units (RSUs) that will vest in three equal installments.

Summary

• Eric Cabezas, the Interim CFO of Wheels Up Experience Inc., received a grant of 206,588 restricted stock units (RSUs) on October 2, 2024.
• These RSUs will vest in three equal installments on October 2, 2025, October 2, 2026, and October 2, 2027, contingent upon Cabezas' continued service to the company.
• The RSUs will be settled in shares of Class A common stock of Wheels Up Experience Inc. upon vesting.

Sentiment

Score: 7

Explanation: The document indicates standard executive compensation practices, which is generally viewed neutrally to positively. The vesting schedule promotes long-term commitment.

Positives

• The grant of RSUs aligns the Interim CFO's interests with those of the shareholders, incentivizing him to contribute to the company's long-term success.
• The vesting schedule encourages continued service and commitment from the Interim CFO.

Future Outlook

The RSUs will vest over the next three years, subject to the Interim CFO's continued service.

Industry Context

Stock grants are a common form of executive compensation in the aviation industry, aligning management's interests with those of shareholders.

Stakeholder Impact

• Shareholders may view the RSU grant as a positive sign, aligning management's interests with the company's long-term success.
• The Interim CFO is incentivized to remain with the company and contribute to its growth.

Key Dates