Form 4: Wheels Up Officer's RSU Tax Withholding
Insider Transaction Report
Wheels Up Chief Sales Officer Mark Briffa disposed of 4,958 shares of Class A Common Stock to cover tax obligations related to RSU vesting.
Summary
- Mark Briffa, Chief Sales Officer of Wheels Up Experience Inc., reported a disposition of 4,958 shares of Class A Common Stock.
- The transaction occurred on February 23, 2026, at a price of $0.62 per share.
- These shares were withheld by the issuer for the payment of tax liability arising from the vesting of restricted stock units (RSUs).
- The RSUs were granted under the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan, which has been amended and restated.
- Following this transaction, Mark Briffa beneficially owns 856,585 shares of Class A Common Stock directly.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this filing as neutral. It reports a routine administrative transaction related to executive compensation and does not indicate any new operational or strategic developments for Wheels Up Experience Inc.
Future Outlook
The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.
Industry Context
StockSavvy.ai notes that this Form 4 filing details a routine insider transaction related to executive compensation. The disposition of shares to cover tax liabilities upon RSU vesting is a common practice across various industries, reflecting the standard mechanics of equity-based incentive plans.
Comparison to Industry Standards
- This type of transaction, where shares are withheld by the issuer to satisfy tax obligations upon the vesting of restricted stock units, is a standard and widely accepted practice in executive compensation across publicly traded companies globally.
- It aligns with common compensation structures seen in technology and service-oriented companies, where equity awards are a significant component of executive pay.
Stakeholder Impact
- Shareholders: A minor reduction in direct insider ownership, but this is a routine tax-related disposition and not indicative of a lack of confidence or a strategic shift.
Key Dates
| Date | Description |
|---|---|
| 04/01/2023 | Effective date of the amended and restated Wheels Up Experience Inc. 2021 Long-Term Incentive Plan. |
| 06/02/2023 | Date of original Form 4 filing reporting the grant of Restricted Stock Units (RSUs) to Mark Briffa. |
| 04/15/2024 | Effective date of Amendment No. 1 to the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan. |
| 03/26/2025 | Effective date of Amendment No. 2 to the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan. |
| 02/23/2026 | Transaction date for the disposition of shares to cover tax liability from RSU vesting. |
| 02/25/2026 | Date the Form 4 was signed by the attorney-in-fact for Mark Briffa. |
Keywords
Wheels Up Experience Inc., UP, Form 4, Insider Transaction, Restricted Stock Units, RSU, Tax Withholding, Executive Compensation
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