Wheels Up Experience Inc. — Director's Dealing 2021

Jul 15, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Wheels Up Experience Inc. (UP)
CIK: 0001819516
Period of Report: 2021-07-13

Reporting Person: Applbaum Lee D. (Chief Marketing Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-07-13	Stock Option (right to buy)	$7.56	A	34529	Acquired		Class A Common Stock, par value $0.0001 per share (34529)	Direct
2021-07-13	Stock Option (right to buy)	$7.56	A	1150981	Acquired		Class A Common Stock, par value $0.0001 per share (1150981)	Direct

Footnotes

F1: Received in connection with Aspirational Consumer Lifestyle Corp.'s ("Aspirational") business combination transaction with Wheels Up Partners Holdings LLC ("Legacy Wheels Up") in accordance with the terms of the Agreement and Plan of Merger, dated as of February 1, 2021, as amended on May 6, 2021, by and among, inter alia, Aspirational, KittyHawk Merger Sub LLC and Legacy Wheels Up.

F2: 50% of the shares subject to the stock option vested and became exercisable as of July 13, 2021, and the remaining 50% will vest and become exercisable in equal installments on June 25, 2022 and June 25, 2023. The stock option will expire on October 13, 2030.

F3: 25% of the shares subject to the stock option vested and became exercisable as of July 13, 2021, and the remaining 75% will vest in equal installments on July 15, 2021, July 15, 2022 and July 15, 2023. The stock option will expire on November 2, 2030.