Wheels Up Files 8-K on Officer/Director Changes, Comp Arrangements
Ticker: WSUPW · Form: 8-K · Filed: Feb 5, 2024 · CIK: 1819516
| Field | Detail |
|---|---|
| Company | Wheels Up Experience Inc. (WSUPW) |
| Form Type | 8-K |
| Filed Date | Feb 5, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.0001, $475,000 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: corporate-governance, executive-changes, compensation
TL;DR
**Wheels Up filed an 8-K about executive changes and pay, watch for details.**
AI Summary
Wheels Up Experience Inc. filed an 8-K on February 5, 2024, reporting an event that occurred on February 1, 2024. This filing primarily covers the departure or election of directors or officers, compensatory arrangements, and Regulation FD disclosure. While the specific details of these changes are not provided in the excerpt, such filings are crucial for investors as they signal potential shifts in leadership or executive compensation, which can impact the company's strategic direction and financial health. Investors should monitor subsequent filings for the specific personnel changes and compensation details.
Why It Matters
Changes in leadership or executive compensation can significantly influence a company's future performance and strategic direction, directly affecting shareholder value.
Risk Assessment
Risk Level: medium — The filing indicates significant corporate governance changes (officer/director departures/appointments and compensation), which can introduce uncertainty or signal strategic shifts.
Analyst Insight
A smart investor would closely monitor Wheels Up Experience Inc.'s subsequent filings and news releases for the specific names of departing/appointed officers and directors, as well as the details of any new compensatory arrangements, to assess the potential impact on company strategy and financial outlook.
Key Players & Entities
- Wheels Up Experience Inc. (company) — the registrant filing the 8-K
- 001-39541 (dollar_amount) — Commission File Number
- 98-1617611 (dollar_amount) — I.R.S. Employer Identification No.
- February 1, 2024 (date) — Date of earliest event reported
- February 5, 2024 (date) — Date the 8-K was filed
Forward-Looking Statements
- Wheels Up Experience Inc. will provide specific details regarding the personnel changes and compensatory arrangements in a subsequent filing or press release. (Wheels Up Experience Inc.) — high confidence, target: Q1 2024
FAQ
What specific items are reported in this 8-K filing by Wheels Up Experience Inc.?
This 8-K filing by Wheels Up Experience Inc. reports on 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers', 'Compensatory Arrangements of Certain Officers', and 'Regulation FD Disclosure', as well as 'Financial Statements and Exhibits'.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing occurred on February 1, 2024.
What is the business address of Wheels Up Experience Inc. as stated in the filing?
The business address of Wheels Up Experience Inc. is 601 West 26th Street, Suite 900, New York, New York 10001.
What is the Commission File Number for Wheels Up Experience Inc.?
The Commission File Number for Wheels Up Experience Inc. is 001-39541.
What was the former name of Wheels Up Experience Inc. and when did the name change occur?
The former name of Wheels Up Experience Inc. was Aspirational Consumer Lifestyle Corp., and the date of the name change was 20200729 (July 29, 2020).
Filing Stats: 1,252 words · 5 min read · ~4 pages · Grade level 12.4 · Accepted 2024-02-05 09:17:48
Key Financial Figures
- $0.0001 — hich registered Class A common stock, $0.0001 par value per share UP New York Stock E
- $475,000 — pay Mr. Holtz an annual base salary of $475,000, which will be prorated for 2024 based
Filing Documents
- up-20240201.htm (8-K) — 46KB
- ex-101xholtzofferletterdat.htm (EX-10.1) — 26KB
- ex-991xpressreleasedatedfe.htm (EX-99.1) — 15KB
- image_1a.jpg (GRAPHIC) — 147KB
- 0001819516-24-000003.txt ( ) — 428KB
- up-20240201.xsd (EX-101.SCH) — 2KB
- up-20240201_lab.xml (EX-101.LAB) — 24KB
- up-20240201_pre.xml (EX-101.PRE) — 13KB
- up-20240201_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On February 5, 2024, the Company issued a press release regarding operational leadership changes, a copy of which is furnished as Exhibit 99.1 and incorporated by reference herein. The information in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.1 is being furnished pursuant to Item 7.01 of Form 8-K and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in such filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 10.1 Offer Letter, dated February 1, 2024, by and between David Holtz and Wheels Up Partners LLC 99.1 Press Release, dated February 5, 2024 104 Cover Page Interactive Data File ( embedded within the Inline XBRL document ) Identifies each management contract or compensatory plan or arrangement. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. WHEELS UP EXPERIENCE INC . Date: February 5, 2024 By: /s/ George Mattson Name: George Mattson Title: Chief Executive Officer