CMO of Wheels Up (NYSE: UP) reports 653-share tax withholding event
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Wheels Up Experience Inc. Chief Marketing Officer Kristen Lauria reported a routine tax-withholding transaction related to equity compensation. On this Form 4, 653 shares of Class A common stock were withheld at $5.03 per share to cover tax liability from vested restricted stock units under the company’s 2021 Long-Term Incentive Plan.
After this withholding, Lauria directly holds 82,703 shares of Class A common stock, adjusted for the company’s 1-for-20 reverse stock split that occurred on April 24, 2026. This filing reflects compensation-related share withholding rather than an open-market purchase or sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Lauria Kristen
Role
Chief Marketing Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Class A Common Stock, par value $0.0001 per share | 653 | $5.03 | $3K |
Holdings After Transaction:
Class A Common Stock, par value $0.0001 per share — 82,703 shares (Direct, null)
Footnotes (1)
- Represents shares of Class A common stock, par value $0.0001 per share ("Common Stock"), of Wheels Up Experience Inc. (the "Issuer") that were withheld for the payment of tax liability arising as a result of the vesting of restricted stock units granted under the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan, as amended and restated April 1, 2023 (as amended by Amendment No. 1 thereto, effective April 15, 2024, and Amendment No. 2 thereto, effective March 26, 2025), which were originally reported by the Reporting Person in a Form 3 filed with the U.S. Securities and Exchange Commission on June 5, 2023. Amount of securities has been adjusted to reflect the Issuer's 1-for-20 reverse stock split that occurred on April 24, 2026.
Key Figures
Shares withheld for taxes: 653 shares
Withholding price per share: $5.03 per share
Shares held after transaction: 82,703 shares
+2 more
5 metrics
Shares withheld for taxes
653 shares
Tax-withholding disposition on May 15, 2026
Withholding price per share
$5.03 per share
Value used for tax-withholding shares
Shares held after transaction
82,703 shares
Direct Class A holdings following withholding
Tax-withholding shares in summary
653 shares
Reported as tax withholding in transactionSummary
Reverse stock split ratio
1-for-20
Reverse split occurred on April 24, 2026
Key Terms
restricted stock units, tax liability, Long-Term Incentive Plan, reverse stock split, +1 more
5 terms
restricted stock units financial
"vesting of restricted stock units granted under the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax liability financial
"shares ... were withheld for the payment of tax liability arising as a result of the vesting"
Long-Term Incentive Plan financial
"granted under the Wheels Up Experience Inc. 2021 Long-Term Incentive Plan, as amended and restated April 1, 2023"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
reverse stock split financial
"adjusted to reflect the Issuer's 1-for-20 reverse stock split that occurred on April 24, 2026"
A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.
Class A common stock financial
"Represents shares of Class A common stock, par value $0.0001 per share"
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
What did Kristen Lauria report in Wheels Up (UP) Form 4?
Kristen Lauria reported a compensation-related share withholding. 653 Wheels Up Class A shares were withheld to satisfy tax liabilities from vested restricted stock units granted under the 2021 Long-Term Incentive Plan, rather than being sold in the open market.
Was Kristen Lauria’s Wheels Up (UP) Form 4 an open-market sale?
No, the Form 4 does not show an open-market sale. The 653 shares were withheld by Wheels Up solely to cover tax liabilities from vested restricted stock units, a non-market, compensation-related disposition rather than a discretionary sale of shares.
How does the reverse stock split affect the holdings in Wheels Up (UP)?
The filing notes that amounts were adjusted for a 1-for-20 reverse stock split on April 24, 2026. This means prior share counts were consolidated, so the 82,703 shares now reported represent post-split holdings, giving an accurate, current view of Kristen Lauria’s position.