Delta Air Lines, Inc. - Nov 15, 2023 Form 4 Insider Report for Wheels Up Experience Inc. (UP)

Role
10%+ Owner
Signature
By: /s/ Peter W. Carter, Executive Vice President - External Affairs of Delta Air Lines, Inc.
Stock symbol
UP
Transactions as of
Nov 15, 2023
Transactions value $
$0
Form type
4
Date filed
11/17/2023, 04:30 PM
Previous filing
Sep 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % Price $ Shares After Date Ownership Footnotes
transaction UP Class A Common Stock Other +198 M +300.48% 263 M Nov 15, 2023 Direct F1, F2

Explanation of Responses:

Id Content
F1 On November 15, 2023 (the "Closing Date"), Wheels Up Experience Inc. (the "Issuer") issued to the Reporting Person 197,606,206 shares of the Issuer's Class A common stock, par value $0.0001 per share, pursuant to the terms of that certain Investment and Investor Rights Agreement, dated September 20, 2023 and amended as of the Closing Date, by and among the Issuer, the Reporting Person and certain other investors party thereto (collectively with the Reporting Person, the "Investors"), in consideration of the extension of credit under that certain Credit Agreement, dated September 20, 2023 and amended as of the Closing Date, by and among the Issuer, as borrower, certain subsidiaries of the Issuer as guarantors, and the Investors party thereto.
F2 Amount of securities has been adjusted to reflect the 10:1 reverse stock split that occurred on June 7, 2023.