Mark Briffa, Chief Sales Officer at Wheels Up Experience Inc. (NASDAQ:UP), sold shares of the company’s Class A Common Stock on May 13, 2026.
According to a recent SEC Form 4 filing, Briffa disposed of 3,804 shares at a price of $4.99 per share, totaling $18,981. The price is a weighted average, and shares were sold at $4.99 each. The sale occurred as the stock trades near its 52-week low of $4.69, down 84% over the past year.
Following this sale, Briffa directly holds 82,003 shares. The amount reflects adjustments after the company’s 1-for-20 reverse stock split on April 24, 2026. According to Bond.az analysis, the stock appears undervalued at current levels.
In other news, Wheels Up secured a $68 million mezzanine facility with Sankaty Jet Capital, backed by 51 existing aircraft appraised at $277.8 million. The financing will support fleet modernization, including acquisition of Phenom 300 and Challenger 300 aircraft.
Wheels Up also completed its transition to exclusively operate Phenom 300 and Challenger 300 aircraft, 18 months ahead of schedule. The company appointed Erik Snell, Delta Air Lines’ EVP and CFO, to its board. The 1-for-20 reverse stock split became effective April 24, 2026.
