Form 4: Alclear Investments II, LLC Executes Stock Sale and Conversion Plan in Clear Secure, Inc. (YOU)
SEC Form 4
Alclear Investments II, LLC reports a series of transactions involving Clear Secure, Inc. stock, including a sale of Class A Common Stock, conversions of Class B Common Stock, and exchanges of Common Units for Class B Common Stock.
Summary
- Alclear Investments II, LLC, a 10% owner and entity related to a director of Clear Secure, Inc., filed a Form 4 detailing changes in beneficial ownership.
- On September 9, 2024, Alclear sold 227,021 shares of Class A Common Stock at a weighted average price of $31.05 per share, ranging from $31.00 to $31.30.
- This sale was executed under a pre-existing Rule 10b5-1 trading plan adopted on March 12, 2024.
- On September 10, 2024, 227,021 shares of Class B Common Stock were converted into Class A Common Stock on a one-for-one basis.
- Also on September 10, 2024, 227,021 Common Units of Alclear Holdings, LLC, along with a corresponding number of Class D Common Stock, were exchanged for Class B Common Stock.
- Following these transactions, Alclear Investments II, LLC holds 5,939,423 shares of Class B Common Stock and no shares of Class A Common Stock.
- The reporting person may be deemed a director by deputization due to their relationship with Kenneth Cornick, the sole manager of Alclear Investments II, LLC.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing primarily reports transactions executed under a pre-existing plan. There is no indication of positive or negative implications for the company's performance.
Industry Context
This filing reflects insider activity related to Clear Secure, Inc., a company in the secure identity and access management sector. Such filings are common and provide transparency into the transactions of significant shareholders and related parties.
Related Party Transactions
- The filing details transactions between Clear Secure, Inc. and Alclear Investments II, LLC, which has a relationship with a director of Clear Secure, Inc.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the sale of shares, but the pre-planned nature of the transactions mitigates potential concerns.
Key Dates
| Date | Description |
|---|---|
| 2021-06-29 | Date of the Exchange Agreement between the Issuer, Alclear, and the equityholders of Alclear. |
| 2024-03-12 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 2024-09-09 | Date of the sale of Class A Common Stock. |
| 2024-09-10 | Date of the conversion of Class B Common Stock to Class A Common Stock and the exchange of Common Units for Class B Common Stock. |
| 2024-09-11 | Date of signature of the Form 4 filing. |
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