Form 4: Alclear Investments II, LLC Reduces Stake in Clear Secure, Inc.

Alclear Investments II, LLC, a 10% owner and related to a director of Clear Secure, Inc., reports the sale and conversion of Class A and Class B common stock.

Summary

• Alclear Investments II, LLC filed a Form 4 detailing changes in beneficial ownership of Clear Secure, Inc. stock.
• On May 14, 2025, Alclear sold 315,591 shares of Class A Common Stock at a weighted average price of $25.02.
• On May 15, 2025, Alclear sold 291,466 shares of Class A Common Stock at a weighted average price of $25.05.
• Shares were sold in multiple transactions ranging from $25.00 to $25.10 and $25.00 to $25.20.
• Class B common stock was converted into Class A common stock on a one-for-one basis to settle the sale transactions.
• Common Units, along with Class D Common Stock, were exchanged for Class B Common Stock on a one-for-one basis according to the Exchange Agreement.
• After the reported transactions, Alclear Investments II, LLC holds 4,841,444 shares of Class D Common Stock and 315,591 shares of Class B Common Stock.
• Alclear Investments II, LLC holds 4,549,978 shares of Class D Common Stock and 291,466 shares of Class B Common Stock.

Sentiment

Score: 4

Explanation: The sentiment is neutral to slightly negative. While the filing itself is a standard regulatory requirement, the sale of shares by a significant owner could be interpreted as a lack of confidence or a strategic portfolio adjustment. The conversion of shares is a technicality related to the sale.

Negatives

• Alclear Investments II, LLC reduced its holdings in Clear Secure, Inc. through the sale of Class A Common Stock.

Risks

• Continued sales by Alclear Investments II, LLC could put downward pressure on the stock price.
• The relationship between Alclear Investments II, LLC and Kenneth Cornick could lead to potential conflicts of interest.

Industry Context

Form 4 filings are a routine part of the regulatory landscape, providing transparency into the trading activities of company insiders and significant shareholders. These filings are closely watched by investors seeking to understand the sentiment and actions of those with the most intimate knowledge of the company.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their insiders.
• The reported transactions are typical for large shareholders adjusting their positions.
• Comparable companies would also have similar filings when insiders or large shareholders trade their stock.

Stakeholder Impact

• Shareholders may react to the sale of shares by a significant owner, potentially impacting the stock price.
• The transactions do not appear to directly impact employees, customers, suppliers, or creditors.

Key Dates

Keywords

Clear Secure, Inc., Alclear Investments II, LLC, Form 4, Beneficial Ownership, Class A Common Stock, Class B Common Stock, Class D Common Stock, Sale of Shares, Conversion, Exchange Agreement