Form 4: Alclear Investments II, LLC Reduces Stake in Clear Secure, Inc. Following Class B to Class A Common Stock Conversion
SEC Form 4 Filing
Alclear Investments II, LLC, a 10% owner and director by deputization of Clear Secure, Inc., reports the sale of Class A Common Stock and conversion of Class B Common Stock into Class A Common Stock, resulting in adjustments to their holdings.
Summary
- Alclear Investments II, LLC filed a Form 4 detailing changes in their beneficial ownership of Clear Secure, Inc. securities.
- On September 16, 2024, Alclear Investments II, LLC sold 122,579 shares of Class A Common Stock at a weighted average price of $31.04 per share.
- On September 18, 2024, 122,579 shares of Class D Common Stock and non-voting common units of Alclear Holdings, LLC were exchanged for Class B Common Stock.
- Also on September 18, 2024, 122,579 shares of Class B Common Stock were converted into Class A Common Stock on a one-for-one basis and used to settle the sale transaction.
- Following these transactions, Alclear Investments II, LLC holds 5,816,444 shares of Class D Common Stock and 248,026 shares of Class B Common Stock.
- After the transactions, Alclear Investments II, LLC no longer holds any shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing transactions by a significant shareholder. It doesn't inherently convey positive or negative sentiment, but rather reports factual changes in ownership.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's stock. This filing indicates changes in Alclear Investments II, LLC's holdings in Clear Secure, Inc.
Stakeholder Impact
- The sale of shares by a significant shareholder could potentially influence the market's perception of the company.
- The conversion of Class B shares to Class A shares has implications for the voting rights and economic interests of the involved parties.
Key Dates
| Date | Description |
|---|---|
| 2021-06-29 | Date of the Exchange Agreement among the Issuer, Alclear, and the equityholders of Alclear. |
| 2024-03-12 | Date the Rule 10b5-1 trading plan was adopted by the reporting person. |
| 2024-09-16 | Date of the sale of Class A Common Stock. |
| 2024-09-18 | Date of the exchange of Class D Common Stock and Common Units for Class B Common Stock and the conversion of Class B Common Stock to Class A Common Stock. |
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