Form 4: Alclear Investments Sells Clear Secure Class A Shares

Alclear Investments, LLC, a 10% owner and director of Clear Secure, Inc., reported significant sales of Class A Common Stock totaling 325,676 shares through a pre-arranged 10b5-1 trading plan.

Summary

• Alclear Investments, LLC, a director and 10% owner of Clear Secure, Inc. (YOU), reported a series of transactions involving the sale of Class A Common Stock.
• A total of 325,676 shares of Class A Common Stock were sold across multiple transactions on March 2, 2026, and March 3, 2026.
• The sales were executed at weighted average prices ranging from $48.36 to $50.14 per share.
• These transactions were automatically effected pursuant to a Rule 10b5-1 trading plan adopted by Alclear Investments, LLC on November 20, 2025.
• On March 4, 2026, 325,676 non-voting common units of Alclear Holdings, LLC, along with a corresponding number of Class D Common Stock shares, were exchanged for Class B Common Stock on a one-for-one basis.
• Immediately following this exchange, the 325,676 shares of Class B Common Stock were converted into Class A Common Stock on a one-for-one basis, and these resulting Class A shares were used to settle the reported sale transactions.
• After these transactions, Alclear Investments, LLC holds 0 shares of Class A Common Stock directly, but retains beneficial ownership of 18,804,570 non-voting common units of Alclear Holdings, LLC.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a moderately negative signal due to the significant reduction in direct insider ownership, despite the sales being executed under a pre-planned 10b5-1 trading plan, which mitigates the immediate concern of opportunistic selling.

Positives

• The transactions were conducted under a Rule 10b5-1 trading plan, indicating that the sales were pre-scheduled and not based on immediate, non-public information, which enhances transparency and regulatory compliance.

Negatives

• A significant reduction in direct Class A Common Stock ownership by a 10% owner and director could be perceived negatively by the market, potentially signaling reduced alignment with long-term shareholder interests or a lack of confidence in the company's near-term prospects.

Risks

• The substantial insider selling, even if pre-planned, carries the risk of negative market perception and potential downward pressure on the stock price as investors may interpret it as a bearish signal.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that insider selling, even when executed under a Rule 10b5-1 plan, is closely watched by investors. While the plan itself indicates pre-planning and not a reaction to immediate non-public news, the sheer volume of shares sold by a significant insider like Alclear Investments, LLC can still influence market sentiment regarding the company's valuation or future prospects, potentially leading to increased scrutiny compared to peers with stable or increasing insider ownership.

Corporate Governance

Related Party Transactions

• The exchange of Common Units of Alclear Holdings, LLC and Class D Common Stock for Class B Common Stock, and subsequent conversion to Class A Common Stock, occurred pursuant to the Exchange Agreement dated June 29, 2021, between the Issuer, Alclear, and Alclear's equity holders. Alclear Investments, LLC is a related party.

Stakeholder Impact

• Shareholders may interpret the significant insider selling as a negative signal, potentially impacting investor confidence and the company's stock valuation.
• The transparency provided by the 10b5-1 plan may reassure some stakeholders that the sales were not based on undisclosed negative information.

Key Dates

Recommendation

The significant insider selling by Alclear Investments, LLC, a 10% owner and director, reduces insider ownership and could be perceived negatively by the market. However, the transactions were executed under a pre-arranged 10b5-1 trading plan, suggesting the sales were not based on new, non-public information. Investors should monitor future insider activity and company performance for further signals before making a definitive buy or sell decision.

Keywords

Clear Secure, YOU, Alclear Investments, Form 4, insider trading, stock sale, 10b5-1 plan, Class A Common Stock, beneficial ownership, corporate governance