Form 4: Clear Secure Grants Equity to GC & Chief Privacy Officer

Clear Secure, Inc. disclosed an equity grant of Restricted Stock Units and Performance Stock Units to Lynn Haaland, GC & Chief Privacy Officer.

Summary

• Lynn Haaland, General Counsel and Chief Privacy Officer of Clear Secure, Inc., was granted equity awards on March 10, 2026.
• The grant includes 18,666 Restricted Stock Units (RSUs), which represent a contingent right to receive Class A Common Stock.
• These RSUs will vest in equal annual installments on March 10, 2027, 2028, and 2029, contingent on continued service.
• Additionally, 9,333 Performance Restricted Stock Units (PSUs) were granted, representing the minimum number of shares that can be earned.
• The PSUs will cliff vest on March 10, 2029, following a three-year performance period ending December 31, 2028, also subject to continued service.
• The final number of shares from PSUs may exceed 9,333 based on actual performance during the period.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, representing a routine disclosure of executive compensation. It does not indicate significant positive or negative operational or financial news for the company.

Positives

• The equity grants align the interests of a key executive, Lynn Haaland, with those of shareholders, incentivizing long-term performance and retention.
• The structure of the PSUs, tied to a three-year performance period, encourages the achievement of strategic company goals.

Future Outlook

The future outlook involves the vesting of these equity awards over the next three years, contingent on Lynn Haaland's continued service and the company's performance for the PSUs. The ultimate value of these awards will depend on Clear Secure's stock price and performance metrics.

Industry Context

StockSavvy.ai notes that equity grants, such as RSUs and PSUs, are a standard component of executive compensation packages across various industries, particularly in technology and growth-oriented companies. This practice aims to align executive incentives with long-term shareholder value creation and to retain key talent. The structure with performance-based vesting is common for senior leadership roles.

Comparison to Industry Standards

• Equity compensation for General Counsel and Chief Privacy Officer roles, including a mix of time-based RSUs and performance-based PSUs, is a common practice among publicly traded companies, particularly those in the technology and data-intensive sectors like Clear Secure.
• The vesting schedule for RSUs (equal annual installments over three years) and PSUs (cliff vesting after a three-year performance period) is consistent with typical industry standards designed for executive retention and long-term performance alignment.

Stakeholder Impact

• Shareholders: The grants represent potential future dilution as shares are issued upon vesting, but also aim to align executive incentives with shareholder interests.
• Employees: This compensation structure for a senior executive may set a precedent or reflect the company's overall approach to executive incentives.

Next Steps

• Vesting of 18,666 RSUs in equal annual installments on March 10, 2027, 2028, and 2029.
• Determination of actual performance for PSUs at the end of the performance period on December 31, 2028.
• Cliff vesting of PSUs on March 10, 2029, with the final number of shares potentially exceeding 9,333 based on performance.

Key Dates

Keywords

Clear Secure, YOU, SEC Form 4, insider transaction, equity grant, Restricted Stock Units, RSU, Performance Stock Units, PSU, executive compensation, corporate governance