Form 4: Clear Secure, Inc. Executive Dennis W. Liu Reports Acquisition of Restricted Stock Units

Dennis W. Liu, Chief Accounting Officer of Clear Secure, Inc., reports the acquisition of 32,906 restricted stock units (RSUs) on September 1, 2024.

Summary

• On September 1, 2024, Dennis W. Liu, the Chief Accounting Officer of Clear Secure, Inc., acquired 32,906 restricted stock units (RSUs).
• Each RSU represents a contingent right to receive one share of Class A Common Stock of the Issuer following the vesting date.
• The RSUs will vest in three equal annual installments on September 1, 2025, 2026, and 2027, contingent upon Mr. Liu's continued service with the company.
• Following this transaction, Mr. Liu beneficially owns 32,906 derivative securities in the form of RSUs.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a routine executive compensation disclosure. The vesting schedule is a positive sign for retention.

Positives

• The vesting schedule incentivizes continued service of the Chief Accounting Officer.

Future Outlook

The RSUs will vest over the next three years, incentivizing continued service from the Chief Accounting Officer.

Industry Context

This is a standard practice for incentivizing and retaining key executives in publicly traded companies.

Comparison to Industry Standards

• Granting restricted stock units to executives is a common practice among publicly traded companies to align their interests with those of shareholders.
• Companies like Palantir, Snowflake, and Datadog also use RSUs as part of their compensation packages for key personnel.
• The vesting schedules, typically ranging from three to five years, are designed to encourage long-term commitment and performance.

Stakeholder Impact

• The RSU grant aligns the executive's interests with those of the shareholders by incentivizing long-term value creation.

Key Dates