Form 4: Clear Secure Inc. Executive Kenneth L. Cornick Reports Stock Transactions

Kenneth L. Cornick, President & CFO of Clear Secure, Inc., reports the sale and acquisition of Class A, B, and D Common Stock, including transactions pursuant to a Rule 10b5-1 trading plan.

Summary

• Kenneth L. Cornick, President & CFO of Clear Secure, Inc., filed a Form 4 detailing changes in beneficial ownership.
• On September 10, 2024, Mr. Cornick sold 400 shares of Class A Common Stock at $31 per share.
• On September 12, 2024, there were multiple transactions involving Class D and Class B Common Stock related to the exchange of non-voting common units of Alclear Holdings, LLC.
• These transactions were conducted pursuant to a Rule 10b5-1 trading plan adopted on March 12, 2024.
• Following these transactions, Mr. Cornick indirectly owns 5,939,023 shares of Class D Common Stock, 125,447 shares of Class B Common Stock, and no shares of Class A Common Stock directly.
• The shares are held indirectly through Alclear Investments II, LLC, which Mr. Cornick controls.

Sentiment

Score: 5

Explanation: The document is a routine disclosure of stock transactions by an executive, with no inherent positive or negative sentiment. The transactions are part of a pre-arranged trading plan.

Industry Context

Form 4 filings are standard disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to monitor potential alignment or misalignment of interests between management and shareholders.

Stakeholder Impact

• The transactions may provide insights to shareholders regarding the executive's view of the company's stock value.
• The pre-planned nature of the transactions mitigates concerns about insider trading.

Key Dates