Form 4: Clear Secure Inc. President and CFO Kenneth Cornick Executes Stock Sale and Conversion

Kenneth L. Cornick, President and CFO of Clear Secure, Inc., sold 122,579 shares of Class A Common Stock and converted Class B Common Stock into Class A Common Stock to settle the sale.

Summary

• On September 16, 2024, Kenneth L. Cornick, President and CFO of Clear Secure, Inc., sold 122,579 shares of Class A Common Stock at a weighted average price of $31.04.
• The sale was executed automatically under a pre-arranged Rule 10b5-1 trading plan adopted on March 12, 2024.
• On September 18, 2024, Cornick converted 122,579 shares of Class B Common Stock into Class A Common Stock on a one-for-one basis.
• These Class A shares were used to settle the sale transaction.
• Additionally, 122,579 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.
• Following these transactions, Cornick directly holds no shares of Class A Common Stock.
• Cornick indirectly holds 5,816,444 shares of Class B Common Stock and 248,026 shares of Class B Common Stock through Alclear Investments II, LLC, where he is the sole manager.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reflects routine insider trading activity under a pre-arranged plan. There is no indication of positive or negative implications for the company's performance.

Industry Context

This filing is a routine disclosure of insider trading activity, which is common among publicly traded companies. Investors often monitor these filings to understand management's sentiment and potential future actions.

Stakeholder Impact

• The sale of shares by a key executive could be perceived negatively by some shareholders, but the existence of a pre-arranged trading plan mitigates this concern.

Key Dates