Form 4: Clear Secure Inc. President and CFO Kenneth L. Cornick Sells Shares Under 10b5-1 Plan

Kenneth L. Cornick, President and CFO of Clear Secure, Inc., sold 79,935 shares of Class A Common Stock at a weighted average price of $30.04 on August 29, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On August 29, 2024, Kenneth L. Cornick, the President and CFO of Clear Secure, Inc. (YOU), sold 79,935 shares of Class A Common Stock.
• The sale was executed at a weighted average price of $30.04 per share.
• The transactions occurred within a price range of $30.00 to $30.22.
• The sale was conducted under a pre-existing Rule 10b5-1 trading plan adopted on March 12, 2024.
• Following the transaction, Cornick directly owns 0 shares and indirectly owns 79,935 shares through a Family Revocable Trust.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reports a routine transaction under a pre-existing trading plan. It doesn't inherently indicate positive or negative sentiment about the company's prospects.

Industry Context

Sales by company insiders are a common occurrence and are often pre-planned through Rule 10b5-1 trading plans to avoid accusations of trading on material non-public information. The market typically analyzes these sales in the context of the company's overall performance and future prospects.

Stakeholder Impact

• The sale of shares by a high-ranking executive could be perceived negatively by some shareholders, potentially leading to concerns about the executive's confidence in the company's future performance.
• However, the existence of a pre-arranged trading plan mitigates this concern to some extent.

Key Dates