Key facts
- This page summarizes Kenneth L. Cornick's Form 4 filing for Clear Secure, Inc. (YOU).
- 6 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 15 Oct 2024, 18:31.
Kenneth L. Cornick - 11 Oct 2024 Form 4 Insider Report for Clear Secure, Inc. (YOU)
- Reporting relationship
- President & CFO, Director, 10%+ Owner
- Issuer ticker
- YOU
- Reported as of
- 11 Oct 2024
- Net transaction value
- -$5,112,000
- SEC form
- 4
- Accepted by SEC
- 15 Oct 2024, 18:31:25 UTC
- Prior SEC filing
- 20 Sep 2024
- Next SEC filing
- 03 Mar 2025
- Source filing
- View source filing
- Reporting owner signature
- /s/ Lynn Haaland, Attorney-in-Fact
Source evidence
Original filing metadata and source links for verification.
5 source fields
Reporting owner
1 detail
Key filing fact
Kenneth L. Cornick filed Form 4 for Clear Secure, Inc. (YOU) on 15 Oct 2024.
Change
- Previous filing in this sequence was filed on 20 Sep 2024.
- Current net transaction value: -$5,112,000.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
YOU
transaction
Class A Common Stock
Sale
- Transaction value
- $5,112,000
- Shares
- -150,000
- Change %
- -100%
- Price
- $34.08
- Shares after
- 0
- Date
- 11 Oct 2024
- Ownership
- See footnote
- Footnotes
- F1, F2, F3, F4
YOU
transaction
Class D Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -150,000
- Change %
- -2.8%
- Price
- Shares after
- 5,266,444
- Date
- 15 Oct 2024
- Ownership
- See footnote
- Footnotes
- F4, F5, F6
YOU
transaction
Class B Common Stock
Award
- Transaction value
- Shares
- +150,000
- Change %
- +120%
- Price
- Shares after
- 275,447
- Date
- 15 Oct 2024
- Ownership
- See footnote
- Footnotes
- F4, F6, F7
YOU
transaction
Class B Common Stock
Disposed to Issuer
- Transaction value
- Shares
- -150,000
- Change %
- -54%
- Price
- Shares after
- 125,447
- Date
- 15 Oct 2024
- Ownership
- See footnote
- Footnotes
- F3, F4, F7
YOU
transaction
Class A Common Stock
Award
- Transaction value
- Shares
- +150,000
- Change %
- Price
- Shares after
- 0
- Date
- 15 Oct 2024
- Ownership
- See footnote
- Footnotes
- F3, F4
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
YOU
transaction
Derivative
Non-voting common units of Alclear Holdings, LLC
Disposed to Issuer
- Transaction value
- Shares
- -150,000
- Change %
- -2.8%
- Price
- Shares after
- 5,266,444
- Date
- 15 Oct 2024
- Ownership
- See footnote
- Underlying class
- Class B Common Stock and Class A Common Stock
- Underlying amount
- 150,000
- Exercise price
- Footnotes
- F4, F6
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Rule 10b5-1 trading plan
These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.
Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).
Explanation of responses 7 footnotes
Footnote F1
This transaction was automatically effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on March 12, 2024.
Footnote F2
The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $34.00 to $34.19, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, and the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.
Footnote F3
Pursuant to the terms of the Issuer's Certificate of Incorporation, each share of Class B common stock of the Issuer ("Class B Common Stock") was converted into a share of Class A common stock of the Issuer ("Class A Common Stock") on a one-for-one basis. The resulting shares of Class A Common Stock were used to settle the sale transaction described above, and so after the transactions reported in this Form 4, no shares of Class A Common Stock are held.
Footnote F4
Alclear Investments II, LLC is controlled by Mr. Cornick, its sole manager, who has dispositive control and voting control over the shares held by Alclear Investments II, LLC.
Footnote F5
Shares of Class D Common Stock of the Issuer ("Class D Common Stock") have 20 votes per share but no economic rights (including rights to dividends and distributions upon liquidation) and are issued in an equal amount to the number of non-voting common units ("Common Units") of Alclear Holdings, LLC ("Alclear") held.
Footnote F6
Pursuant to the terms of the Exchange Agreement, dated June 29, 2021, by and among the Issuer, Alclear and the equityholders of Alclear (the "Exchange Agreement"), Common Units, together with a corresponding number of shares of Class D Common Stock, were exchanged for Class B Common Stock on a one-for-one basis. The exchange rights under the Exchange Agreement do not expire.
Footnote F7
Shares of Class B Common Stock have 20 votes per share and economic rights (including rights to dividends and distributions upon liquidation).