Alclear Investments sells Clear Secure Class A shares

Alclear Investments, LLC, a major holder of Clear Secure, Inc., reported planned insider trades and related equity exchanges.

Rhea-AI Filing Summary

Alclear Investments, LLC, a major holder of Clear Secure, Inc., reported planned insider trades and related equity exchanges. Under a previously adopted Rule 10b5-1 trading plan, it sold a total of 325,676 shares of Class A Common Stock on March 2–3 at weighted-average prices generally around $48–$50 per share.

To facilitate these sales, Alclear exchanged Common Units and matching Class D Common Stock for Class B Common Stock on a one-for-one basis, then converted Class B into Class A, also one-for-one, to settle the sales. After these transactions, Alclear reported holding 18,804,570 non-voting common units and Class D shares and 351,787 shares of Class B Common Stock, with no Class A shares remaining.

Insider Trade Summary

Net Seller: 325,676 shares

Net Sell 10 txns

Insider Alclear Investments, LLC

Role Director, 10% Owner

Sold 325,676 shs ($15.95M)

Type	Security	Shares	Price	Value
Disposition	Non-voting common units of Alclear Holdings, LLC	325,676	$0.00	$0.00
Disposition	Class D Common Stock	325,676	$0.00	$0.00
Grant/Award	Class B Common Stock	325,676	$0.00	$0.00
Disposition	Class B Common Stock	325,676	$0.00	$0.00
Grant/Award	Class A Common Stock	325,676	$0.00	$0.00
Sale	Class A Common Stock	51,200	$48.68	$2.49M
Sale	Class A Common Stock	137,632	$49.48	$6.81M
Sale	Class A Common Stock	14,400	$50.14	$722K
Sale	Class A Common Stock	121,645	$48.36	$5.88M
Sale	Class A Common Stock	799	$49.02	$39K

Holdings After Transaction: Non-voting common units of Alclear Holdings, LLC — 18,804,570 contracts (Direct); Class D Common Stock — 18,804,570 shares (Direct); Class B Common Stock — 351,787 shares (Direct); Class A Common Stock — 325,676 shares (Direct)

Footnotes (10)

1. F1. These transactions were automatically effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on November 20, 2025.
2. F2. These shares were sold in multiple transactions ranging from $48.00 to $48.92. 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 set forth in this footnote and in footnotes 4, 5, 6 and 7.
3. 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.
4. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $49.00 to $49.03, inclusive.
5. F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $48.06 to $48.99, inclusive.
6. F6. The price report in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $49.00 to $49.99, inclusive.
7. F7. The price report in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $50.00 to $50.31, inclusive.
8. F8. Shares of 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 Common Units held.
9. F9. Pursuant to the terms of the Exchange Agreement, dated June 29, 2021, by and among the Issuer, Alclear and the equity holders 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.
10. F10. Shares of Class B common stock of the Issuer ("Class B Common Stock") have 20 votes per share and economic rights (including rights to dividends and distributions upon liquidation).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Alclear Investments report in Clear Secure (YOU)?

Alclear Investments reported selling 325,676 shares of Clear Secure Class A stock. The sales occurred on March 2–3 under a Rule 10b5-1 plan, using shares created through exchanges and conversions of related Class D and Class B interests.

At what prices did Alclear Investments sell Clear Secure (YOU) Class A shares?

The reported Class A share sales occurred at weighted-average prices around $48–$50. Footnotes state multiple trades in ranges such as $48.00–$48.99, $49.00–$49.99, and $50.00–$50.31, with detailed breakdowns available upon request from the company or the SEC staff.

Was Alclear Investments’ selling in Clear Secure (YOU) pre-planned?

Yes. The sales were automatically executed under a Rule 10b5-1 trading plan. The plan had been previously adopted on November 20, 2025, meaning trades followed preset instructions rather than discretionary, day-by-day decisions by the reporting person.

How did Alclear convert its Clear Secure (YOU) holdings to Class A for sale?

Alclear exchanged Common Units and equal Class D shares for Class B stock, then converted Class B into Class A. Each step occurred on a one-for-one basis under an existing Exchange Agreement and the issuer’s charter, enabling settlement of the reported Class A sales.

What Clear Secure (YOU) shares does Alclear hold after these transactions?

After the reported trades, Alclear no longer holds Class A Common Stock. It reported ownership of 18,804,570 non-voting common units and corresponding Class D shares, plus 351,787 shares of Class B Common Stock, which carry both voting power and economic rights.

What are the voting and economic rights of Clear Secure (YOU) Class D and Class B shares?

Class D shares have 20 votes per share but no economic rights. Class B shares also carry 20 votes per share but include full economic rights such as dividends and liquidation distributions, distinguishing them from purely voting Class D stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 03/04/2026 - 09:23 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Alclear Investments, LLC

(Last) (First) (Middle)

85 10TH AVE., 9TH FLOOR

(Street)

NEW YORK NY 10011

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Clear Secure, Inc. [ YOU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)	X	Other (specify below)
			See Remarks

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	03/02/2026		S(1)		121,645	D	$48.36(2)	204,031(3)	D
Class A Common Stock	03/02/2026		S(1)		799	D	$49.02(4)	203,232(3)	D
Class A Common Stock	03/03/2026		S(1)		51,200	D	$48.68(5)	152,032(3)	D
Class A Common Stock	03/03/2026		S(1)		137,632	D	$49.48(6)	14,400(3)	D
Class A Common Stock	03/03/2026		S(1)		14,400	D	$50.14(7)	0(3)	D
Class D Common Stock(8)(9)	03/04/2026		D(9)		325,676	D	(9)	18,804,570	D
Class B Common Stock(9)(10)	03/04/2026		A(9)		325,676	A	(9)	677,463	D
Class B Common Stock(3)(10)	03/04/2026		D(10)		325,676	D	(10)	351,787	D
Class A Common Stock(3)	03/04/2026		A(3)		325,676	A	(3)	325,676	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-voting common units of Alclear Holdings, LLC(9)	(9)	03/04/2026		D			325,676	(9)	(9)	Class B Common Stock and Class A Common Stock	325,676	(9)	18,804,570	D

Explanation of Responses:

1. These transactions were automatically effected pursuant to a Rule 10b5-1 trading plan previously adopted by the reporting person on November 20, 2025.

2. These shares were sold in multiple transactions ranging from $48.00 to $48.92. 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 set forth in this footnote and in footnotes 4, 5, 6 and 7.

3. 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.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $49.00 to $49.03, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $48.06 to $48.99, inclusive.

6. The price report in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $49.00 to $49.99, inclusive.

7. The price report in Column 4 is a weighted average price. These shares were sold in multiple transactions ranging from $50.00 to $50.31, inclusive.

8. Shares of 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 Common Units held.

9. Pursuant to the terms of the Exchange Agreement, dated June 29, 2021, by and among the Issuer, Alclear and the equity holders 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.

10. Shares of Class B common stock of the Issuer ("Class B Common Stock") have 20 votes per share and economic rights (including rights to dividends and distributions upon liquidation).

Remarks:

By virtue of its relationship with Ms. Caryn Seidman-Becker, the sole manager of Alclear Investments, LLC, and equityholder of Alclear Investments, LLC, the reporting person may be deemed a director by deputization.

	s/ Lynn Haaland, Attorney-in-Fact	03/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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