Clear Secure Inc SEC Filings

Adam J. Wiener reported proposed sales of Class A shares under Form 144, indicating multiple recent dispositions. The filing lists three transactions in the prior three months: 8,000 shares on 12/12/2025 for $320,000.00, 14,000 shares on 01/02/2026 for $490,000.00, and 18,000 shares on 02/25/2026 for $775,296.42.

The notice also shows 15,000 Class A shares tied to a restricted stock vesting event dated 06/30/2021 listed as compensation. The filing names Fidelity Brokerage Services LLC as the broker and indicates trading on NYSE.

YOU: Adam J. Wiener filed a Form 144 reporting intent to sell 10,000 Class A shares that vested on 06/30/2021 as restricted stock for compensation. The filing also lists prior sales by Mr. Wiener of 8,000 Class A shares on 12/12/2025 for $320,000 and 14,000 Class A shares on 01/02/2026 for $490,000.

YOU disclosed a proposed sale of Class A shares under Rule 144 tied to a restricted stock vesting event. The filing lists 7,767 shares associated with a vesting date of 03/01/2025. It also records a prior sale of 15,532 shares on 12/12/2025.

YOU submitted a Form 144 notice concerning the proposed resale of Class A shares through Fidelity Brokerage Services LLC. The filing lists restricted stock vesting events of 3,541 shares on 03/01/2025 and 4,225 shares on 08/01/2025.

The filing also records a sale by Lynn Haaland of 15,532 Class A shares on 12/12/2025 for $636,812. Broker details include Fidelity Brokerage Services LLC, 900 Salem Street, Smithfield, RI.

YOU insider transactions reported: sales of Class A common stock by Adam J. Wiener. The filing lists a sale of 8,000 Class A shares on 12/12/2025 for $320,000 and a sale of 14,000 Class A shares on 01/02/2026 for $490,000. The shares sold were described as vested restricted stock from 06/30/2021 and attributed to compensation.

Clear Secure, Inc. provides a secure identity platform used in airports and digital settings through its consumer subscription CLEAR+ and B2B offering CLEAR1. CLEAR+ gives members faster airport security via biometric lanes, now retailing at $209 per year with family and partner discounts.

As of December 31, 2025, Clear served 38 million Total CLEAR Members with 166 CLEAR+ lanes across 60 airports, TSA PreCheck® enrollment in 61 airports and 340 retail locations, and a growing roster of enterprise partners. Total CLEAR Members grew 31% year over year, reinforcing network effects between members, partners and use cases.

The company highlights its multi-layered identity stack, strong regulatory certifications, over 100 issued U.S. patents, and a 3,300+ employee workforce. Key growth priorities include expanding CLEAR+, scaling TSA PreCheck® Enrollment Provided by CLEAR, adding new partners and verticals via CLEAR1, and selective acquisitions, while managing significant competitive, regulatory, technology, and travel-industry risks.

Clear Secure, Inc. reported strong fourth quarter and full-year 2025 results, highlighted by continued growth and robust cash generation. Q4 revenue was $240.8 million, up 16.7% year-over-year, with operating income of $53.9 million and net income of $46.5 million, yielding net margin of 19.3%. Adjusted EBITDA reached $79.9 million with a 33.2% margin and significant margin expansion.

For 2025, revenue rose to $900.8 million, up 16.9%, while total bookings were $977.2 million, up 17.2%. Full-year net income was $168.1 million and Adjusted EBITDA increased to $262.2 million, a 29.1% margin. Free cash flow was $343.1 million, supported by net cash from operating activities of $372.5 million.

Operationally, total CLEAR Members grew to 38.0 million, up 31.5% year-over-year, and Active CLEAR+ Members reached 7.6 million. The company expanded to 60 CLEAR+ airports, 340 TSA PreCheck enrollment locations and 37 airports with eGates. The board declared a higher quarterly dividend of $0.15 per share plus a $0.20 special dividend and increased the share repurchase authorization, leaving $250.3 million available. Guidance for 2026 includes first quarter revenue of $242–245 million, first quarter bookings of $248–253 million and full-year free cash flow of at least $440 million.

Durable Capital Partners, an investment adviser based in Delaware, filed an amended Schedule 13G reporting its beneficial ownership in Clear Secure, Inc. Class A common stock. Durable Capital reports beneficially owning 3,461,549 shares, representing 3.6% of the Class A shares outstanding.

The ownership percentage is based on 97,432,378 Class A shares outstanding as of November 3, 2025, as disclosed in Clear Secure’s Form 10-Q. Durable Capital has sole voting and dispositive power over these shares through Durable Capital Master Fund LP and certifies the position is held in the ordinary course of business, not to influence control.

The Vanguard Group filed an amended Schedule 13G reporting passive ownership in Clear Secure Inc. common stock. As of 12/31/2025, Vanguard beneficially owned 11,507,931 shares, representing 11.81% of the class. Vanguard reported shared voting power over 737,258 shares and shared dispositive power over 11,507,931 shares, with no sole voting or dispositive power.

The filing states the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Clear Secure. Vanguard also notes an internal realignment effective 01/12/2026, after which certain subsidiaries are expected to report beneficial ownership separately.