Dennis W. Liu, Chief Accounting Officer of Clear Secure, Inc. (NYSE:YOU), disposed of 6,059 shares of Class A Common Stock between September 1, 2026, and September 3, 2026, as disclosed in a recent SEC Form 4 filing.
Transaction summary
Transaction value based on SEC Form 4 weighted average sale price ($43.49); post-transaction value based on September 3, 2026 market close ($44.59).
Key questions
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What portions of the disposal were non-discretionary?
A total of 3,955 shares were withheld by the company to satisfy tax obligations in connection with the vesting of restricted stock units. This transaction was non-discretionary and does not reflect the insider’s view on the stock’s future performance. -
How did the Rule 10b5-1 plan affect the remaining sale?
The sale of 2,104 shares was executed automatically under a Rule 10b5-1 trading plan adopted on May 14, 2026. This pre-scheduled activity suggests the trade was part of routine portfolio management and was not a discretionary reaction to current market conditions. -
What is the status of the insider’s remaining equity interest?
The insider’s direct holdings increased to 15,870 shares following the vesting event, representing a market value of ~$707,000 as of the September 3, 2026 market close. The executive also continues to hold 10,969 direct derivative securities. -
What was the stock performance context leading up to this filing?
Clear Secure shares recorded a 26% return over the 12-month period ending on the September 3, 2026 transaction date. The insider’s disposal occurred as the stock was priced at $44.03 as of the September 2, 2026 market close.
Company Overview
Company Snapshot
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Clear Secure operates a secure identity-verification platform with CLEAR Plus, a subscription service for air travelers that provides expedited airport security access and a network of complementary services.
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The company generates revenue through subscription-based membership fees from its CLEAR Plus service, which streamlines identity enrollment, verification, and linking processes for enhanced security and convenience.
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The primary customer base consists of frequent air travelers seeking faster airport security experiences, with expansion opportunities across additional identity-verification use cases and service verticals.
