NEW
YORK, March 21, 2024 /PRNewswire/ -- Clear
Secure, Inc. (NYSE: YOU) ("CLEAR" or the "Company") today announced
that its Board of Directors (the "Board") authorized a $100 million increase to its existing Class A
Common Stock share repurchase program. During the first quarter of
2024, the Company used $84.9 million
to repurchase and retire 4.4 million shares of Class A Common Stock
at an average price of $19.22.
Including the $100 million increase
announced today, approximately $141
million in aggregate remains available under the repurchase
authorization.
"Capital allocation remains a key priority. Year-to-date share
repurchases, our regular dividend and today's special dividend
announcement represent approximately $157
million already returned to shareholders in 2024," said
Kenneth Cornick, CLEAR's President
and Chief Financial Officer.
The timing and actual number of shares repurchased pursuant the
Company's repurchase program will be determined by management
depending on a variety of factors, including stock price, trading
volume, market conditions, and other general business
considerations.
About CLEAR
CLEAR's mission is to create frictionless
experiences. With more than 20 million members and a growing
network of partners across the world, CLEAR's identity platform is
transforming the way people live, work, and travel. Whether you are
traveling, at the stadium, or on your phone, CLEAR connects you to
the things that make you, you – making everyday experiences easier,
more secure, and friction-free. CLEAR is committed to privacy done
right. Members are always in control of their own information, and
we never sell member data. For more information,
visit clearme.com.
Forward-Looking Statements
This release may contain
statements that constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that any and such forward-looking
statements are not guarantees of future performance or results and
involve risks and uncertainties, and that actual results,
developments and events may differ materially from those in the
forward-looking statements as a result of various factors,
including those described in the Company's filings within the
Securities and Exchange Commission, including the sections titled
"Risk Factors" in our Annual Report on Form 10- K. The Company
disclaims any obligation to update any forward-looking statements
contained herein.
Contact:
Investor Relations
IR@clearme.com
Media
Media@clearme.com
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SOURCE CLEAR