CLEAR announces 4,000,000 block share repurchase agreement with Delta Airlines and $100 million increase to share repurchase authorization

Core Insights - CLEAR Secure, Inc. announced the repurchase of 4,000,000 shares of Class A Common Stock in Q3 2024 through a block share purchase agreement with Delta Air Lines [1] - Delta Air Lines retains ownership of 4,277,958 shares of CLEAR's Class C Common Stock [1] - CLEAR's Board of Directors has authorized a $100 million increase to its existing Class A Common Stock share repurchase program, with approximately $100 million remaining available post-repurchase [2] Company Overview - CLEAR's mission is to create frictionless experiences, boasting over 22 million members and a growing network of partners globally [3] - The company emphasizes privacy, ensuring members control their own information and that member data is not sold [3] Partnership Insights - Delta Air Lines views CLEAR as an important partner that enhances the travel experience for its customers [2] - CLEAR's CEO highlighted the partnership with Delta as a significant factor in the company's growth since Delta was an early investor in 2016 [2]