Delta Air Lines (DAL) Form 3 Initial statement of insider ownership

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

DELTA AIR LINES, INC.

(Last) (First) (Middle)

1030 DELTA BLVD., DEPT. 981

(Street)

ATLANTA GA 30320-6001

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/30/2021

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

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class C common stock(1)(2)(3)	8,277,958	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-voting common units of Alclear Holdings, LLC	(1)(2)(3)	(1)(2)(3)	Class A common stock	8,277,958	(1)(2)(3)	D

Explanation of Responses:

1. Shares of Class C common stock of the Issuer have one vote per share but no economic rights and are issued in an equal amount to the number of non-voting common units of Alclear Holdings, LLC ("Common Units") held.

2. Pursuant to the terms of the Exchange Agreement, dated as of June 29, 2021 by and among the Issuer, Alclear Holdings, LLC, the reporting person and the other holders of Common Units and shares of Class C common stock or Class D common stock from time to time party thereto (the "Exchange Agreement") and that certain letter agreement, dated as of June 29, 2021 by and among the Issuer, Alclear Holdings, LLC and the reporting person, Common Units held by the reporting person, together with a corresponding number of shares of Class C common stock held by the reporting person, may be exchanged for, at the option of the Issuer's board of directors, (i) shares of Class A common stock of the Issuer on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications, or (ii) cash from a substantially concurrent public offering (based on the price of the Class A common stock in such public offering).

3. The exchange rights under the Exchange Agreement do not expire.

	/s/ William C. Carroll, Interim Co-CFO, SVP - Finance and Controller of Delta Air Lines, Inc.	06/30/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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