v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Quarterly Dividend

On August 5, 2026, the Company announced that its Board declared a quarterly dividend of $0.15 per share, payable on September 24, 2026 to holders of record of Class A Common Stock as of the close of business on September 10, 2026 (the
“Record Date”). The Company will fund the dividend from proportionate cash distributions by Alclear to all of its members as of the Record Date, including holders of non-controlling interests in Alclear and the Company.

To the extent the quarterly dividend exceeds the Company's current and accumulated earnings and profits, a portion of such dividend may be deemed a return of capital to the holders of our Class A Common Stock, as applicable.

Share Repurchases
During the third quarter of 2026, the Company used $22,431 to repurchase and retire 425,417 shares of Class A Common Stock at an average price of $52.73.
Conversion of Class B Common Stock and Class D Common Stock

On July 2, 2026, pursuant to the sunset provisions described in the Company’s prospectus and set forth in the Company’s Fourth Amended and Restated Certificate of Incorporation, 151,787 shares of Class B Common Stock and 18,380,246 shares of Class D Common Stock automatically converted on a one-for-one basis into Class A Common Stock and Class C Common Stock, respectively. Following the automatic conversion, there were no outstanding shares of Class B Common Stock and Class D Common Stock.

Founder PSU Vesting

On July 2, 2026, an additional 133,286 Founder PSUs vested on a pro-rated basis pursuant to the straight-line interpolation provisions of the awards, as the Company’s stock price exceeded the first price hurdle but did not fully achieve the second price hurdle. The vested Founder PSUs were settled through the issuance of 91,151 shares of Class A Common Stock, net of 42,135 shares withheld to satisfy applicable tax withholding obligations. By their terms, all unvested Founder PSUs remaining after the final vesting on July 2, 2026 were forfeited on the same date.