The RealReal Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
The RealReal, Inc. granted equity awards to its Chief People Officer and Chief Marketing Officer as inducement for their employment. Each officer received 650,000 restricted stock units, vesting over time, approved by the Board of Directors on February 20, 2024.
03/04/2024 - 04:05 PM
SAN FRANCISCO, March 04, 2024 (GLOBE NEWSWIRE) -- The RealReal, Inc. (NASDAQ: REAL) – the world’s largest online marketplace for authenticated, resale luxury goods – today announced that it granted equity awards on March 4, 2024 as a material inducement to the employment of the company’s newly-hired Chief People Officer, Chatelle Lynch, and Chief Marketing Officer, Sri Batchu.
In connection with the appointment of Lynch as Chief People Officer on December 26, 2023 and Batchu as Chief Marketing Officer on February 26, 2024, The RealReal granted each of Lynch and Batchu an employment inducement award consisting of 650,000 restricted stock units (“RSUs”). The RSUs will vest 25% on the first anniversary of November 20, 2023, in the case of Lynch’s award, and of February 20, 2024, in the case of Batchu’s award, and in each case in 12 substantially equal quarterly installments thereafter, subject to the applicable executive’s continuous employment on each vesting date.
The inducement awards to Lynch and Batchu were granted as a material inducement to their employment and were approved by The RealReal’s Board of Directors on February 20, 2024, in accordance with Nasdaq Listing Rule 5635(c)(4). The awards were granted outside The RealReal’s equity incentive plans.
For more information, visit Investor.TheRealReal.com.
About The RealReal Inc. The RealReal is the world’s largest online marketplace for authenticated, resale luxury goods, with more than 35 million members. With a rigorous authentication process overseen by experts, The RealReal provides a safe and reliable platform for consumers to buy and sell their luxury items. We have hundreds of in-house gemologists, horologists and brand authenticators who inspect thousands of items each day. As a sustainable company, we give new life to pieces by thousands of brands across numerous categories—including women’s and men’s fashion, fine jewelry and watches, art and home—in support of the circular economy. We make selling effortless with free virtual appointments, in-home pickup, drop-off and direct shipping. We handle all of the work for consignors, including authenticating, using AI and machine learning to determine optimal pricing, photographing and listing their items, as well as shipping and customer service.
Investor Relations Contact: Caitlin Howecaitlin.howe@therealreal.com
Press Contact: Laura Hogyalaura.hogya@therealreal.com
What type of awards did The RealReal grant to its Chief People Officer and Chief Marketing Officer?
The RealReal granted 650,000 restricted stock units (RSUs) to each officer.
When will the RSUs granted to Chatelle Lynch vest?
The RSUs granted to Chatelle Lynch will vest 25% on the first anniversary of November 20, 2023.
How were the inducement awards to Lynch and Batchu approved?
The awards were approved by The RealReal's Board of Directors on February 20, 2024.
Where can more information about the equity awards be found?
For more information, visit Investor.TheRealReal.com.
REAL Rankings
#3459 Ranked by Stock Gains
REAL Stock Data
Industry
Electronic Shopping
Sector
Retail Trade
Tags
Retail Trade, Internet Retail
Country
United States
City
San Francisco
About REAL
the realreal is the world’s premier online luxury resale store. offering authenticated, pre-owned, designer fashion including chanel, hermès, manolo blahnik and cartier — all at up to 90 percent off retail prices —the realreal eliminates the uncertainty of purchasing luxury goods online. our team of luxury experts and skilled gemologists curates, evaluates and authenticates the best clothing, handbags, shoes and fine jewelry, creating the web’s best destination for women’s and men’s luxury resale. the realreal also offers fine art, including paintings, prints & editions, drawings, photographs, mixed media and tabletop sculpture from the modern, post-war and contemporary eras. our seasoned team of expert curators researches and authenticates every piece of fine art. a venture capital-funded company, the realreal was founded by e-commerce veteran julie wainwright. for further information, please email us at contact@therealreal.com. you can also download our app here: https://itunes