[144] The RealReal, Inc. SEC Filing

Rhea-AI Filing Summary

The RealReal, Inc. (REAL) notice reports a proposed sale under Rule 144 of 51,455 common shares through Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $383,694.79. The form states the company has 115,237,276 shares outstanding, and lists an approximate sale date of 08/12/2025. The shares were acquired as restricted stock in two grants: 22,169 shares on 02/20/2025 and 29,286 shares on 05/20/2025. The filing also discloses a sale of 20,318 shares on 05/21/2025 generating $103,660.74.

The filer signs a representation that they are not aware of any undisclosed material adverse information about the issuer. Several typical issuer contact fields in the form are not populated in the provided content.

Insights

Securities Analyst

TL;DR Small Rule 144 sale disclosed; position size is immaterial relative to total shares outstanding.

The filing shows a proposed disposal of 51,455 restricted shares with an aggregate market value of $383,694.79 against 115,237,276 shares outstanding (approximately 0.045% of outstanding shares). Recent sales of 20,318 shares for $103,660.74 are also reported. Given the small percentage of float represented, this notice is unlikely to have a material impact on share supply or pricing. The transactions are routine filings for insider-restricted stock monetization and include the standard insider certification about nondisclosure of material nonpublic information.

Corporate Governance Expert

TL;DR Disclosure is procedural and compliant; no governance red flags apparent from this notice alone.

The form documents restricted stock grants (02/20/2025 and 05/20/2025) and a planned sale under Rule 144 via a broker, consistent with usual insider liquidity actions. The filer’s attestation regarding knowledge of material information is present. The notice does not disclose any departures, related-party transactions, or compliance exceptions. Because key issuer contact fields in the form are blank in the provided content, stakeholders cannot verify administrative details here, but nothing in the notice indicates governance concerns.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	51455	383694.79	115237276	08/12/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/20/2025	Restricted Stock	Issuer			29286	05/20/2025	Not Applicable
Common	02/20/2025	Restricted Stock	Issuer			22169	02/20/2025	Not Applicable

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
CHATELLE Aileen LYNCH 55 Francisco Street Suite 400 San Francisco CA 94133	Common	05/21/2025	20318	103660.74

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the REAL Form 144 disclose about the proposed sale?

The notice reports a proposed sale of 51,455 common shares via Morgan Stanley with an aggregate market value of $383,694.79, and an approximate sale date of 08/12/2025.

How many shares of REAL were acquired as restricted stock and when?

The filing shows restricted stock acquisitions of 22,169 shares on 02/20/2025 and 29,286 shares on 05/20/2025.

Did the filer report any recent sales of REAL shares?

Yes. The filer sold 20,318 shares on 05/21/2025 for total gross proceeds of $103,660.74.

What percentage of REAL outstanding shares does the proposed sale represent?

The form lists 115,237,276 shares outstanding; the proposed 51,455 shares represent about 0.045% of those outstanding shares.

Does the filer claim to possess undisclosed material information about REAL?

No. By signing the notice the filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.