Stock grant gives TheRealReal (REAL) director 4,247 RSUs

Rhea-AI Filing Summary

McKeehan Jennifer reported acquisition or exercise transactions in this Form 4 filing.

TheRealReal, Inc. director Jennifer McKeehan reported receiving a grant of 4,247 shares of common stock in the form of restricted stock units. The RSUs were awarded at no cash cost to her.

These RSUs vest on the earlier of the first anniversary of the grant date or the day before the company’s next annual stockholder meeting, as long as she continues serving as a non-employee director through that date. After this grant, she directly holds 4,247 shares reported in this filing.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider McKeehan Jennifer

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	4,247	$0.00	--

Holdings After Transaction: Common Stock — 4,247 shares (Direct)

Footnotes (1)

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Key Figures

RSU grant size: 4,247 shares Grant price per share: $0.00 per share Shares held after transaction: 4,247 shares

3 metrics

RSU grant size 4,247 shares Restricted stock units awarded to director on grant date

Grant price per share $0.00 per share Stated price for RSU award (compensation, not purchase)

Shares held after transaction 4,247 shares Total direct holdings reported following the grant

Key Terms

restricted stock units, RSUs, vesting, non-employee director

4 terms

restricted stock units financial

"These restricted stock units ("RSUs") vest on the earlier of (a) the first"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

RSUs financial

"These restricted stock units ("RSUs") vest on the earlier of (a) the first"

RSUs, or restricted stock units, are a form of company shares given to employees as part of their compensation. They are typically awarded with certain restrictions, such as a waiting period before they can be fully owned or sold, similar to earning a gift that becomes fully yours over time. For investors, RSUs can impact a company's stock offerings and reflect how much the company relies on stock-based incentives to attract and retain talent.

vesting financial

"RSUs vest on the earlier of (a) the first anniversary of the grant date"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

non-employee director financial

"subject to the non-employee director's continued service through the applicable"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

McKeehan Jennifer

(Last) (First) (Middle)

55 FRANCISCO STREET SUITE 400

(Street)

SAN FRANCISCO CALIFORNIA 94133

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TheRealReal, Inc. [ REAL ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/13/2026		A		4,247(1)	A	$0	4,247	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. These restricted stock units ("RSUs") vest on the earlier of (a) the first anniversary of the grant date of such award or (b) the date immediately preceding the next annual meeting of Company's stockholders, subject to the non-employee director's continued service through the applicable vesting date.

Remarks:

	By Todd Suko, Attorney in Fact for Jennifer McKeehan	04/14/2026
	** 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 4 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did TheRealReal (REAL) report for Jennifer McKeehan?

Jennifer McKeehan received a grant of 4,247 restricted stock units in TheRealReal common stock. The award is compensation for her role as a non-employee director rather than an open-market share purchase or sale.

How many TheRealReal (REAL) shares did Jennifer McKeehan acquire in this Form 4?

She acquired 4,247 shares in the form of restricted stock units. These units represent a right to receive common stock when they vest, rather than immediately tradable shares bought in the open market.

At what price were Jennifer McKeehan’s TheRealReal (REAL) RSUs granted?

The 4,247 restricted stock units were granted at a stated price of $0.00 per share. This reflects a compensation award, not a market transaction where the director paid cash to acquire the stock.

When do Jennifer McKeehan’s TheRealReal (REAL) RSUs vest?

The RSUs vest on the earlier of the first anniversary of the grant date or the day before the next annual stockholder meeting. Vesting is conditioned on her continued service as a non-employee director through the applicable date.

How many TheRealReal (REAL) shares does Jennifer McKeehan hold after this grant?

After this transaction, she directly holds 4,247 shares reported in the filing. This total reflects the newly granted restricted stock units, which will convert into common shares upon satisfying the vesting conditions described.

Are Jennifer McKeehan’s TheRealReal (REAL) RSUs an open-market purchase or sale?

They are not an open-market purchase or sale. The 4,247 units are a stock-based compensation grant, awarded for board service, with vesting tied to her continued role as a non-employee director at TheRealReal.