Equity grant gives TheRealReal (REAL) director 14,150 deferred units

Rhea-AI Filing Summary

KATZ KAREN reported acquisition or exercise transactions in this Form 4 filing.

TheRealReal, Inc. director Karen Katz received a grant of 14,150 deferred restricted stock units (DRSUs) on July 27, 2026. Each DRSU is the economic equivalent of one share of common stock and was awarded at $0.00, bringing her reported direct common stock-equivalent holdings to 253,883 shares.

Insider Trade Summary

Net Buyer: 14,150 shares

Net Buy 1 txn

Insider KATZ KAREN

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	14,150	$0.00	$0.00

Holdings After Transaction: Common Stock — 253,883 shares (Direct)

Footnotes (1)

1. F1. Represents shares of TheRealReal, Inc. common stock that will be issued to the Reporting Person upon settlement of deferred restricted stock units (DRSUs). Each DRSU is the economic equivalent of one share of TheRealReal, Inc. common stock.

Key Figures

Deferred restricted stock units granted: 14,150 units Award price per unit: $0.0000 per share Common stock equivalents after grant: 253,883 shares +1 more

4 metrics

Deferred restricted stock units granted 14,150 units Equity grant to director Karen Katz on July 27, 2026

Award price per unit $0.0000 per share Compensation grant, not an open-market purchase

Common stock equivalents after grant 253,883 shares Total direct common stock-equivalent holdings reported after this transaction

Transaction date July 27, 2026 Date the deferred restricted stock units were granted

Key Terms

Deferred restricted stock units (DRSUs), economic equivalent, Grant, award, or other acquisition

3 terms

Deferred restricted stock units (DRSUs) financial

"upon settlement of deferred restricted stock units (DRSUs). Each DRSU is the economic"

economic equivalent financial

"Each DRSU is the economic equivalent of one share of TheRealReal, Inc."

Grant, award, or other acquisition financial

"transaction code description "Grant, award, or other acquisition""

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Available on EDGAR 07/29/2026 - 04:33 PM Accepted by SEC EDGAR 07/29/2026 - 04:33 PM Learn about SEC filing dates

FAQ

What insider transaction did TheRealReal (REAL) report for director Karen Katz?

Karen Katz received an equity grant of 14,150 deferred restricted stock units (DRSUs) tied to TheRealReal common stock. These units are compensation awards, not open-market purchases, and each is economically equivalent to one share of common stock.

How many stock units did Karen Katz receive in the latest REAL Form 4?

Karen Katz was granted 14,150 deferred restricted stock units. According to the disclosure, each DRSU is the economic equivalent of one share of TheRealReal, Inc. common stock and will result in shares being issued upon settlement in the future.

At what price were the TheRealReal (REAL) DRSUs granted to Karen Katz?

The 14,150 deferred restricted stock units were granted at $0.0000 per share. This indicates a compensation award rather than a purchase in the market, so no cash consideration was paid by Karen Katz for these units.

What is Karen Katz’s total reported TheRealReal (REAL) ownership after this grant?

After the grant, Karen Katz is reported to directly hold 253,883 common stock-equivalent shares. This figure includes the impact of the newly awarded deferred restricted stock units tied to TheRealReal, Inc. common stock.

What are deferred restricted stock units (DRSUs) in REAL’s disclosure?

Deferred restricted stock units (DRSUs) are rights to receive shares in the future. For this award, each DRSU is the economic equivalent of one TheRealReal, Inc. common share and will be settled in stock at a later date, subject to applicable terms.

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^*

KATZ KAREN

(Last) (First) (Middle)

C/O THEREALREAL, INC.

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)
07/27/2026

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(1)	07/27/2026		A		14,150(1)	A	$0	253,883	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. Represents shares of TheRealReal, Inc. common stock that will be issued to the Reporting Person upon settlement of deferred restricted stock units (DRSUs). Each DRSU is the economic equivalent of one share of TheRealReal, Inc. common stock.

Remarks:

	By: Todd Suko For: Karen Katz	07/29/2026
	** 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)