TheRealReal CFO sells shares for tax withholding

TheRealReal, Inc. Chief Financial Officer Ajay Madan Gopal reported an automatic sale of 51,585 shares of common stock at $9.29 per share.

Rhea-AI Filing Summary

TheRealReal, Inc. Chief Financial Officer Ajay Madan Gopal reported an automatic sale of 51,585 shares of common stock at $9.29 per share. The shares were sold by The RealReal, Inc. to satisfy withholding taxes triggered by the vesting of 100,000 shares from a performance award granted on May 8, 2024. Following this tax-related sale, he holds 1,179,307 shares of common stock directly.

Insider Trade Summary

Net Seller: 51,585 shares

Net Sell 1 txn

Insider Madan Gopal Ajay

Role Chief Financial Officer

Sold 51,585 shs ($479K)

Type	Security	Shares	Price	Value
Sale	Common Stock	51,585	$9.29	$479K

Holdings After Transaction: Common Stock — 1,179,307 shares (Direct)

Footnotes (1)

1. F1. Represents shares of common stock automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of 100,000 shares of the performance award granted on May 8, 2024.

FAQ

What insider transaction did TheRealReal (REAL) report for its CFO?

TheRealReal CFO Ajay Madan Gopal reported an automatic share sale. The company sold 51,585 shares of his common stock position to cover withholding taxes due upon vesting of a 100,000-share performance award granted on May 8, 2024.

How many TheRealReal (REAL) shares were sold in the latest Form 4 filing?

A total of 51,585 common shares were sold. These shares were automatically sold by The RealReal, Inc. at $9.29 per share to satisfy tax withholding obligations tied to the vesting of a 100,000-share performance-based award.

At what price were TheRealReal (REAL) shares sold in the CFO’s transaction?

The shares were sold at an average price of $9.29 per share. This price applies to the 51,585 common shares automatically sold by the company to cover withholding taxes related to the vesting of a performance stock award.

Why did TheRealReal (REAL) CFO’s shares get sold in this Form 4 event?

The shares were sold to satisfy tax withholding obligations. The RealReal, Inc. automatically sold 51,585 common shares in connection with the vesting of 100,000 performance award shares granted to the CFO on May 8, 2024.

How many TheRealReal (REAL) shares does the CFO hold after this transaction?

After the transaction, the CFO holds 1,179,307 common shares directly. This balance reflects his remaining ownership following the automatic tax-withholding sale of 51,585 shares tied to the vesting of a 100,000-share performance award.

Was the TheRealReal (REAL) CFO’s share sale a discretionary open-market trade?

The sale was tax-related rather than a discretionary trade. According to the footnote, shares were automatically sold by The RealReal, Inc. solely to satisfy withholding taxes from the vesting of a 100,000-share performance stock award.

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Accepted by SEC EDGAR 03/20/2026 - 04:34 PM Learn about SEC filing dates

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^*

Madan Gopal Ajay

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

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	03/19/2026		S		51,585(1)	D	$9.29	1,179,307	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 common stock automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of 100,000 shares of the performance award granted on May 8, 2024.

Remarks:

	By: Todd Suko For: Ajay Madan Gopal	03/20/2026
	** 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)