The RealReal (NASDAQ: REAL) CEO’s 84K-share tax sale explained

Rhea-AI Filing Summary

TheRealReal, Inc. (REAL) reported that Chief Executive Officer Rati Sahi Levesque had shares of common stock sold on August 21, 2026, totaling 84,432 shares at $10.98 per share. A footnote states these shares were automatically sold by TheRealReal to satisfy withholding taxes due on the vesting of an equity award, rather than as a discretionary open-market sale.

Insider Trade Summary

Net Seller: 84,432 shares

Net Sell 3 txns

Insider Sahi Levesque Rati

Role Chief Executive Officer

Sold 84,432 shs ($927K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1	8,071	$10.98	$89K
Sale	Common Stock F1	20,216	$10.98	$222K
Sale	Common Stock F1	56,145	$10.98	$616K

Holdings After Transaction: Common Stock — 1,496,844 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 an equity award.

Key Figures

Total shares sold: 84,432 shares of Common Stock First tranche: 8,071 shares at $10.98 per share Second tranche: 20,216 shares at $10.98 per share +2 more

5 metrics

Total shares sold 84,432 shares of Common Stock Reported for CEO Rati Sahi Levesque on August 21, 2026

First tranche 8,071 shares at $10.98 per share Automatic tax-withholding sale on August 21, 2026

Second tranche 20,216 shares at $10.98 per share Automatic tax-withholding sale on August 21, 2026

Third tranche 56,145 shares at $10.98 per share Automatic tax-withholding sale on August 21, 2026

Rule 10b5-1 affirmation aff_10b5_one = false Plan-status checkbox not marked as a Rule 10b5-1 plan

Key Terms

withholding taxes, vesting, equity award

3 terms

withholding taxes financial

"to satisfy withholding taxes payable in connection with the vesting"

Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.

vesting financial

"payable in connection with the vesting of an equity award"

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.

equity award financial

"in connection with the vesting of an equity award"

An equity award is a form of pay where a company gives employees, executives or other stakeholders the right to own or buy company shares—either immediately or after meeting certain conditions. Think of it like receiving slices of the company pie now or coupons to claim slices later; it matters to investors because it affects ownership dilution, executive incentives and reported compensation costs, and signals how management is being rewarded and retained.

FAQ

What insider transaction did REAL report for CEO Rati Sahi Levesque?

REAL reported that CEO Rati Sahi Levesque had 84,432 shares of common stock sold on August 21, 2026. A footnote explains the shares were automatically sold by The RealReal, Inc. to cover withholding taxes related to a vesting equity award.

At what price were the REAL shares associated with the CEO’s Form 4 transaction sold?

The reported sale price for the REAL common stock was $10.98 per share for each of the three sale tranches on August 21, 2026, all linked to tax withholding on the vesting of an equity award.

How many REAL shares were in each tranche of the CEO’s August 21, 2026 transaction?

The Form 4 lists three tranches: 8,071 shares, 20,216 shares, and 56,145 shares of REAL common stock, all at $10.98 per share, tied to tax withholding on a vesting equity award.

Was the REAL CEO’s August 21, 2026 Form 4 transaction under a Rule 10b5-1 plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirming a plan. Instead, a footnote states the shares were automatically sold by The RealReal, Inc. to satisfy withholding taxes upon vesting of an equity award.

Does the REAL Form 4 state the CEO’s share ownership after the August 21, 2026 transaction?

The reported transactions show no value for shares held following the transaction, so post-transaction common stock holdings are not specified in this Form 4 for CEO Rati Sahi Levesque.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 08/24/2026 - 04:26 PM Accepted by SEC EDGAR 08/24/2026 - 04:25 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^*

Sahi Levesque Rati

(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 Executive Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2026

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	08/21/2026		S(1)		8,071	D	$10.98	1,573,205	D
Common Stock	08/21/2026		S(1)		20,216	D	$10.98	1,552,989	D
Common Stock	08/21/2026		S(1)		56,145	D	$10.98	1,496,844	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 an equity award.

Remarks:

	by Todd Suko, Attorney in Fact for Rati Sahi Levesque	08/24/2026
	** 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)