TheRealReal CEO Levesque Rati Sahi sells 133,492 shares

Available on EDGAR 11/12/2026 - 04:04 PM EST Accepted by SEC EDGAR 11/12/2026 - 04:04 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

TheRealReal, Inc. (REAL) Chief Executive Officer Levesque Rati Sahi exercised 35,799 incentive stock options on November 11, 2026, at an exercise price of $2.56 per share and acquired 35,799 common shares. The same day, Sahi sold 133,492 common shares at a weighted average price of $14.76, with transaction prices ranging from $14.53 to $15.00. The option position was reported at zero shares following the exercise. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 4 txns

Insider Sahi Levesque Rati

Role Chief Executive Officer

Sold 133,492 shs ($1.97M)

Approx. gross sale proceeds $1.97M

Approx. exercise cost $92K

Share of Position Sold 8.7%

Type	Security	Shares	Price	Value
Exercise	Incentive Stock Option (right to buy)	35,799	$2.56	$92K
Exercise	Common Stock	35,799	$2.56	$92K
Sale	Common Stock F1	35,799	$14.76	$528K
Sale	Common Stock F1	97,693	$14.76	$1.44M

Holdings After Transaction: Incentive Stock Option (right to buy) — 0 options (Direct); Common Stock — 1,399,151 shares (Direct)

Holdings Before and After: Incentive Stock Option (right to buy), 35,799 to 0 options (Direct); Common Stock, 1,496,844 to 1,399,151 shares (Direct)

Other Insiders: 2 other insiders reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (1)

1. F1. Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $14.53 to $15.00. Reporting Person undertakes to provide TheRealReal, Inc., any security holder of TheRealReal, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

Key Figures

Options exercised: 35,799 options Exercise price: $2.56 per share Common shares acquired: 35,799 shares +4 more

7 metrics

Options exercised 35,799 options November 11, 2026

Exercise price $2.56 per share Options exercised November 11, 2026

Common shares acquired 35,799 shares November 11, 2026

Common shares sold 133,492 shares November 11, 2026

Weighted average sale price $14.76 per share Sales on November 11, 2026

Sale price range $14.53 to $15.00 per share Multiple sales on November 11, 2026

Option position after exercise 0 shares Reported following the November 11, 2026 exercise

Key Terms

Incentive Stock Option, exercise price, weighted average sales price

3 terms

Incentive Stock Option technical

"exercise of 35,799 Incentive Stock Options"

An incentive stock option is a type of employee benefit that gives a worker the right to buy company shares at a fixed price, with special tax advantages if the employee holds the shares for a required period. Think of it as a coupon to buy future shares at today’s price that can result in lower tax on the gain. Investors care because ISOs can dilute share count, align staff incentives with the stock price, and affect company compensation costs and the timing of potential share sales.

exercise price financial

"at an exercise price of $2.56 per share"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

weighted average sales price financial

"Represents the weighted average sales price"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many REAL shares did CEO Levesque Rati Sahi sell, and at what price?

Levesque Rati Sahi, TheRealReal’s Chief Executive Officer, reported sales of 133,492 common shares on November 11, 2026, at a weighted average price of $14.76. The footnote says the shares were sold in multiple transactions at prices ranging from $14.53 to $15.00. No Rule 10b5-1 plan is reported.

How many REAL stock options did the CEO exercise, and at what price?

On November 11, 2026, Levesque Rati Sahi exercised 35,799 incentive stock options at an exercise price of $2.56 per share and acquired 35,799 common shares. The option position was reported at zero shares following exercise.

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

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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)

X	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)
11/11/2026

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	11/11/2026		M		35,799	A	$2.56	1,532,643	D
Common Stock	11/11/2026		S		35,799	D	$14.76(1)	1,496,844	D
Common Stock	11/11/2026		S		97,693	D	$14.76(1)	1,399,151	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
Incentive Stock Option (right to buy)	$2.56	11/11/2026		M			35,799	02/16/2021	02/16/2027	Common Stock	35,799	$2.56	0	D

Explanation of Responses:

1. Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $14.53 to $15.00. Reporting Person undertakes to provide TheRealReal, Inc., any security holder of TheRealReal, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this Form 4.

Remarks:

	by Todd Suko, Attorney in Fact for Rati Sahi Levesque	11/12/2026
	** 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)