The RealReal CFO sells 36K shares for taxes

TheRealReal, Inc. (REAL) reported that its Chief Financial Officer, Ajay Madan Gopal, had common stock transactions on August 21, 2026.

Rhea-AI Filing Summary

TheRealReal, Inc. (REAL) reported that its Chief Financial Officer, Ajay Madan Gopal, had common stock transactions on August 21, 2026. A total of 36,418 shares of common stock were sold at $10.98 per share, and a footnote states these shares were automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of an equity award.

Insider Trade Summary

Net Seller: 36,418 shares

Net Sell 3 txns

Insider Madan Gopal Ajay

Role Chief Financial Officer

Sold 36,418 shs ($400K)

Type	Security	Shares	Price	Value
Sale	Common Stock F1	8,067	$10.98	$89K
Sale	Common Stock F1	4,770	$10.98	$52K
Sale	Common Stock F1	23,581	$10.98	$259K

Holdings After Transaction: Common Stock — 1,108,860 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

Shares sold: 36,418 shares Sale price per share: $10.98 per share First transaction size: 8,067 shares +2 more

5 metrics

Shares sold 36,418 shares Total shares sold across three transactions on August 21, 2026

Sale price per share $10.98 per share Price for each of the three reported common stock sales

First transaction size 8,067 shares Common stock sale on August 21, 2026

Second transaction size 4,770 shares Common stock sale on August 21, 2026

Third transaction size 23,581 shares Common stock sale on August 21, 2026

Key Terms

withholding taxes, vesting, equity award

3 terms

withholding taxes financial

"automatically sold by The RealReal, Inc. to satisfy withholding taxes payable"

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

"withholding taxes 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

"withholding taxes payable 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

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

What insider transaction did REAL report for CFO Ajay Madan Gopal on August 21, 2026?

REAL reported that CFO Ajay Madan Gopal had a total of 36,418 shares of common stock sold on August 21, 2026, at a price of $10.98 per share, to satisfy tax withholding obligations related to an equity award vesting.

How many REAL shares were sold in each reported transaction?

Three transactions were reported: 8,067 shares, 4,770 shares, and 23,581 shares of REAL common stock, each at $10.98 per share. All are described as sales in the open market or private transactions, linked to a tax withholding requirement on vesting.

What was the sale price of the REAL shares in the CFO’s Form 4 filing?

Each transaction in the filing lists a sale price of $10.98 per share for REAL common stock. This price applies to all three reported sales on August 21, 2026.

Why were REAL shares sold in the CFO’s August 21, 2026 Form 4?

A footnote explains the sales represent shares of REAL common stock that were automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of an equity award held by the CFO.

Were the reported REAL insider transactions related to derivatives or options?

No. All reported transactions involve Common Stock as non-derivative securities, and the derivative position summary is empty, indicating no derivative transactions were reported in this Form 4.

Does the REAL Form 4 indicate use of a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not checked, and the footnote only states that the shares were sold automatically to cover withholding taxes on an equity award vesting.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 08/24/2026 - 04:30 PM Accepted by SEC EDGAR 08/24/2026 - 04:29 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)
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)		8,067	D	$10.98	1,137,211	D
Common Stock	08/21/2026		S(1)		4,770	D	$10.98	1,132,441	D
Common Stock	08/21/2026		S(1)		23,581	D	$10.98	1,108,860	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 For: Ajay Madan Gopal	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)