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  4. [Form 4] TheRealReal, Inc. Insider Trading Activity

The RealReal (NASDAQ: REAL) CAO stock sale covers tax bill

Filing Impact
(Moderate)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

TheRealReal, Inc. (REAL) reported that Chief Accounting Officer Steve Ming Lo had shares of common stock sold on August 21, 2026, totaling 12,559 shares at prices around $10.97–$10.98 per share. According to the company’s disclosure, these shares were automatically sold to cover withholding taxes due on a vesting equity award.

Positive

  • None.

Negative

  • None.
Insider Lo Steve Ming
Role Chief Accounting Officer
Sold 12,559 shs ($138K)
Type Security Shares Price Value
Sale Common Stock F1 2,167 $10.97 $24K
Sale Common Stock F1 8,985 $10.97 $99K
Sale Common Stock F1 1,407 $10.98 $15K
Holdings After Transaction: Common Stock — 176,910 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.
Shares sold 12,559 shares Total common stock sold on August 21, 2026 to satisfy withholding taxes
Sale price per share $10.97 Prices for 2,167-share and 8,985-share trades on August 21, 2026
Sale price per share $10.98 Price for 1,407-share trade on August 21, 2026
First trade size 2,167 shares Common stock sold at $10.97 per share on August 21, 2026
Second trade size 8,985 shares Common stock sold at $10.97 per share on August 21, 2026
Third trade size 1,407 shares Common stock sold at $10.98 per share on August 21, 2026
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.
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.
Common Stock financial
"Represents shares of common stock automatically sold by The RealReal, Inc."
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

FAQ

What insider transaction did REAL report for Steve Ming Lo?
REAL reported that Chief Accounting Officer Steve Ming Lo had 12,559 shares of common stock sold on August 21, 2026. The company states the shares were automatically sold to satisfy withholding taxes tied to a vesting equity award.

At what prices were Steve Ming Lo’s REAL shares sold?
The reported sales of REAL common stock occurred at per-share prices of $10.97 and $10.98. These prices applied to separate trade lots executed on August 21, 2026, as part of an automatic sale to cover tax withholding.

How many REAL shares were sold in each trade for Steve Ming Lo?
Three trades were reported: 2,167 shares at $10.97, 8,985 shares at $10.97, and 1,407 shares at $10.98. In total, 12,559 shares of REAL common stock were sold on August 21, 2026.

Why were Steve Ming Lo’s REAL shares sold according to the filing?
The filing states the shares were automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of an equity award, rather than as discretionary open-market sales by the officer.

Does the Form 4 say how many REAL shares Steve Ming Lo holds after these sales?
The reported transactions do not state a specific post-transaction share balance for Steve Ming Lo. The rows for these sales list the total shares following the transactions as not provided.

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

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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Lo Steve Ming
(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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Accounting 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)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock08/21/2026S(1)2,167D$10.97187,302D
Common Stock08/21/2026S(1)8,985D$10.97178,317D
Common Stock08/21/2026S(1)1,407D$10.98176,910D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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:
Todd Suko, Attorney in Fact for Steve Lo08/24/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR