TheRealReal (REAL) director Mark McCaffrey receives 963 deferred stock units

Rhea-AI Filing Summary

McCaffrey Mark reported acquisition or exercise transactions in this Form 4 filing.

TheRealReal, Inc. director Mark McCaffrey received an equity award of 963 shares of common stock in the form of deferred restricted stock units (DRSUs). The DRSUs were granted at no cash cost under TheRealReal Inc. 2019 Equity Incentive Plan and are fully vested.

Each DRSU is economically equivalent to one share of common stock and will be settled in shares, generally upon his separation from service as a non-employee director or on a date he elects. Following this grant, McCaffrey directly holds 12,863 shares of TheRealReal common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider McCaffrey Mark

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	963	$0.00	--

Holdings After Transaction: Common Stock — 12,863 shares (Direct)

Footnotes (1)

1. Represents shares of TheRealReal, Inc. common stock that will be issued to the Reporting Person upon settlement of deferred restricted stock units (DRSUs). Each DRSU is the economic equivalent of one share of TheRealReal, Inc. common stock. The DRSUs were granted to the Reporting Person on March 31, 2026 pursuant to TheRealReal Inc. 2019 Equity Incentive Plan and are fully vested. The DRSUs are deferred and generally will be settled upon the Reporting Persons separation from service as a Non-Employee Director of the TheRealReal Inc. or a date elected by the Reporting Person.

Key Figures

DRSUs granted: 963 shares Grant price: $0.0000 per share Shares owned after grant: 12,863 shares

3 metrics

DRSUs granted 963 shares Deferred restricted stock units granted on March 31, 2026

Grant price $0.0000 per share Reported transaction price per share for the DRSU award

Shares owned after grant 12,863 shares Total direct TheRealReal common stock holdings following the transaction

Key Terms

Deferred restricted stock units (DRSUs), economic equivalent, 2019 Equity Incentive Plan, separation from service

4 terms

Deferred restricted stock units (DRSUs) financial

"Represents shares of TheRealReal, Inc. common stock that will be issued to the Reporting Person upon settlement of deferred restricted stock units (DRSUs)."

economic equivalent financial

"Each DRSU is the economic equivalent of one share of TheRealReal, Inc. common stock."

2019 Equity Incentive Plan financial

"The DRSUs were granted to the Reporting Person on March 31, 2026 pursuant to TheRealReal Inc. 2019 Equity Incentive Plan and are fully vested."

separation from service financial

"The DRSUs are deferred and generally will be settled upon the Reporting Persons separation from service as a Non-Employee Director"

Form 4 Insider Transactions: What Each Field Means →

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^*

McCaffrey Mark

(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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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(1)	03/31/2026		A		963(2)	A	$0	12,863	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 TheRealReal, Inc. common stock that will be issued to the Reporting Person upon settlement of deferred restricted stock units (DRSUs). Each DRSU is the economic equivalent of one share of TheRealReal, Inc. common stock.

2. The DRSUs were granted to the Reporting Person on March 31, 2026 pursuant to TheRealReal Inc. 2019 Equity Incentive Plan and are fully vested. The DRSUs are deferred and generally will be settled upon the Reporting Persons separation from service as a Non-Employee Director of the TheRealReal Inc. or a date elected by the Reporting Person.

Remarks:

	Todd Suko, Attorney in fact for Mark McCaffrey	04/02/2026
	** 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)

FAQ

What did TheRealReal (REAL) director Mark McCaffrey report in this Form 4?

Mark McCaffrey reported an acquisition of 963 deferred restricted stock units (DRSUs), each equivalent to one share of TheRealReal common stock. These units were granted as equity compensation and increase his direct holdings to 12,863 shares of common stock after the transaction.

How many TheRealReal (REAL) shares did Mark McCaffrey receive and at what price?

He received 963 shares of TheRealReal common stock in the form of DRSUs at a reported price of $0.0000 per share. This reflects a compensation grant, not a cash purchase, and is issued under the company’s 2019 Equity Incentive Plan.

When will Mark McCaffrey’s TheRealReal (REAL) DRSUs be settled into shares?

The DRSUs are deferred and generally will be settled when McCaffrey separates from service as a non-employee director of TheRealReal, or on a date he elects. Until settlement, they represent a right to receive common stock in the future.

Are the TheRealReal (REAL) DRSUs granted to Mark McCaffrey already vested?

Yes. The filing states that the deferred restricted stock units granted to Mark McCaffrey on March 31, 2026 are fully vested. Although fully vested, they are deferred and will be settled in common stock at separation from service or on an elected future date.

What is Mark McCaffrey’s total TheRealReal (REAL) shareholding after this Form 4 transaction?

After the reported grant, Mark McCaffrey directly holds 12,863 shares of TheRealReal common stock. This total includes the impact of the 963-share DRSU award reported in the filing, as reflected in the post-transaction ownership figure.