[Form 4] The RealReal, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Chatelle Aileen Lynch, Chief People Officer of TheRealReal, Inc. (REAL), reported the sale of 51,455 shares of the company's common stock on 08/12/2025. The filing shows a weighted average sales price of $7.4569, with individual sale prices ranging from $7.44 to $7.4801. After the reported disposition, the reporting person beneficially owned 613,577 shares, held directly. The Form 4 was filed by one reporting person and signed on behalf of Ms. Lynch on 08/14/2025.

Positive

• None.

Negative

• Officer sold 51,455 shares on 08/12/2025, which reduces the reporting person's direct stake and may be viewed negatively by some investors
• Sale occurred at a low single-day average price ($7.4569 weighted average; range $7.44 to $7.4801), which could reflect market pricing at that time

Insights

Securities Analyst

TL;DR: Officer sale of 51,455 shares at ~$7.46 reduces direct holding to 613,577 shares; disclosure is routine and non-quantitative on motivation.

The reported transaction is a straightforward Section 16 disclosure showing an officer-initiated sale. The sale size (51,455 shares) and remaining direct ownership (613,577 shares) are material for ownership tracking but do not, by themselves, indicate company-level operational impact. The filing includes a weighted average price and a range of executed prices, and the reporting person offers to provide further breakdowns on request. No derivative transactions or other compensatory exercises are reported.

Corporate Governance Expert

TL;DR: Routine insider disposition disclosed properly; no additional governance or control changes disclosed.

The Form 4 meets disclosure requirements for insider transactions: it identifies the reporting person, role (Chief People Officer), transaction date, number of shares sold, pricing range, and resulting beneficial ownership. There is no indication of amendments, hedging, or plan-based trades in the form. Because the filing reports a sale rather than a change in board or control, the governance implications are limited to ownership dilution tracking.

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^*

Lynch Chatelle Aileen

(Last) (First) (Middle)

C/O THEREALREAL, INC.

55 FRANCISCO STREET 4TH FLOOR

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

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 People Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/12/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	08/12/2025		S		51,455	D	$7.4569(1)	613,577	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 the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $7.44 to $7.4801. 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 For: Chatelle Lynch	08/14/2025
	** 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.

FAQ

What insider transaction did Chatelle Lynch report for REAL?

The Form 4 reports a sale of 51,455 shares of TheRealReal, Inc. (REAL) common stock on 08/12/2025.

At what price were the REAL shares sold by the officer?

The filing shows a weighted average sales price of $7.4569, with individual sale prices ranging from $7.44 to $7.4801.

How many REAL shares does the reporting person own after the sale?

After the reported disposition the reporting person beneficially owned 613,577 shares (direct ownership).

What is Chatelle Lynch's role at REAL as stated in the filing?

The Form 4 identifies Chatelle Aileen Lynch as an Officer with the title Chief People Officer.

Was the Form 4 filed jointly or by one reporting person?

The Form 4 indicates it was filed by one reporting person (individual filing).