[Form 4] TheRealReal, Inc. Insider Trading Activity

Rhea-AI Filing Summary

TheRealReal, Inc. (REAL) reported an insider transaction by its Chief Legal Officer and Secretary, Todd Suko. On 11/21/2025, multiple sales of common stock were recorded at a price of $13.06 per share, including transactions of 2,638 shares, 3,354 shares, 9,000 shares, 12,000 shares, and 4,619 shares. After these sales, Suko beneficially owned 679,443 shares of TheRealReal common stock in direct form.

The company explains that these shares were automatically sold by TheRealReal, Inc. to satisfy withholding taxes due in connection with the vesting of an equity award. This means the transactions were related to tax obligations on compensation rather than discretionary open-market sales.

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^*

Suko Todd A

(Last) (First) (Middle)

C/O THEREALREAL

55 FRANCISCO STREET SUITE 400

(Street)

SAN FRANCISCO CA 94133

(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 Legal Officer and Secret

3. Date of Earliest Transaction (Month/Day/Year)
11/21/2025

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	11/21/2025		S(1)		2,638	D	$13.06	708,416	D
Common Stock	11/21/2025		S(1)		3,354	D	$13.06	705,062	D
Common Stock	11/21/2025		S(1)		9,000	D	$13.06	696,062	D
Common Stock	11/21/2025		S(1)		12,000	D	$13.06	684,062	D
Common Stock	11/21/2025		S(1)		4,619	D	$13.06	679,443	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:

	Todd Suko	11/21/2025
	** 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 TheRealReal (REAL) report for Todd Suko?

TheRealReal reported that Chief Legal Officer and Secretary Todd Suko had multiple automatic sales of common stock on 11/21/2025 to cover tax withholding on a vesting equity award.

How many TheRealReal (REAL) shares did Todd Suko sell and at what price?

Todd Suko had sales of 2,638, 3,354, 9,000, 12,000, and 4,619 TheRealReal common shares, each at a price of $13.06 per share.

How many TheRealReal (REAL) shares does Todd Suko own after the reported transactions?

Following the reported transactions, Todd Suko beneficially owned 679,443 shares of TheRealReal common stock in direct ownership.

Why were TheRealReal (REAL) shares sold in Todd Sukos Form 4 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.

What is Todd Suko19s role at TheRealReal (REAL)?

Todd Suko is listed as an Officer of TheRealReal, serving as Chief Legal Officer and Secretary.

Was the TheRealReal (REAL) Form 4 filed for one or multiple reporting persons?

The Form 4 was indicated as filed by one reporting person, specifically Todd Suko.