TheRealReal CFO Gopal Ajay Madan sells 71,027 shares

Available on EDGAR 11/12/2026 - 04:02 PM EST Accepted by SEC EDGAR 11/12/2026 - 04:01 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

TheRealReal, Inc. (REAL) Chief Financial Officer Gopal Ajay Madan sold 71,027 shares of common stock on November 11, 2026. The reported weighted average price was $14.6510 per share. His reported direct holdings after the sale were 1,037,833 shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Seller: 71,027 shares

Net Sell 1 txn

Insider Madan Gopal Ajay

Role Chief Financial Officer

Sold 71,027 shs ($1.04M)

Share of Position Sold 6.4%

Type	Security	Shares	Price	Value
Sale	Common Stock F1	71,027	$14.651	$1.04M

Holdings After Transaction: Common Stock — 1,037,833 shares (Direct)

Holdings Before and After: Common Stock, 1,108,860 to 1,037,833 shares (Direct)

Other Insiders: 1 other insider reported open-market sales of this stock in the 30 days up to this filing.

Footnotes (1)

1. F1. Represents the weighted average sales price. The shares were sold in multiple transactions at prices ranging from $14.65 to $14.701. 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.

Key Figures

Common shares sold: 71,027 shares Weighted average sale price: $14.6510 per share Reported transaction price range: $14.65–$14.701 per share +1 more

4 metrics

Common shares sold 71,027 shares Sale on November 11, 2026

Weighted average sale price $14.6510 per share Sale on November 11, 2026

Reported transaction price range $14.65–$14.701 per share Multiple transactions on November 11, 2026

Direct holdings after sale 1,037,833 shares Reported following the November 11, 2026 sale

Key Terms

weighted average sales price

1 terms

weighted average sales price financial

"Represents the weighted average sales price."

FAQ

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How many REAL shares did CFO Gopal Ajay Madan sell, and at what price?

Gopal Ajay Madan sold 71,027 shares on November 11, 2026, at a weighted average price of $14.6510 per share. The shares were sold in multiple transactions priced from $14.65 to $14.701. No Rule 10b5-1 plan is reported.

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

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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)
11/11/2026

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	11/11/2026		S		71,027	D	$14.651(1)	1,037,833	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 $14.65 to $14.701. 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: Ajay Madan Gopal	11/12/2026
	** 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)