TheRealReal (REAL) CLO sells 45,947 shares, receives 63,708 RSUs

Rhea-AI Filing Summary

TheRealReal, Inc. Chief Legal Officer Todd A. Suko reported multiple open-market sales totaling 45,947 shares of common stock at $10.72 per share on February 23, 2026. Footnotes state these shares were automatically sold to cover withholding taxes tied to vesting equity awards.

On the same date, Suko was granted 63,708 restricted stock units under TheRealReal’s 2019 Equity Incentive Plan. These units vest in twelve equal quarterly installments, and following the reported transactions he directly holds 624,271 shares of common stock.

Insider Trade Summary

Net Seller: 45,947 shares ($492,552)

Net Sell 6 txns

Insider Suko Todd A

Role Chief Legal Officer and Secret

Sold 45,947 shs ($493K)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,787	$10.72	$41K
Sale	Common Stock	9,390	$10.72	$101K
Sale	Common Stock	15,777	$10.72	$169K
Sale	Common Stock	12,271	$10.72	$132K
Sale	Common Stock	4,722	$10.72	$51K
Grant/Award	Common Stock	63,708	$0.00	--

Holdings After Transaction: Common Stock — 602,723 shares (Direct)

Footnotes (1)

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. Represents shares of common stock automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of 30,000 shares of the performance award granted on March 3, 2023. Represents shares of TheRealReal, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units. Each restricted stock unit is the economic equivalent of one share of TheRealReal, Inc. common stock. The restricted stock units were granted to the Reporting Person on the Transaction Date pursuant to TheRealReal Inc. 2019 Equity Incentive Plan. The restricted stock units will vest in twelve (12) equal installments on a quarterly basis from the vesting commencement date.

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^*

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)
02/23/2026

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	02/23/2026		S(1)		3,787	D	$10.72	602,723	D
Common Stock	02/23/2026		S(1)		9,390	D	$10.72	593,333	D
Common Stock	02/23/2026		S(2)		15,777	D	$10.72	577,556	D
Common Stock	02/23/2026		S(1)		12,271	D	$10.72	565,285	D
Common Stock	02/23/2026		S(1)		4,722	D	$10.72	560,563	D
Common Stock(3)	02/23/2026		A		63,708(4)	A	$0	624,271	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.

2. Represents shares of common stock automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of 30,000 shares of the performance award granted on March 3, 2023.

3. Represents shares of TheRealReal, Inc. common stock that will be issued to the Reporting Person upon vesting of restricted stock units. Each restricted stock unit is the economic equivalent of one share of TheRealReal, Inc. common stock.

4. The restricted stock units were granted to the Reporting Person on the Transaction Date pursuant to TheRealReal Inc. 2019 Equity Incentive Plan. The restricted stock units will vest in twelve (12) equal installments on a quarterly basis from the vesting commencement date.

Remarks:

	Todd Suko	02/24/2026
	** 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.

FAQ

What insider transactions did TheRealReal (REAL) report for Todd A. Suko?

Todd A. Suko reported selling 45,947 shares of TheRealReal common stock at $10.72 per share on February 23, 2026. The filing also shows a grant of 63,708 restricted stock units on the same date under the company’s 2019 Equity Incentive Plan.

Why did TheRealReal (REAL) Chief Legal Officer’s shares get sold?

The shares were automatically sold by TheRealReal to satisfy withholding taxes due on vesting equity awards. Footnotes specify the sales related to tax obligations from equity vesting, including 30,000 shares from a performance award granted on March 3, 2023.

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

Todd A. Suko sold a total of 45,947 shares of TheRealReal common stock. The transactions occurred at a price of $10.72 per share on February 23, 2026, in multiple open-market sales reported as code “S” transactions.

What restricted stock units were granted to TheRealReal (REAL) insider Todd A. Suko?

Suko received a grant of 63,708 restricted stock units on February 23, 2026 under TheRealReal’s 2019 Equity Incentive Plan. The RSUs will vest in twelve equal quarterly installments, with each unit economically equivalent to one share of common stock.

How many TheRealReal (REAL) shares does Todd A. Suko own after these Form 4 transactions?

After the reported transactions, Todd A. Suko directly holds 624,271 shares of TheRealReal common stock. This figure reflects his ownership following the automatic tax-withholding sales and the reported equity award activity on February 23, 2026.

What performance award vesting is referenced in TheRealReal (REAL) Form 4 footnotes?

Footnotes explain that some shares sold for tax withholding relate to vesting of 30,000 shares from a performance award granted on March 3, 2023. The automatic sales were executed to cover withholding taxes triggered by that vesting event.