Real Brokerage (REAX) Form 144 Discloses 250K-Share Sale After Option Exercise

Rhea-AI Filing Summary

Form 144 filed for Real Brokerage Inc (REAX) reporting a proposed sale following an option exercise. The filer arranged to sell 250,000 common shares through Morgan Stanley Smith Barney with an aggregate market value of $1,345,000 and indicates the shares were acquired and paid for in cash on 09/02/2025 via exercise of stock options. The filing also discloses multiple prior sales by the same person in the past three months, including several 10b5-1 plan transactions and individual block sales with gross proceeds ranging from tens of thousands to over a million dollars.

Positive

• Transaction transparency: Filing provides explicit dates, amounts, and broker details for the proposed sale, supporting regulatory compliance.
• Use of 10b5-1 plans: Several previous sales are identified as 10b5-1, indicating pre-arranged trading plans to reduce insider trading risk.

Negative

• Substantial insider selling activity: Multiple recent sales by the same person generated significant gross proceeds (entries include proceeds over $1 million and many six-figure transactions).
• Increase in free float risk: The proposed sale of 250,000 shares could modestly increase shares available for trading, though it is small relative to 209,300,000 shares outstanding.

Insights

Financial Analyst

TL;DR: Insider exercised options and plans to sell 250,000 shares valued at $1.345M; multiple recent disposals indicate active liquidity events.

The filing documents a standard Rule 144 notice triggered by an option exercise and immediate sale arrangement. The 250,000-share sale at $1.345M is explicit and will increase freely tradable shares if executed. The schedule of recent sales shows repeated disposals including 10b5-1 plan sales and ad-hoc block trades, generating material gross proceeds in aggregate. From a financial perspective, these are execution/compliance disclosures rather than operational performance signals; impact on share supply is modest versus 209.3M shares outstanding.

Corporate Governance Expert

TL;DR: Disclosure is procedurally complete; recurring insider sales and use of 10b5-1 plans suggest planned liquidity, not necessarily undisclosed adverse information.

The filer certifies no undisclosed material adverse information and records the date of acquisition and cash payment. Multiple entries labeled as 10b5-1 sales indicate pre-arranged trading plans, which align with governance best practices for avoiding insider trading claims. Investors should note the frequency and scale of recent insider dispositions documented in the filing because they increase available float; however, the filing itself contains no allegations or governance breaches.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	250000	1345000.00	209300000	09/02/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/02/2025	Exercise of Stock Options	Issuer			250000	09/02/2025	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/29/2025	194098	1040986.39
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/27/2025	67160	359292.57
10b5-1 Sales for TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/25/2025	312500	1578218.75
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/22/2025	175105	813695.42
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/19/2025	36132	165871.17
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/18/2025	131172	595271.65
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/15/2025	7591	34159.50
10b5-1 Sales for TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/13/2025	96490	434795.12
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/13/2025	50000	223650.00
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/12/2025	212037	906118.92
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/11/2025	87963	363278.39
10b5-1 Sales for TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/07/2025	8310	37494.36
10b5-1 Sales for TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	07/01/2025	20200	91156.54
10b5-1 Sales for TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/27/2025	62500	283231.25
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/27/2025	62500	283231.25
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/18/2025	124377	499808.97
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/17/2025	6039	24121.58
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/12/2025	6626	27998.83
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/11/2025	50353	215838.13
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/09/2025	250000	1027500.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What did the REAX Form 144 disclose about the proposed sale?

The Form 144 reports a proposed sale of 250,000 common shares through Morgan Stanley Smith Barney with an aggregate market value of $1,345,000.

How were the 250,000 REAX shares acquired?

The shares were acquired on 09/02/2025 by exercise of stock options and paid for in cash on the same date.

Does the filing show other recent sales by the same person for REAX?

Yes. The filing lists multiple sales over the past three months including several 10b5-1 plan sales and block trades with gross proceeds ranging from tens of thousands to over a million dollars per entry.

Who is the broker named for the proposed REAX sale?

The broker listed is Morgan Stanley Smith Barney LLC, 1 New York Plaza, 8th Floor, New York, NY 10004.

How material is the proposed sale relative to REAX outstanding shares?

The proposed 250,000 shares compare to 209,300,000 shares outstanding as stated in the filing, representing a small percentage of total shares.