REAL BROKERAGE (REAX) Form 144 Reveals Post-Exercise Sale; Prior Insider Sales Noted

Rhea-AI Filing Summary

Form 144 filed for REAL BROKERAGE INC (REAX) shows a proposed sale of 9,223 common shares through Morgan Stanley Smith Barney on NASDAQ, with an aggregate market value of $49,695 and an approximate sale date of 09/05/2025. The filer reports those shares were acquired the same day via a stock option exercise and paid in cash. The filing also lists extensive prior insider sales over the past three months by Tamir Poleg, including multiple transactions between 06/11/2025 and 09/02/2025 totaling large share blocks and aggregate gross proceeds in the seven-figure range on several dates. The signer certifies no undisclosed material adverse information.

Positive

• Transaction transparency: The filing discloses acquisition method (stock option exercise) and payment in cash for the 9,223 shares.
• Compliance: The filer provides the required Rule 144 representations and detailed prior-sales history, supporting regulatory transparency.

Negative

• Concentrated recent insider sales: Numerous sales by Tamir Poleg over the past three months, several with six-figure proceeds, which may increase sell-side supply.
• Potential for short-term pressure: Repeated dispositions by the same individual could be interpreted by some market participants as heightened insider liquidity, though no adverse information is claimed.

Insights

Securities Analyst

TL;DR: Insider exercised options and plans a small post-exercise sale; significant prior insider sales occurred recently.

The filing documents a routine post-exercise sale of 9,223 shares valued at $49,695, indicating immediate monetization after an option exercise. That is typically liquidity-driven rather than signal of company deterioration. However, the detailed list of prior dispositions by Tamir Poleg over the preceding three months shows repeated, sizable sales (multiple transactions with six-figure proceeds), which could be material for short-term supply pressure on the stock. Without additional context on ownership percentages, total insider holdings, or company events, the market impact is ambiguous. Impact rating: 0.

Corporate Governance Specialist

TL;DR: Filing is compliant and contains a standard Rule 144 representation; concentration of recent insider sales is notable.

The notice confirms the seller represents no undisclosed material adverse facts and that the shares were acquired by option exercise and paid in cash, which aligns with standard disclosure practice. The chronology and volume of sales by a single named person across many dates should prompt governance-focused investors to review insider holdings schedules and any trading plans (e.g., Rule 10b5-1), though the filing itself does not state such a plan. From a governance perspective this is informational rather than dispositive. Impact rating: 0.

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	9223	49695.37	209300000	09/05/2025	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	09/05/2025	Stock Option Exercise	Issuer			9223	09/05/2025	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	09/02/2025	125000	653300.00
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/29/2025	194098	1040989.20
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/27/2025	67160	359289.82
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	813702.43
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/19/2025	36132	165874.46
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/18/2025	131172	595277.62
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/15/2025	7591	34159.50
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	08/13/2025	96490	434793.59
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/12/2025	212037	906127.88
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/11/2025	87963	363285.38
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	08/07/2025	8310	37493.89
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	07/01/2025	20200	91156.54
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	06/23/2025	140000	561162.00
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/18/2025	124377	499810.80
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	27999.09
TAMIR POLEG 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/11/2025	50353	215838.40

144: Remarks and Signature

Remarks

Date of Notice

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 Form 144 for REAX disclose?

The form discloses a proposed sale of 9,223 common shares valued at $49,695 via Morgan Stanley on NASDAQ, acquired by stock option exercise and paid in cash.

Who sold shares in the past three months according to the filing?

Tamir Poleg is listed as having sold multiple blocks of common shares between 06/11/2025 and 09/02/2025, with several transactions producing six-figure gross proceeds.

How were the 9,223 shares acquired for the proposed sale?

The filing states they were acquired on 09/05/2025 via a stock option exercise and payment was made in cash.

Which broker is handling the proposed sale?

Morgan Stanley Smith Barney LLC Executive Financial Services is named as the broker for the proposed sale.

Does the filer claim any undisclosed material information?

No; the signer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.