Real Brokerage (REAX) Insider Exercise and Proposed Sale of 312,500 Shares

Rhea-AI Filing Summary

Real Brokerage Inc (REAX) filed a Form 144 reporting a proposed sale of 312,500 common shares through Morgan Stanley Smith Barney with an aggregate market value of $1,446,875, and lists 208,121,000 shares outstanding. The filing states the 312,500 shares were acquired on 08/25/2025 by exercise of stock options and paid in cash the same day. The notice also discloses multiple prior sales by the reporting person, Tamir Poleg, across June–August 2025, showing repeated dispositions of company common stock. The filer certifies no undisclosed material adverse information and, where applicable, references Rule 10b5-1 sales plans.

Positive

• Option exercise financed in cash, indicating the seller covered the acquisition cost at time of exercise
• Use of broker-dealer (Morgan Stanley Smith Barney) provides standard market execution and transparency
• Some sales identified as 10b5-1, suggesting pre-planned transactions that reduce appearance of opportunistic insider trading

Negative

• Frequent insider dispositions by Tamir Poleg across June–August 2025 indicate substantial ongoing sell activity
• Proposed sale equals $1.45M, representing insider monetization which investors may view negatively depending on context

Insights

Securities Analyst

TL;DR: Insider exercised options and intends to sell 312,500 shares; recent frequent dispositions by the same person are notable.

The filing documents an option exercise and proposed sale of 312,500 shares valued at $1,446,875, routed through Morgan Stanley Smith Barney. The issuer's outstanding share count is reported as 208,121,000, which places the proposed sale at roughly 0.15% of outstanding shares, a small fraction but meaningful for insider activity analysis. The detailed list of prior sales by Tamir Poleg during June–August 2025 indicates ongoing monetization of holdings, including several 10b5-1 plan transactions. For investors, repeated insider sales can be neutral to negative depending on context; this filing alone does not disclose the purpose of sales or any undisclosed material information.

Corporate Governance Expert

TL;DR: Compliance formalities appear met; representation of no undisclosed material information and 10b5-1 references are included.

The Form 144 includes the required broker identification and a signature representation about material information, and it documents both an option exercise and subsequent planned disposition. Multiple entries labeled as 10b5-1 sales suggest some transactions were executed under pre-established plans, which typically limit governance concerns about selective insider trading. The filing does not include any disclosures of material adverse information or departures from required Form 144 content. Absent additional context, governance procedures appear followed but ongoing insider sales warrant monitoring.

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	312500	1446875.00	208121000	08/25/2025	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	08/25/2025	Exercise of Stock Options	Issuer			312500	08/25/2025	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	08/22/2025	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 does Real Brokerage's Form 144 report for REAX on 08/25/2025?

The filing reports a proposed sale of 312,500 common shares valued at $1,446,875, acquired via option exercise on 08/25/2025 and to be sold through Morgan Stanley Smith Barney.

Who is the reporting person named in the Form 144 for REAX?

The filing shows multiple prior sales by Tamir Poleg of 701 Brickell Avenue, Miami, FL, who is the person for whose account various common shares were sold.

How many shares outstanding does the filing list for Real Brokerage (REAX)?

The Form 144 lists 208,121,000 shares outstanding.

Were any prior sales reported in the past three months?

Yes. The filing lists numerous sales by Tamir Poleg between 06/09/2025 and 08/22/2025, including both open-market and 10b5-1 plan transactions.

Does the filing state whether undisclosed material information exists?

By signing the notice, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.