Real Brokerage (REAX) Rule 144 Notice — 43,048 RSUs Proposed Sale

Rhea-AI Filing Summary

Real Brokerage Inc. (REAX) notice reports a proposed sale under Rule 144 of 43,048 common shares held as Restricted Stock Units acquired on 03/13/2025. The filing lists an aggregate market value of $199,312.24 for the proposed sale and shows 208,121,000 shares outstanding, indicating the shares to be sold represent a very small fraction of total common stock. A prior sale by the same person on 06/02/2025 transferred 38,803 shares for gross proceeds of $165,029.16. The notice affirms the seller does not possess undisclosed material adverse information and references trading-plan disclosures where applicable.

Positive

• Regulatory compliance: The filer submitted a Rule 144 notice with acquisition, sale, and broker details as required
• Modest size: 43,048 shares represent a very small fraction of the 208,121,000 shares outstanding, suggesting limited market impact

Negative

• Insider selling: The person sold shares (prior sale of 38,803 on 06/02/2025) which some investors may interpret negatively despite small scale
• Limited disclosure on trading plan: The form does not show a stated date for any Rule 10b5-1 plan in the provided fields

Insights

Financial Analyst

TL;DR: Routine insider sale of RSUs; economic impact on equity is immaterial given companywide share count.

The filing details a proposed Rule 144 sale of 43,048 shares obtained as restricted stock units on 03/13/2025, valued at $199,312.24. Versus the stated 208,121,000 shares outstanding, this represents a de minimis portion of the float, so direct dilution or market-pressure effects are unlikely. The prior sale of 38,803 shares on 06/02/2025 for $165,029.16 suggests the holder is monetizing vested compensation rather than signaling a material change in company fundamentals. This disclosure is consistent with compliance and standard insider liquidity activity.

Corporate Governance Expert

TL;DR: Disclosure complies with Rule 144 norms; no governance red flags evident from the notice alone.

The notice includes requisite seller attestations about material nonpublic information and documents acquisition details (RSUs dated 03/13/2025). The filing records a broker and anticipated sale date (08/25/2025). Absent additional context—such as patterned large sales, changes in officer status, or related-party transfers—this appears to be standard exercise/monetization of equity compensation. The form lacks any indication of a 10b5-1 plan date in the provided fields.

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

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	43048	199312.24	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	03/13/2025	Restricted Stock Units	Issuer			43048	03/13/2025	N/A

* 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
JENNA MARIE ROZENBLAT 701 Brickell Avenue, 17th Floor Miami FL 33131	Common	06/02/2025	38803	165029.16

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 the Rule 144 filing for REAX report?

It reports a proposed sale of 43,048 common shares acquired as Restricted Stock Units on 03/13/2025, with an aggregate market value of $199,312.24.

Who is acting as broker for the proposed sale in the REAX filing?

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

How many REAX shares were outstanding according to the filing?

The filing states 208,121,000 shares outstanding.

Has the filer sold REAX shares recently?

Yes. The filing records a sale on 06/02/2025 of 38,803 shares for gross proceeds of $165,029.16.

Does the filing state whether the seller has undisclosed material information?

Yes. The filer represents by signature that they do not know any material adverse information about the issuer that has not been publicly disclosed.