Real REMAX 10% owner sells 52,876 shares

A ten percent owner of Real REMAX Group Inc. reported an indirect open-market sale while retaining over 5.5 million shares held through a trust.

Rhea-AI Filing Summary

Real REMAX Group Inc. (REAX) reported that ten percent owner David L. Liniger, through indirect ownership by the Amended and Restated ADAOS Trust, sold 52,876 shares of common stock on September 17, 2026. The weighted average sale price was $19.1189 per share, with trades between $19.00 and $19.30. Following this sale, the trust continued to hold 5,539,905 shares of REAX common stock indirectly attributed to Liniger. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Seller: 52,876 shares

Net Sell 1 txn

Insider Liniger David L.

Role 10% Owner

Sold 52,876 shs ($1.01M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1	52,876	$19.1189	$1.01M

Holdings After Transaction: Common Stock — 5,539,905 shares (Indirect, By Amended and Restated ADAOS Trust)

Footnotes (1)

1. F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.00 to $19.30 per share. The Reporting Person undertakes to provide to Real REMAX Group Inc., any security holder of Real REMAX Group Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

Key Figures

Shares sold: 52,876 shares Weighted average sale price: $19.1189 per share Sale price range: $19.00–$19.30 per share +2 more

5 metrics

Shares sold 52,876 shares Common stock sold on September 17, 2026 by trust associated with David L. Liniger

Weighted average sale price $19.1189 per share Average price for the 52,876 REAX shares sold on September 17, 2026

Sale price range $19.00–$19.30 per share Range of prices for multiple transactions included in the reported sale

Shares held after transaction 5,539,905 shares Indirectly owned through the Amended and Restated ADAOS Trust after the sale

Net buy/sell shares -52,876 shares Net effect of reported non-derivative transactions in this Form 4

Key Terms

weighted average price, indirect, ten percent owner

3 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

indirect financial

"ownership type is reported as indirect via the Amended and Restated ADAOS Trust"

ten percent owner regulatory

"David L. Liniger is reported as a ten percent owner of the issuer"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did REAX report for David L. Liniger?

REAX reported that ten percent owner David L. Liniger, through the Amended and Restated ADAOS Trust, sold 52,876 shares of common stock on September 17, 2026 in an open market or private transaction.

At what price were the REAX shares sold in this Form 4 filing?

The filing reports a weighted average price of $19.1189 per share for the 52,876 REAX shares sold, with individual trades executed in a price range of $19.00 to $19.30 per share.

How many REAX shares does David L. Liniger still hold after the sale?

After the reported sale, the Amended and Restated ADAOS Trust continued to hold 5,539,905 shares of REAX common stock, which are reported as indirectly owned by ten percent owner David L. Liniger.

Is the REAX insider sale attributed directly to David L. Liniger or to an entity?

The sale is attributed to shares held indirectly by the Amended and Restated ADAOS Trust. The Form 4 reports ownership type as indirect, with the nature of ownership specified as “By Amended and Restated ADAOS Trust.”

Was the REAX insider sale under a Rule 10b5-1 trading plan?

No. The filing indicates that the Rule 10b5-1 checkbox is not marked and the footnotes do not describe any trading plan, so no Rule 10b5-1 plan is reported for this transaction.

What does the weighted average price disclosure mean in the REAX Form 4?

The Form 4 states that the $19.1189 price is a weighted average. The 52,876 shares were sold in multiple trades between $19.00 and $19.30, and the reporting person undertakes to provide the exact breakdown of shares at each price upon request.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/21/2026 - 04:07 PM Accepted by SEC EDGAR 09/21/2026 - 04:07 PM Learn about SEC filing dates

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^*

Liniger David L.

(Last) (First) (Middle)

5075 S. SYRACUSE STREET

(Street)

DENVER COLORADO 80237

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Real REMAX Group Inc. [ REAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	09/17/2026		S		52,876	D	$19.1189(1)	5,539,905	I	By Amended and Restated ADAOS Trust

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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.00 to $19.30 per share. The Reporting Person undertakes to provide to Real REMAX Group Inc., any security holder of Real REMAX Group Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

	/s/ Todd M. Kaye, as attorney-in-fact	09/21/2026
	** 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.
* Form 4: SEC 1474 (03-26)