[Form 4] Revolve Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Revolve Group, Inc. (RVLV) co-CEO insider trading disclosure

A reporting person who is a director, 10% owner and co-chief executive officer of Revolve Group, Inc. reported several transactions involving Class B and Class A common stock through MMMK Development, Inc. On December 2, 2025, 23,152 shares of Class B common stock were converted into an equal number of Class A shares at an exercise price of $0 and then sold at a weighted-average price of $25.94, leaving no indirectly held Class A shares from that block.

On December 3, 2025, 114,024 Class B shares were similarly converted to Class A and sales of 108,140 and 5,884 Class A shares were reported at weighted-average prices of $26.65 and $27.11. On December 4, 2025, another 41,563 Class B shares were converted and sold at a weighted-average price of $26.02. The filing states these sales were made under a Rule 10b5‑1 trading plan adopted on May 29, 2025, and that the reporting person has shared voting and dispositive power over shares held by MMMK Development, Inc.

Insights

Equity Ownership Analyst

Co-CEO/10% owner executed small, pre-planned sales via 10b5-1, converting Class B to Class A with large indirect stake remaining.

The filing shows the reporting person, a director, co‑CEO, and 10% owner of Revolve Group, Inc., selling shares on 12/02/2025, 12/03/2025, and 12/04/2025. Each sale involved converting Class B common stock into an equal number of Class A shares at an exercise price of $0, then selling those Class A shares through MMMK Development, Inc., an entity over which the reporter has shared voting and dispositive power.

The reported sales total 23,152 + 114,024 + 41,563 Class A shares, all indirectly held through MMMK, at weighted‑average prices around $25.94, $26.65, $27.11, and $26.02 in multiple trades. After these transactions, indirect derivative holdings of Class B common stock remain at 30,704,726 shares via MMMK, which indicates the sold amount is small compared with the continuing position. The sales occurred under a pre‑established Rule 10b5‑1 trading plan adopted on May 29, 2025, which is designed to structure transactions in advance.

The mechanism here is an internal capital structure shift: Class B shares, which are convertible and have no expiration, are turned into Class A and then sold into the market. Attention centers on the pace and size of future 10b5‑1 sales relative to the remaining 30.7 million Class B shares and any additional Form 4 activity. Over the coming quarters, the key observable item is whether similar planned conversions and sales continue at comparable volumes or change materially in scale.

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).

X

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^*

Karanikolas Michael

(Last) (First) (Middle)

C/O REVOLVE GROUP, INC.

12889 MOORE STREET

(Street)

CERRITOS CA 90703

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Revolve Group, Inc. [ RVLV ]

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

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	CO-CHIEF EXECUTIVE OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
12/02/2025

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

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

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

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
Class A Common Stock	12/02/2025		C		23,152	A	$0(1)	23,152	I	By MMMK Development, Inc.(2)
Class A Common Stock	12/02/2025		S(3)		23,152	D	$25.94(4)	0	I	By MMMK Development, Inc.(2)
Class A Common Stock	12/03/2025		C		114,024	A	$0(1)	114,024	I	By MMMK Development, Inc.(2)
Class A Common Stock	12/03/2025		S(3)		108,140	D	$26.65(5)	5,884	I	By MMMK Development, Inc.(2)
Class A Common Stock	12/03/2025		S(3)		5,884	D	$27.11(6)	0	I	By MMMK Development, Inc.(2)
Class A Common Stock	12/04/2025		C		41,563	A	$0(1)	41,563	I	By MMMK Development, Inc.(2)
Class A Common Stock	12/04/2025		S(3)		41,563	D	$26.02(7)	0	I	By MMMK Development, Inc.(2)
Class A Common Stock								123,000	D

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
Class B Common Stock	(1)	12/02/2025		C			23,152	(1)	(1)	Class A Common Stock	23,152	$0	30,860,313	I	By MMMK Development, Inc.(2)
Class B Common Stock	(1)	12/03/2025		C			114,024	(1)	(1)	Class A Common Stock	114,024	$0	30,746,289	I	By MMMK Development, Inc.(2)
Class B Common Stock	(1)	12/04/2025		C			41,563	(1)	(1)	Class A Common Stock	41,563	$0	30,704,726	I	By MMMK Development, Inc.(2)

Explanation of Responses:

1. Shares of Class B common stock are convertible into an equal number of shares of Class A common stock at any time, at the election of the holder, and have no expiration date. On the dates indicated above, the reporting person sold the number of shares of Class B common stock indicated above, resulting in the automatic conversion of such shares into an equal number of shares of Class A common stock.

2. The reporting person is a stockholder of MMMK Development, Inc. and has shared voting and dispositive power over the shares held by MMMK Development, Inc.

3. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 29, 2025.

4. The "Amount" and "Price" reported in this Column 4 reflect the aggregate number and weighted-average price, respectively, of shares sold. These shares were sold in multiple transactions at prices ranging from $25.86 to $26.02, inclusive. The reporting person undertakes to provide to Revolve Group, Inc., any security holder of Revolve 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 ranges set forth herein.

5. The "Amount" and "Price" reported in this Column 4 reflect the aggregate number and weighted-average price, respectively, of shares sold. These shares were sold in multiple transactions at prices ranging from $26.075 to $27.07, inclusive. The reporting person undertakes to provide to Revolve Group, Inc., any security holder of Revolve 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 ranges set forth herein.

6. The "Amount" and "Price" reported in this Column 4 reflect the aggregate number and weighted-average price, respectively, of shares sold. These shares were sold in multiple transactions at prices ranging from $27.09 to $27.16, inclusive. The reporting person undertakes to provide to Revolve Group, Inc., any security holder of Revolve 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 ranges set forth herein.

7. The "Amount" and "Price" reported in this Column 4 reflect the aggregate number and weighted-average price, respectively, of shares sold. These shares were sold in multiple transactions at prices ranging from $25.88 to $26.48, inclusive. The reporting person undertakes to provide to Revolve Group, Inc., any security holder of Revolve 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 ranges set forth herein.

	/s/ Jodi Lumsdaine Chapin, attorney-in-fact	12/04/2025
	** Signature of Reporting Person	Date
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