Form 4: TheRealReal CEO Reports Routine Stock Transactions

TheRealReal CEO Rati Sahi Levesque reported automatic stock sales for tax withholding and an acquisition of restricted stock units.

Summary

• TheRealReal, Inc. CEO Rati Sahi Levesque engaged in multiple transactions on February 23, 2026.
• A total of 121,399 shares of common stock were automatically sold at $10.72 per share to satisfy tax withholding obligations related to the vesting of equity awards.
• This included sales of 5,265, 15,339, 26,294, 19,721, and 54,780 shares.
• The sale of 26,294 shares specifically related to the vesting of 50,000 shares from a performance award granted on March 3, 2023.
• Levesque also acquired 179,691 shares of common stock upon the vesting of restricted stock units (RSUs) at a price of $0.
• Following these transactions, beneficial ownership of common stock stands at 1,662,470 shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine insider transaction, with the RSU acquisition slightly outweighing the tax-related sales in terms of long-term alignment, resulting in a neutral to slightly positive sentiment.

Positives

• Acquisition of 179,691 shares of common stock through RSU vesting, indicating continued equity compensation and alignment of the CEO's interests with shareholders.

Negatives

• Multiple sales of common stock totaling 121,399 shares, although these were automatic for tax withholding purposes and not discretionary.

Future Outlook

The restricted stock units granted to the Reporting Person will vest in twelve equal installments on a quarterly basis from the vesting commencement date.

Management Comments

• Shares of common stock were automatically sold by The RealReal, Inc. to satisfy withholding taxes payable in connection with the vesting of an equity award.
• The restricted stock units were granted to the Reporting Person pursuant to TheRealReal Inc. 2019 Equity Incentive Plan.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those related to equity compensation and tax withholding, are common and generally do not signal a change in management's outlook on the company's fundamentals. The acquisition of restricted stock units reinforces long-term alignment of executive interests with shareholder value.

Stakeholder Impact

• Shareholders: The CEO's continued receipt of equity compensation aligns her interests with shareholders. The tax-related sales are a normal part of equity vesting and do not necessarily indicate a lack of confidence in the company's future.

Next Steps

• The newly acquired restricted stock units will vest in twelve equal installments on a quarterly basis from their vesting commencement date.

Key Dates

Recommendation

This filing details routine insider transactions related to executive compensation and tax obligations. It does not provide new fundamental information about TheRealReal's operational performance, strategic direction, or financial health that would warrant a change in investment recommendation. The acquisition of restricted stock units indicates continued long-term alignment of the CEO with shareholder interests, while the sales are non-discretionary tax-related events.

Keywords

TheRealReal, REAL, Rati Sahi Levesque, CEO, Form 4, insider trading, stock transactions, equity compensation, restricted stock units, tax withholding