Form 4: TheRealReal Director Gilbert L. Baird III Reports Changes in Beneficial Ownership

Director Gilbert L. Baird III reports acquisition of restricted stock units and adjustments to beneficial ownership of TheRealReal, Inc. shares.

Summary

• On July 25, 2023, Gilbert L. Baird III, a director of TheRealReal, Inc., reported changes in his beneficial ownership of the company's stock.
• He acquired 118,947 restricted stock units (RSUs) at a price of $0.00.
• These RSUs vest on the earlier of the first anniversary of the grant date or the date immediately preceding the next annual meeting of the company's stockholders, contingent upon continued service.
• The report also reflects a reduction in shares of Common Stock underlying RSUs held directly by the Reporting Person for the benefit of GreyLion, and a corresponding increase in shares held indirectly through GreyLion.
• Baird also indirectly owns 7,516,570 shares through GreyLion.
• Specifically, these shares are held by PWP Growth Equity Fund II LP (5,785,182 shares) and PWP Growth Equity Fund II B LP (1,665,148 shares).
• GreyLion Partners LP has investment, management, and voting control over these shares due to a spin-off from Perella Weinberg Partners Capital Management LP on June 15, 2020.
• David Ferguson and Gilbert L. Baird III are members of the GreyLion Partners investment committee and control voting and investment decisions related to these shares.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing detailing changes in beneficial ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common practice for publicly traded companies. It provides transparency to investors regarding the holdings and transactions of key individuals within the company.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership structure and transactions of company insiders.
• It assures stakeholders that insider transactions are being monitored and disclosed in accordance with regulations.

Key Dates