Real REMAX (REAX) Director Erik Carlson Receives Awards

What Happened

• Erik Carlson, a director of Real REMAX Group Inc. (REAX), was granted/received a mix of common shares and restricted share units (RSUs) on August 24, 2026 as part of the issuer’s merger with Real Brokerage Inc. and RE/MAX Holdings. The Form 4 reports six acquisition entries totaling 721,554 shares/RSUs (119,556 common shares + 601,998 derivative/RSU awards). Prices are reported as N/A because these were conversion/award transactions tied to the merger, not open-market trades.
• Carlson elected cash consideration for 144,040 REMAX shares under the merger’s proration rules, which (per the filing) translated into a cash component of $4.33 per share plus a fractional share component (0.3535 shares) for each cash-elected REMAX share, subject to proration.

Key Details

• Transaction date: August 24, 2026. Filing: amended Form 4 filed September 3, 2026 to correct previous reporting.
• Reported acquisitions: 119,556 common shares; 33,227 RSUs; 87,864 RSUs; 184,221 RSUs; 112,465 RSUs; 184,221 RSUs (total ~721,554).
• Cash elected on 144,040 REMAX shares (per footnote): resulted in ~$623,693 in cash (144,040 × $4.33) plus ~50,918 issuer shares (0.3535 × 144,040), subject to proration.
• Many awards are derivative RSUs with vesting schedules and performance targets (see footnotes: time‑based vesting in 2027 and later; performance RSUs target amounts for performance periods ending Dec 31, 2027 and Dec 31, 2028).
• This filing is an amendment to the Form 4 originally filed Aug 24, 2026 — it moves RSUs to Table II and corrects previously misreported post‑transaction holdings (prior clerical figures shown as 98,031 and 770,844).

Context

• These transactions arise from the Merger Agreement (share consolidation and conversion rules) and represent conversion/award mechanics, not purchases or open‑market sales. Many of the RSUs are time- or performance‑based and may vest only after future dates or contingent performance results — meaning they do not necessarily reflect an immediate buy or sell by the insider.
• For retail investors: awards and merger conversions increase an insider’s reported holdings but often come with vesting or performance conditions, so treat them differently from outright purchases (which may be a stronger immediate bullish signal).