Suko Todd A 4

What Happened

• Todd A. Suko, Chief Legal Officer and Secretary of TheRealReal, sold a total of 17,353 shares in three open-market transactions on May 21, 2026. The sales were: 10,762 shares at $9.25 ($99,549), 4,142 shares at $9.25 ($38,314), and 2,449 shares at $9.25 ($22,653), totaling $160,516.
• These transactions are reported as sales (S) and, per the filing footnote, were automatic stock sales to satisfy withholding taxes related to the vesting of an equity award (tax-withholding disposition).

Key Details

• Transaction date and price: May 21, 2026 — all at $9.25 per share.
• Total shares sold: 17,353; total proceeds ≈ $160,516.
• Reason/footnote: F1 — shares automatically sold to satisfy tax withholding on vesting. F2 notes 902 shares were acquired on May 14, 2026 via the company ESPP. F3 corrects an earlier reporting omission of 2,426 ESPP shares sold on 11/25/2025.
• Shares owned after transaction: not specified in the supplied Form 4 details.
• Filing timeliness: Report filed on 2026-05-22 for transactions on 2026-05-21 — appears timely (one day later).

Context

• These were routine, non-discretionary sales to cover tax withholding on vested awards (common executive paperwork), which generally do not signal a change in insider sentiment. Sales to cover taxes (F) differ from discretionary open-market sales intended to realize gains.
• For retail investors, purchases by insiders are often more informative than routine tax-related sales; treat this filing as administrative rather than a strong buy/sell signal.