Friang Luke Thomas 4

What Happened

• Friang Luke Thomas, Chief Product & Tech Officer of TheRealReal (REAL), disposed of a total of 21,183 shares on 2026-05-21 at $9.25 per share, for proceeds of roughly $195,943. The filing reports four separate dispositions: 8,159 shares ($75,471), 8,202 shares ($75,869), 2,405 shares ($22,246), and 2,417 shares ($22,357). These were sales (dispositions), not purchases.

Key Details

• Transaction date: 2026-05-21; reported on Form 4 filed 2026-05-22 (timely filing).
• Price: $9.25 per share for all reported lots.
• Total shares sold: 21,183; total proceeds ≈ $195,943.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Footnote: F1 indicates these shares were automatically sold by TheRealReal to satisfy withholding taxes payable in connection with the vesting of an equity award (tax withholding sale).
• Transaction type code: S (sale / open market or private sale).

Context

• These sales were routine tax-withholding dispositions tied to the vesting of an equity award (cashless/automatic sale to meet tax obligations), which are common and generally do not signal the insider taking a directional view on the stock. Purchases tend to be more informative about insider sentiment; this filing documents a routine withholding-related sale.