Lo Steve Ming 4

What Happened Steve Lo (listed on the Form 4 as Lo Steve Ming), TheRealReal's Chief Accounting Officer, reported three dispositions on 2026-02-23. The transactions were sales (code S) of:

• 6,051 shares at $10.72 each for $64,867
• 8,796 shares at $10.72 each for $94,293
• 2,115 shares at $10.72 each for $22,673 Total: 16,962 shares sold for aggregate proceeds of $181,833. These sales were reported on a Form 4 filed 2026-02-24.

Key Details

• Transaction date and price: 2026-02-23, all sales at $10.72 per share.
• Total shares sold: 16,962; total proceeds: $181,833.
• Shares owned after the transaction: not specified in the provided filing details.
• Footnote F1: The shares were automatically sold by The RealReal to satisfy withholding taxes payable in connection with the vesting of an equity award (company share withholding).
• Filing timeliness: Form filed 2026-02-24 for trades on 2026-02-23; no late filing indicated.

Context These dispositions were automatic tax-withholding sales tied to vested equity awards, a routine administrative event (not an open-market investment decision by the insider). Such company-run withholding sales are common and generally should not be interpreted as a personal bearish signal. Retail investors often treat purchases or voluntary sales by insiders as more informative than mandatory tax-withholding disposals.