Madan Gopal Ajay 4

What Happened

• Madan Gopal Ajay, Chief Financial Officer of TheRealReal, sold a total of 35,023 shares on May 21, 2026 in three transactions. The sales were at $9.25 per share for proceeds of $209,772 (22,678 shares), $71,762 (7,758 shares), and $42,430 (4,587 shares), totaling $323,964.
• These were sales (transaction code S) and, per the filing footnote, represent automatic share disposals to satisfy withholding taxes tied to the vesting of an equity award — a routine, tax-withholding driven sale rather than an active open-market investment decision.

Key Details

• Transaction date: May 21, 2026; Price: $9.25 per share.
• Total shares sold: 35,023; Total proceeds: $323,964.
• Filing date: May 22, 2026 (timely filing, within required Form 4 window).
• Footnotes: F1 — shares were automatically sold to satisfy withholding taxes related to vesting; F2 — filing notes 994 shares were acquired on May 14, 2026 through the company’s ESPP.
• Shares owned after the transaction: not specified in the information provided in this summary.

Context

• The filing indicates a tax-withholding sale tied to equity vesting (often routine); such sales do not necessarily signal management views on the company’s outlook.
• For retail investors, purchases by insiders tend to be more informative about conviction; routine withholding sales are common following vesting events.