TheRealReal, Inc. — Director's Dealing 2025

Nov 19, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TheRealReal, Inc. (REAL)
CIK: 0001573221
Period of Report: 2025-11-17

Reporting Person: Baird Gilbert L. III (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-17	Common Stock	S	7686442	$13.21	Disposed	0	Indirect

Footnotes

F1: Reflects the sale of 7,686,442 shares of common stock of TheRealReal, Inc. (the "Issuer"), par value $0.00001 per share (the "Common Stock"), in a block sale at a price per share of $13.21 pursuant to Rule 144 of the Securities Act of 1933, as amended.

F2: The shares of Common Stock were held by PWP Growth Equity Fund II LP and PWP Growth Equity Fund II B LP (collectively, the "Funds") for which investing, management and voting control is exercised by GreyLion Partners LP (together with its affiliates, "GreyLion Partners") and by GreyLion Partners LP. David Ferguson and Gilbert L. Baird III (the "Reporting Person") are members of the GreyLion Partners investment committee and control voting and investment decisions related to the shares reported herein.