TheRealReal, Inc. — Director's Dealing 2026

Jan 7, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TheRealReal, Inc. (REAL)
CIK: 0001573221
Period of Report: 2025-12-31

Reporting Person: Leondakis Niki (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-31	Common Stock	A	554	—	Acquired	207489	Direct

Footnotes

F1: Represents shares of TheRealReal, Inc. common stock that will be issued to the Reporting Person upon settlement of deferred restricted stock units (DRSUs). Each DRSU is the economic equivalent of one share of TheRealReal, Inc. common stock.

F2: The DRSUs were granted to the Reporting Person on December 31, 2025 pursuant to TheRealReal Inc. 2019 Equity Incentive Plan and are fully vested. The DRSUs are deferred and generally will be settled upon the Reporting Persons separation from service as a Non-Employee Director of the TheRealReal Inc. or a date elected by the Reporting Person.