Ajay Madan Gopal, an officer of The RealReal, Inc., filed a Form 144 notice on November 12, 2026, proposing the sale of 71,027 shares of common stock, with the sale executed on November 11, 2026, through Morgan Stanley Smith Barney LLC.

Key Highlights

  • Proposed sale: 71,027 shares of The RealReal, Inc. common stock, with an aggregate market value of $1,040,680.50, according to the filing.
  • Shares outstanding: 124,713,031 shares of common stock were listed as outstanding at the time of the notice.
  • Source of shares: The shares were acquired as restricted stock from the issuer, with two tranches dated August 20, 2025 (27,027 shares) and February 20, 2025 (44,000 shares).
  • Prior sales: Gopal sold 36,418 shares on August 21, 2026, generating gross proceeds of $399,739.35, as reported in the past three months section of the filing.
  • Filing delay noted: The filing was submitted November 12, 2026 because, according to the remarks section, "the EDGAR system was not accepting filings on November 11, 2026 in observance of the federal holiday."
  • Broker: Morgan Stanley Smith Barney LLC Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004, is named as the executing broker.

Gopal's Proposed Sale of Restricted Stock in The RealReal

The RealReal, Inc. (NASDAQ:REAL), a San Francisco-based company located at 55 Francisco Street, Suite 400, filed a Form 144 notice on behalf of officer Ajay Madan Gopal. The notice covers a proposed sale of 71,027 shares of the company's common stock, with an approximate sale date of November 11, 2026, and a stated aggregate market value of $1,040,680.50.

According to the filing, the shares proposed for sale were acquired in two separate restricted stock grants from the issuer: 44,000 shares acquired on February 20, 2025, and 27,027 shares acquired on August 20, 2025. Both tranches were acquired directly from The RealReal, Inc., with payment described as "Not Applicable" in the filing. The company's SEC file number is listed as 001-38953, and its registered securities trade on NASDAQ.

The filing also discloses that Gopal sold 36,418 shares of common stock on August 21, 2026, in a prior transaction, generating gross proceeds of $399,739.35. That prior sale is reported as required under Form 144's disclosure of securities sold during the past three months by the person filing the notice.

What Was Disclosed

This Form 144 notice discloses Ajay Madan Gopal's proposed sale of 71,027 shares of The RealReal, Inc. common stock, acquired as restricted stock, with an aggregate market value of $1,040,680.50, executed through Morgan Stanley Smith Barney LLC and filed November 12, 2026.