The RealReal Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
May 08 2024 - 4:05PM
The RealReal, Inc. (NASDAQ: REAL) – the world’s largest online
marketplace for authenticated, resale luxury goods – today
announced that it granted equity awards on May 8, 2024 as a
material inducement to the employment of the company’s newly-hired
Chief Financial Officer, Ajay Gopal.
In connection with the appointment of Gopal as Chief Financial
Officer on March 18, 2024, The RealReal granted Gopal employment
inducement awards consisting of (a) 700,000 time-based restricted
stock units (“RSUs”) and (b) 550,000 performance-based restricted
stock units (“PSUs”), each with an effective grant date of May 8,
2024. The RSUs will vest 25% on the first anniversary of February
20, 2024 and in 12 substantially equal quarterly installments
thereafter, subject to Gopal’s continuous employment on each
vesting date. The PSUs will vest in four tranches over a four-year
performance period based on Mr. Gopal’s continuous employment
through the service period for the applicable tranche and The
RealReal’s stock price achievement.
The inducement awards to Gopal were granted as a material
inducement to his employment and were approved by The RealReal’s
Board of Directors on May 8, 2024, in accordance with Nasdaq
Listing Rule 5635(c)(4). The awards were granted outside The
RealReal’s equity incentive plans.
For more information, visit Investor.TheRealReal.com.
About The RealReal Inc.The RealReal is the
world’s largest online marketplace for authenticated, resale luxury
goods, with more than 36 million members. With a rigorous
authentication process overseen by experts, The RealReal provides a
safe and reliable platform for consumers to buy and sell their
luxury items. We have hundreds of in-house gemologists, horologists
and brand authenticators who inspect thousands of items each day.
As a sustainable company, we give new life to pieces by thousands
of brands across numerous categories—including women's and men's
fashion, fine jewelry and watches, art and home—in support of the
circular economy. We make selling effortless with free virtual
appointments, in-home pickup, drop-off and direct shipping. We
handle all of the work for consignors, including authenticating,
using AI and machine learning to determine optimal pricing,
photographing and listing their items, as well as shipping and
customer service.
Investor Relations Contact:Caitlin
Howecaitlin.howe@therealreal.com
Press Contact:Laura
Hogyalaura.hogya@therealreal.com
RealReal (NASDAQ:REAL)
Historical Stock Chart
From Apr 2024 to May 2024
RealReal (NASDAQ:REAL)
Historical Stock Chart
From May 2023 to May 2024