The RealReal Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)
March 04 2024 - 3:05PM
The RealReal, Inc. (NASDAQ: REAL) – the world’s largest online
marketplace for authenticated, resale luxury goods – today
announced that it granted equity awards on March 4, 2024 as a
material inducement to the employment of the company’s newly-hired
Chief People Officer, Chatelle Lynch, and Chief Marketing Officer,
Sri Batchu.
In connection with the appointment of Lynch as Chief People
Officer on December 26, 2023 and Batchu as Chief Marketing Officer
on February 26, 2024, The RealReal granted each of Lynch and Batchu
an employment inducement award consisting of 650,000 restricted
stock units (“RSUs”). The RSUs will vest 25% on the first
anniversary of November 20, 2023, in the case of Lynch’s award, and
of February 20, 2024, in the case of Batchu’s award, and in each
case in 12 substantially equal quarterly installments thereafter,
subject to the applicable executive’s continuous employment on each
vesting date.
The inducement awards to Lynch and Batchu were granted as a
material inducement to their employment and were approved by The
RealReal’s Board of Directors on February 20, 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 35 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