Business Context and Reporting Period
This Form 8-K Current Report was filed by The RealReal, Inc. on March 9, 2026, covering events that occurred on March 6, 2026. The filing addresses changes to the Company's Board of Directors.
Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The document focuses exclusively on corporate governance changes.
Material Changes
- Board Resignation: Niki Leondakis resigned from the Board of Directors on March 6, 2026, citing expanded professional and personal responsibilities.
- Board Appointment: Jennifer McKeehan was appointed as a Class II Director on March 6, 2026. Her term expires at the 2027 annual meeting of stockholders.
- Committee Assignment: Ms. McKeehan will serve on the Corporate Governance and Nominating Committee.
Management Commentary and Compensation
The Company expressed gratitude for Ms. Leondakis's service. Ms. McKeehan brings significant operational experience, having served as Chief Operating Officer of Fanatics Commerce since September 2024, and previously held senior roles at Walmart, Peloton, and Home Depot.
Compensation Arrangements for Ms. McKeehan:
- Cash Retainer: $35,000 annually, paid quarterly.
- Equity Award: $165,000 in restricted stock units (RSUs) under the 2019 Equity Incentive Plan.
- Vesting Schedule: RSUs vest on the earlier of the one-year anniversary of the grant or the date immediately prior to the annual meeting of stockholders occurring after the grant date.
- Pro Rata Adjustment: Initial cash and equity awards are adjusted pro rata for the first partial year of service.
No other arrangements or transactions requiring disclosure under Item 404(a) of Regulation S-K exist between Ms. McKeehan and the Company.
Key Facts for Investor Verification
- Verify the effective date of Ms. McKeehan's appointment and her specific committee assignments.
- Confirm the vesting terms of the $165,000 RSU grant and the pro rata adjustment for the partial year.
- Review the press release (Exhibit 99.1) for additional context on the strategic rationale for the board change.
- Note that this filing contains no financial performance data; refer to the most recent 10-K or 10-Q for financial metrics.