CWGL director and 10% owner increases stake with 106K-share buy

Rhea-AI Filing Summary

Crimson Wine Group, Ltd. (CWGL) director and 10% owner reported buying 106,308 shares of common stock in an open-market purchase on 11/20/2025 at a weighted average price of $4.96 per share.

The filing notes that the shares were acquired in multiple trades at prices ranging from $4.90 to $5.02. Following this transaction, the reporting person beneficially owns 1,216,801 shares, held directly. The filer has agreed to provide detailed trade-by-trade pricing information to the company, its security holders, or the SEC staff upon request.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cumming John D.

(Last) (First) (Middle)

C/O CRIMSON WINE GROUP, LTD.

5901 SILVERADO TRAIL

(Street)

NAPA CA 94558

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Crimson Wine Group, Ltd [ CWGL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/20/2025		P		106,308	A	$4.96(1)	1,216,801	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.90 to $5.02, inclusive. The reporting person undertakes to provide to Crimson Wine Group, Ltd., any security holder of the Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.

Remarks:

	/s/ Adam D. Howell, as attorney-in-fact	11/24/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction was reported for Crimson Wine Group (CWGL)?

A director and 10% owner of Crimson Wine Group, Ltd. (CWGL) reported purchasing 106,308 shares of common stock on 11/20/2025 in an open-market transaction.

At what price were the CWGL shares purchased in this Form 4 filing?

The 106,308 CWGL shares were bought at a weighted average price of $4.96 per share, with individual trades executed between $4.90 and $5.02.

How many Crimson Wine Group shares does the insider own after this transaction?

After the reported purchase, the insider beneficially owns 1,216,801 shares of Crimson Wine Group common stock, held directly.

What is the insider’s relationship to Crimson Wine Group (CWGL)?

The reporting person is both a director and a 10% owner of Crimson Wine Group, Ltd., as indicated in the filing.

Were the CWGL purchases made in multiple transactions?

Yes. The filing explains that the shares were purchased in multiple transactions within a price range of $4.90 to $5.02, resulting in a weighted average price of $4.96 per share.

Can investors get detailed pricing for each CWGL trade in this insider purchase?

Yes. The reporting person undertakes to provide full information on the number of shares purchased at each separate price within the stated range to the company, any security holder, or SEC staff upon request.