[Form 4] Crimson Wine Group, Ltd Insider Trading Activity

Rhea-AI Filing Summary

Crimson Wine Group, Ltd. (CWGL) reported an insider stock purchase by a reporting person who is both a director and 10% owner. On 11/20/2025, the insider bought 106,308 shares of common stock in an open market transaction at a weighted average price of $4.96 per share. The filing notes that the individual now directly owns 1,264,537 shares of common stock, in addition to multiple indirect holdings through various family trusts and holding companies. The price footnote explains that the shares were acquired in several trades at prices ranging from $4.90 to $5.02 per share, and detailed trade breakdowns are available 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

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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^*

STEINBERG JOSEPH S

(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)	1,264,537	D
Common Stock								107,862	I	By Paul S. Steinberg 2004 Trust
Common Stock								107,860	I	By Sarah A. Steinberg 2004 Trust
Common Stock								107,860	I	By Rachel C. Steinberg 2004 Trust
Common Stock								57,403	I	By JSS 2010 Family Trust
Common Stock								13,200	I	By Spouse
Common Stock								720	I	By Daughter
Common Stock								200,000	I	By JSS Holding Corp - 1
Common Stock								70,000	I	By JSS Holding Corp - 2
Common Stock								200,000	I	By JSS Holding Corp - 3
Common Stock								200,000	I	By JSS Holding Corp - 4
Common Stock								200,000	I	By JSS Holding Corp - 5
Common Stock								200,000	I	By JSS Holding Corp - 6
Common Stock								200,000	I	By JSS Holding Corp - 7
Common Stock								114,806	I	By Steinberg Holding Inc - E
Common Stock								114,806	I	By Steinberg Holding Inc - D
Common Stock								114,806	I	By Steinberg Holding Inc - F
Common Stock								114,806	I	By Steinberg Holding Inc - G

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 did the CWGL Form 4 filing report?

The Form 4 reported that a reporting person who is a director and 10% owner of Crimson Wine Group, Ltd. (CWGL) purchased additional shares of the company’s common stock.

How many Crimson Wine Group (CWGL) shares were purchased in this Form 4?

The reporting person purchased 106,308 shares of CWGL common stock in the reported transaction.

What was the purchase price for the CWGL shares in the Form 4?

The filing shows a weighted average purchase price of $4.96 per share, with individual trades executed between $4.90 and $5.02 per share.

What is the insider’s direct ownership in CWGL after this transaction?

After the reported purchase, the insider directly owns 1,264,537 shares of Crimson Wine Group common stock.

Does the CWGL insider hold additional shares indirectly?

Yes. The Form 4 lists multiple indirect holdings in CWGL common stock through various family trusts and holding companies, each showing separate share amounts.

On what date did the CWGL insider transaction occur?

The earliest transaction date reported in the Form 4 is 11/20/2025.