RFL director files Form 3 showing zero Class B ownership

Rhea-AI Filing Summary

Rafael Holdings (RFL) filed a Form 3 for a newly reported director effective 10/23/2025. The filing states the reporting person beneficially owns 0 shares of Class B Common Stock on a direct (D) basis and lists no derivative securities. The form is identified as filed by one reporting person.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider GRAYSON ALAN

Role Director

Type	Security	Shares	Price	Value
holding	Class B Common Stock, par value $.01 per share	--	--	--

Holdings After Transaction: Class B Common Stock, par value $.01 per share — 0 shares (Direct)

Footnotes (1)

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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

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1. Name and Address of Reporting Person^*

GRAYSON ALAN

(Last) (First) (Middle)

C/O RAFAEL HOLDINGS, INC.

520 BROAD STREET

(Street)

NEWARK NJ 07102

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
10/23/2025

3. Issuer Name and Ticker or Trading Symbol
Rafael Holdings, Inc. [ RFL ]

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

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

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class B Common Stock, par value $.01 per share	0	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Joyce J Mason, by Power of Attorney	11/03/2025
	** 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 5 (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 Rafael Holdings (RFL) disclose in this Form 3?

An initial beneficial ownership statement for a director effective 10/23/2025.

How many Rafael Holdings Class B shares does the reporting person own?

The filing shows 0 shares of Class B Common Stock beneficially owned, held directly.

Are there any derivative securities reported in this Form 3 for RFL?

No. The filing lists no derivative securities.

What is the relationship of the reporting person to Rafael Holdings (RFL)?

The reporting person is a director.

Is this Form 3 filed by one or multiple reporting persons?

It is indicated as Form filed by One Reporting Person.