RMCF insider Geygan reports stock purchases; 1.78M indirect stake

Rhea-AI Filing Summary

Rocky Mountain Chocolate Factory (RMCF) insider activity: Jeffrey R. Geygan, Interim CEO, Director, and 10% Owner, reported open‑market purchases of common stock on two dates. On 10/21/2025, accounts managed by Global Value Investment Corporation (GVIC) bought 14,562 shares at a weighted average price of $1.6537. On 10/22/2025, GVIC‑managed accounts bought 8,775 shares at a weighted average price of $1.7801.

Following these transactions, indirect holdings attributed to GVIC oversight were reported as 1,769,498 and then 1,778,273 shares. The filing also shows a separate 185,041 shares held directly. The report notes GVIC is controlled by Mr. Geygan and includes a standard disclaimer that beneficial ownership is claimed only to the extent of his pecuniary interest.

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^*

GEYGAN JEFFREY RICHART

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Rocky Mountain Chocolate Factory, Inc. [ RMCF ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/21/2025

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	10/21/2025		P		14,562	A	$1.6537(1)	1,769,498	I	By Global Value Investment Corporation(2)(3)
Common Stock	10/22/2025		P		8,775	A	$1.7801(1)	1,778,273	I	By Global Value Investment Corporation(2)(3)
Common Stock								185,041	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 reported price represents a weighted average purchase price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares purchased at each separate price.

2. These securities are held in one or more accounts managed indirectly by Global Value Investment Corporation or its subsidiary or its affiliated entities (collectively, "GVIC"). GVIC is controlled by the reporting person. These securities may be deemed to be beneficially owned by the reporting person because he controls GVIC, and GVIC may be deemed to have beneficial ownership of these securities because it serves as the investment manager to separate managed accounts and/or investment partnerships.

3. The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

	Jeffrey R. Geygan	10/23/2025
	** 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 transactions were reported for RMCF?

Jeffrey R. Geygan reported purchases of 14,562 shares at $1.6537 on 10/21/2025 and 8,775 shares at $1.7801 on 10/22/2025.

How many RMCF shares are reported as indirectly owned after the transactions?

Indirect holdings were reported as 1,778,273 shares following the 10/22/2025 transaction.

Does the insider hold any RMCF shares directly?

Yes. The filing shows 185,041 shares held with direct ownership.

Who manages the accounts holding the indirectly owned shares?

The shares are in accounts managed by Global Value Investment Corporation (GVIC), which is controlled by Mr. Geygan.

What pricing details were disclosed for the purchases?

Prices are weighted averages: $1.6537 for 10/21/2025 and $1.7801 for 10/22/2025. The filer undertakes to provide full pricing breakdowns upon request.

Is there a statement about beneficial ownership in the filing?

Yes. The filer disclaims beneficial ownership except to the extent of his pecuniary interest.