RMCF

SEC source: 0001209191-23-043659 · doc4.xml · nonDerivative · entry 2

GLOBAL VALUE INVESTMENT CORP. · CIK 0001569866 · 10% owner

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Director and Officer of GVIC

GEYGAN JAMES · CIK 0001734726 · Director and Officer of GVIC

GVP 2021-A, L.P. · CIK 0001955705 · GVIC-Controlled Entity

GVP 2021-A, LLC · CIK 0001955706 · GVIC-Controlled Entity

Wilke Stacy · CIK 0001865363 · Officer of GVIC

Geygan Kathleen · CIK 0001865425 · Director of GVIC

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes

Disclosed balance after: 709,835

F1 · price: 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.

F2 · balance_after: In addition to Global Value Investment Corp, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, and Kathleen M. Geygan, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

F3 · balance_after: In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, and Kathleen M. Geygan.

SEC source: 0001437749-26-030932 · rdgdoc.xml · nonDerivative · entry 1

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 110,079

SEC source: 0001437749-26-030930 · rdgdoc.xml · nonDerivative · entry 1

Quinn Brian J · CIK 0002060191 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 105,961

F1 · kind: Represents common stock grant to directors for Board of Directors committee participation

SEC source: 0001437749-26-030925 · rdgdoc.xml · nonDerivative · entry 1

Perez Jacome Friscione Alberto · CIK 0002105595 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 86,016

F1 · kind: Represents common stock grant to directors for Board of Directors committee participation

SEC source: 0001193125-26-386887 · ownership.xml · nonDerivative · entry 3

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Global Value Investment Corporation

Disclosed balance after: 1,775,873

F4 · price: As of September 9, 2026, certain separately managed accounts terminated their relationship with, and are no longer advised by, GVIC. The positions held in such accounts are therefore no longer included herein.

F2 · ownership.nature: 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.

F3 · ownership.nature: 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.

SEC source: 0001193125-26-386887 · ownership.xml · nonDerivative · entry 2

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 244,563

F1 · price: Represents a common stock grant to Jeffrey R. Geygan pursuant to the issuer board of director compensation program.

SEC source: 0001437749-26-029598 · rdgdoc.xml · nonDerivative · entry 1

Craig Steven Lynn · CIK 0002004420 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 364,289

F1 · date: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program.

SEC source: 0001437749-26-029596 · rdgdoc.xml · nonDerivative · entry 1

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 103,079

F1 · date: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program.

SEC source: 0001437749-26-029594 · rdgdoc.xml · nonDerivative · entry 1

Quinn Brian J · CIK 0002060191 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 98,961

F1 · date: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program.

SEC source: 0001437749-26-029592 · rdgdoc.xml · nonDerivative · entry 1

Perez Jacome Friscione Alberto · CIK 0002105595 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 79,016

F1 · date: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program.

SEC source: 0001193125-26-386887 · ownership.xml · nonDerivative · entry 1

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 188,941

F1 · price: Represents a common stock grant to Jeffrey R. Geygan pursuant to the issuer board of director compensation program.

SEC source: 0001437749-26-029002 · rdgdoc.xml · nonDerivative · entry 1

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 47,457

F1 · kind: Represents common stock grant to directors for Board of Directors committee participation

SEC source: 0001437749-26-029000 · rdgdoc.xml · nonDerivative · entry 1

Quinn Brian J · CIK 0002060191 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 43,339

F1 · kind: Represents common stock grant to directors for Board of Directors committee participation

SEC source: 0001437749-26-028996 · rdgdoc.xml · nonDerivative · entry 1

Perez Jacome Friscione Alberto · CIK 0002105595 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 23,394

F1 · kind: Represents common stock grant to directors for Board of Directors committee participation

SEC source: 0001209750-26-000005 · primary_doc.xml · nonDerivative · entry 1

Harper Allen C · CIK 0001209750 · Interim CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 124,519

F1 · kind: Represents executive compensation stock grant in accordance with employment agreement.

SEC source: 0002035146-26-000005 · primary_doc.xml · nonDerivative · entry 2

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 860,000

SEC source: 0001209750-26-000003 · primary_doc.xml · nonDerivative · entry 2

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 860,000

F1 · ownership.nature: By American Heritage Railways, Inc. 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.

SEC source: 0002035146-26-000005 · primary_doc.xml · nonDerivative · entry 1

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 910,000

SEC source: 0001209750-26-000003 · primary_doc.xml · nonDerivative · entry 1

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 910,000

F1 · ownership.nature: By American Heritage Railways, Inc. 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.

SEC source: 0001437749-26-007102 · rdgdoc.xml · nonDerivative · entry 1

Cass Carrie E · CIK 0002031839 · CFO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 124,263

F1 · kind: Represents an executive compensation common stock grant as approved by the Board of Directors.

SEC source: 0002035146-26-000003 · primary_doc.xml · nonDerivative · entry 7

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 945,900

SEC source: 0001209750-26-000002 · primary_doc.xml · nonDerivative · entry 7

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 945,900

F1 · ownership.nature: 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.

SEC source: 0002035146-26-000003 · primary_doc.xml · nonDerivative · entry 6

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 954,818

SEC source: 0001209750-26-000002 · primary_doc.xml · nonDerivative · entry 6

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 954,818

F1 · ownership.nature: 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.

SEC source: 0002035146-26-000003 · primary_doc.xml · nonDerivative · entry 5

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 966,115

SEC source: 0001209750-26-000002 · primary_doc.xml · nonDerivative · entry 5

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 966,115

F1 · ownership.nature: 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.

SEC source: 0002035146-26-000003 · primary_doc.xml · nonDerivative · entry 4

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 971,356

SEC source: 0001209750-26-000002 · primary_doc.xml · nonDerivative · entry 4

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 971,356

F1 · ownership.nature: 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.

SEC source: 0002035146-26-000003 · primary_doc.xml · nonDerivative · entry 3

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 990,071

SEC source: 0001209750-26-000002 · primary_doc.xml · nonDerivative · entry 3

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 990,071

F1 · ownership.nature: 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.

SEC source: 0002035146-26-000003 · primary_doc.xml · nonDerivative · entry 2

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 990,501

SEC source: 0001209750-26-000002 · primary_doc.xml · nonDerivative · entry 2

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 990,501

F1 · ownership.nature: 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.

SEC source: 0002035146-26-000003 · primary_doc.xml · nonDerivative · entry 1

American Heritage Railways, Inc. · CIK 0002035146 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 998,000

SEC source: 0001209750-26-000002 · primary_doc.xml · nonDerivative · entry 1

Harper Allen C · CIK 0001209750 · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By American Heritage Railways, Inc.

Disclosed balance after: 998,000

F1 · ownership.nature: 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.

SEC source: 0001193125-26-019954 · ownership.xml · nonDerivative · entry 1

GLOBAL VALUE INVESTMENT CORP. · CIK 0001569866 · 10% owner

GVP 2021-A, L.P. · CIK 0001955705 · GVIC-Controlled Entity

GVP 2021-A, LLC · CIK 0001955706 · GVIC-Controlled Entity

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

GEYGAN JAMES · CIK 0001734726 · Director and Officer of GVIC

Wilke Stacy · CIK 0001865363 · Officer of GVIC

Geygan Kathleen · CIK 0001865425 · Director of GVIC

Rice Shawn G · CIK 0002007274 · Director of GVIC

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes.

Disclosed balance after: 1,971,306

F1 · price: 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.

F2 · ownership.nature: In addition to Global Value Investment Corp, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

F3 · ownership.nature: In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.

SEC source: 0001193125-26-019955 · ownership.xml · nonDerivative · entry 1

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Global Value Investment Corporation

Disclosed balance after: 1,792,478

F1 · price: 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.

F2 · ownership.nature: 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.

F3 · ownership.nature: 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.

SEC source: 0001437749-25-038590 · rdgdoc.xml · nonDerivative · entry 1

Craig Steven Lynn · CIK 0002004420 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 308,667

F1 · kind: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program

SEC source: 0001437749-25-038587 · rdgdoc.xml · nonDerivative · entry 1

KEATING MELVIN L · CIK 0001263463 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 40,457

F1 · kind: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program.

SEC source: 0001437749-25-038596 · rdgdoc.xml · nonDerivative · entry 1

Quinn Brian J · CIK 0002060191 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 36,339

F1 · kind: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program

SEC source: 0001437749-26-001379 · rdgdoc.xml · nonDerivative · entry 1

Perez Jacome Friscione Alberto · CIK 0002105595 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,394

F1 · kind: Represents the annual common stock grant to non-employee directors pursuant to the Board of Directors compensation program.

SEC source: 0001193125-25-301030 · ownership.xml · nonDerivative · entry 1

GLOBAL VALUE INVESTMENT CORP. · CIK 0001569866 · 10% owner

GVP 2021-A, L.P. · CIK 0001955705 · GVIC-Controlled Entity

GVP 2021-A, LLC · CIK 0001955706 · GVIC-Controlled Entity

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

GEYGAN JAMES · CIK 0001734726 · Director and Officer of GVIC

Wilke Stacy · CIK 0001865363 · Officer of GVIC

Geygan Kathleen · CIK 0001865425 · Director of GVIC

Rice Shawn G · CIK 0002007274 · Director of GVIC

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes.

Disclosed balance after: 1,960,006

F1 · kind: On November 24, 2025, GVIC executed a non-discretionary, unsolicited trade in a client account, at the sole direction of the account owner, for the purpose of tax management.

F2 · price: The reported price represents a weighted average sale price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares sold at each separate price.

F3 · ownership.nature: In addition to Global Value Investment Corporation, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

F4 · ownership.nature: In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.

SEC source: 0001193125-25-301031 · ownership.xml · nonDerivative · entry 1

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Global Value Investment Corporation

Disclosed balance after: 1,781,178

F1 · kind: On November 24, 2025, GVIC executed a non-discretionary, unsolicited trade in a client account, at the sole direction of the account owner, for the purpose of tax management.

F2 · price: The reported price represents a weighted average sale price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares sold at each separate price.

F3 · ownership.nature: 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.

F4 · ownership.nature: 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.

SEC source: 0001193125-25-269421 · ownership.xml · nonDerivative · entry 2

GLOBAL VALUE INVESTMENT CORP. · CIK 0001569866 · 10% owner

GVP 2021-A, L.P. · CIK 0001955705 · GVIC-Controlled Entity

GVP 2021-A, LLC · CIK 0001955706 · GVIC-Controlled Entity

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

GEYGAN JAMES · CIK 0001734726 · Director and Officer of GVIC

Wilke Stacy · CIK 0001865363 · Officer of GVIC

Geygan Kathleen · CIK 0001865425 · Director of GVIC

Rice Shawn G · CIK 0002007274 · Director of GVIC

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes.

Disclosed balance after: 1,966,921

F4 · price: As of November 4, 2025, certain separately managed accounts terminated their relationship with, and are no longer advised by, GVIC. The positions held in such accounts are therefore no longer included herein.

F2 · ownership.nature: In addition to Global Value Investment Corporation, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

F3 · ownership.nature: In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.

SEC source: 0001193125-25-269421 · ownership.xml · nonDerivative · entry 1

GLOBAL VALUE INVESTMENT CORP. · CIK 0001569866 · 10% owner

GVP 2021-A, L.P. · CIK 0001955705 · GVIC-Controlled Entity

GVP 2021-A, LLC · CIK 0001955706 · GVIC-Controlled Entity

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

GEYGAN JAMES · CIK 0001734726 · Director and Officer of GVIC

Wilke Stacy · CIK 0001865363 · Officer of GVIC

Geygan Kathleen · CIK 0001865425 · Director of GVIC

Rice Shawn G · CIK 0002007274 · Director of GVIC

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes.

Disclosed balance after: 1,970,611

F1 · price: 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.

F2 · ownership.nature: In addition to Global Value Investment Corporation, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

F3 · ownership.nature: In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.

SEC source: 0001193125-25-269423 · ownership.xml · nonDerivative · entry 2

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Global Value Investment Corporation

Disclosed balance after: 1,788,093

F4 · price: As of November 4, 2025, certain separately managed accounts terminated their relationship with, and are no longer advised by, GVIC. The positions held in such accounts are therefore no longer included herein.

F2 · ownership.nature: 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.

F3 · ownership.nature: 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.

SEC source: 0001193125-25-269423 · ownership.xml · nonDerivative · entry 1

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Global Value Investment Corporation

Disclosed balance after: 1,791,783

F1 · price: 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.

F2 · ownership.nature: 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.

F3 · ownership.nature: 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.

SEC source: 0001193125-25-253601 · ownership.xml · nonDerivative · entry 2

GLOBAL VALUE INVESTMENT CORP. · CIK 0001569866 · 10% owner

GVP 2021-A, L.P. · CIK 0001955705 · GVIC-Controlled Entity

GVP 2021-A, LLC · CIK 0001955706 · GVIC-Controlled Entity

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

GEYGAN JAMES · CIK 0001734726 · Director and Officer of GVIC

Wilke Stacy · CIK 0001865363 · Officer of GVIC

Geygan Kathleen · CIK 0001865425 · Director of GVIC

Rice Shawn G · CIK 0002007274 · Director of GVIC

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes.

Disclosed balance after: 1,961,676

F4 · price: As of October 24, 2025, certain separately managed accounts terminated their relationship with, and are no longer advised by, GVIC. The positions held in such accounts are therefore no longer included herein.

F2 · ownership.nature: In addition to Global Value Investment Corporation, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

F3 · ownership.nature: In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.

SEC source: 0001193125-25-253601 · ownership.xml · nonDerivative · entry 1

GLOBAL VALUE INVESTMENT CORP. · CIK 0001569866 · 10% owner

GVP 2021-A, L.P. · CIK 0001955705 · GVIC-Controlled Entity

GVP 2021-A, LLC · CIK 0001955706 · GVIC-Controlled Entity

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

GEYGAN JAMES · CIK 0001734726 · Director and Officer of GVIC

Wilke Stacy · CIK 0001865363 · Officer of GVIC

Geygan Kathleen · CIK 0001865425 · Director of GVIC

Rice Shawn G · CIK 0002007274 · Director of GVIC

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · See footnotes.

Disclosed balance after: 1,963,821

F1 · price: 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.

F2 · ownership.nature: In addition to Global Value Investment Corporation, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

F3 · ownership.nature: In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.

SEC source: 0001193125-25-253600 · ownership.xml · nonDerivative · entry 2

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Global Value Investment Corporation

Disclosed balance after: 1,782,848

F4 · price: As of October 24, 2025, certain separately managed accounts terminated their relationship with, and are no longer advised by, GVIC. The positions held in such accounts are therefore no longer included herein.

F2 · ownership.nature: 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.

F3 · ownership.nature: 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.

SEC source: 0001193125-25-253600 · ownership.xml · nonDerivative · entry 1

GEYGAN JEFFREY RICHART · CIK 0001733547 · Director · Interim CEO · 10% owner

10b5-1 filing: No plan indicated

Ownership: Indirect · By Global Value Investment Corporation

Disclosed balance after: 1,784,993

F1 · price: 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.

F2 · ownership.nature: 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.

F3 · ownership.nature: 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.