On June 9, 2022, Elisabeth Charles notified the Board of Directors of Rocky Mountain Chocolate Factory, Inc. of her intent to not stand for reelection at the Company's 2022 Annual Meeting of Stockholders (the Annual Meeting") and to retire effective as of the conclusion of the Annual Meeting. Ms. Charles decision to retire was for personal reasons and was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. In connection with her planned retirement, Ms. Charles stepped down as Chair of the Board, effective immediately, and the Board unanimously elected Jeffrey Geygan to succeed Ms. Charles as Chair.