---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-22-046837"
form_type: "8-K"
ticker: "RAVE"
cik: "0000718332"
company_name: "RAVE RESTAURANT GROUP, INC."
filed_at: "2022-12-23T23:59:59+00:00"
generated_at: "2026-06-20T23:43:16.539261+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Rave Restaurant Group repurchases 2.25M shares from Hallmark Financial for $3.6M

## Summary
- Repurchased 2,246,086 shares at $1.60 per share, aggregate purchase price $3,593,738.
- Price per share equaled average closing price of RAVE common stock over preceding 15 trading days.
- Transaction approved by Audit Committee (all independent directors); Chairman Mark E. Schwarz recused due to his role at Hallmark.
- Shares were held by wholly owned subsidiaries of Hallmark: American Hallmark Insurance, Hallmark Insurance, and Hallmark Specialty Insurance.

## SEC filing metadata
- accession: 0001140361-22-046837
- form_type: 8-K
- ticker: RAVE
- cik: 0000718332
- company_name: RAVE RESTAURANT GROUP, INC.
- filed_at: 2022-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/718332/000114036122046837/0001140361-22-046837-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/718332/000114036122046837/brhc10045894_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-22-046837
- JSON: https://secwatch.observer/filing/0001140361-22-046837.json
- Plain text: https://secwatch.observer/filing/0001140361-22-046837.txt

## Key facts
- Material Agreements
  RAVE RESTAURANT GROUP, INC. entered into Stock Purchase Agreement with Hallmark Financial Services, Inc. valued at aggregate purchase price of $3,593,738 (effective 2022-12-21).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Hallmark Financial Services, Inc.
  - Value: aggregate purchase price of $3,593,738
  - Effective: 2022-12-21
  source text: On December 21, 2022, Rave Restaurant Group, Inc. (the “Company”) entered into a Stock Purchase Agreement with Hallmark Financial Services, Inc. (“Hallmark”) pursuant to which the Company purchased from certain direct or indirect subsidiaries of Hallmark an aggregate of 2,246,086 shares of the Company’s common stock at a price of $1.60 per share, resulting in an aggregate purchase price of $3,593,738.
  evidence_url: https://www.sec.gov/Archives/edgar/data/718332/000114036122046837/0001140361-22-046837-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.