SPAR Group, Inc. — Director's Dealing 2024

Apr 10, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPAR Group, Inc. (SGRP)
CIK: 0001004989
Period of Report: 2024-03-10

Reporting Person: Calisto Pato Antonio (Chief Financial Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-03-10	Common Stock, $01 par value	M	117188	—	Acquired	117188	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-10	Restricted Stock Units, Based on Common Stock $.01 par value	$0	M	117188	Disposed		Common Stock, $.01 par value (117188)	Direct

Footnotes

F1: On March 10, 2023, the Reporting Person received an inducement award approved by SPAR Group, Inc.'s (the Issuer) Board of Directors for Restricted Stock Units (RSUs) for $150,000 of shares of SGRP's Common Stock representing 117,188 shares of the Issuer's Common Stock based on the market price of $1.28 per share on March 10, 2023 (the RSU issuance date). Subject to certain conditions (including the Reporting Person's continued employment by the Issuer at such time), the RSU's are scheduled on March 10, 2024, to automatically vest and convert and become payable either (at the option of the Issuer) in cash or Common Stock issued directly from the Issuer, but no exercise price or other payment for such shares is required (other than applicable tax withholdings).

F2: On March 10, 2024, the RSUs automatically vested and converted and became payable either, at the option of SPAR Group, Inc. (the Issuer), in cash or Common Stock issued directly from the Issuer. On April 8, 2024, the Issuer elected to issue Common Stock in a letter to the Reporting Person, giving rise to the Reporting Person's right to receive such Common Stock but no exercise price or other payment for such shares was required (other than applicable tax withholdings). The Reporting Person elected not to satisfy his tax withholding obligations by using a portion of the 117,188 shares, so all shares of the Issuer's Common Stock were issued to the Reporting Person.

F3: Not applicable.