SPAR Group, Inc. — Director's Dealing 2024

Mar 6, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPAR Group, Inc. (SGRP)
CIK: 0001004989
Period of Report: 2023-10-04

Reporting Person: BROWN ROBERT G/ (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-10-04	Common Stock, $.01 par value	M	284130	—	Acquired	3245126	Direct
2023-11-10	Common Stock, $.01 par value	M	243537	—	Acquired	3488663	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-10-04	Series B Preferred Stock, $.01 par value	$	M	189420	Disposed		Series B Preferred Stock, $.01 par value (189420)	Direct
2023-11-10	Series B Preferred Stock, $.01 par value	$	M	162358	Disposed		Series B Preferred Stock, $.01 par value (162358)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.01 par value	3000000	Indirect
Common Stock, $.01 par value	1220538	Indirect

Footnotes

F1: Acquisition of Common Stock from SPAR Group, Inc. (the "Issuer"), as a result of the vesting and conversion of the convertible preferred shares received from the Issuer pursuant to Change of Control, Voting and Restricted Stock Agreement, by and among the Issuer, Robert G. Brown, William H. Bartels and others, as reported in the Issuer's Current Report on Form 8-K filed January 28, 2022.

F2: Includes any shares in any defined benefit plan paying Robert G. Brown a pension.

F3: Robert G. Brown is a Manager of Innovative Global Technologies LLC.

F4: Robert G. Brown is the controlling officer/director and a significant stockholder of SPAR Business Services, Inc. (SBS).

F5: Series B Preferred Stock are automatically convertible into the Common Stock on a 1 for 1.5 basis upon vesting.

F6: Vests according to schedule in Change of Control, Voting and Restricted Stock Agreement, by and among SPAR Group, Inc., Robert G. Brown, William H. Bartels and others, as reported in SPAR Group, Inc.'s Current Report on Form 8-K filed January 28, 2022.

F7: Not applicable.

F8: Acquisition of Series B Preferred Stock pursuant to Change of Control, Voting and Restricted Stock Agreement, by and among SPAR Group, Inc., Robert G. Brown, William H. Bartels and others, as reported in SPAR Group, Inc.'s Current Report on Form 8-K filed January 28, 2022.