SPAR Group, Inc. — Director's Dealing 2024

Feb 29, 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: BARTELS WILLIAMS H (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	240870	—	Acquired	5400084	Direct
2023-11-10	Common Stock, $.01 par value	M	206463	—	Acquired	5606547	Direct
2024-01-11	Common Stock, $.01 par value	M	150000	—	Disposed	0	Indirect
2024-01-11	Common Stock, $.01 par value	M	150000	—	Acquired	5756547	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	160580	Disposed		Series B Preferred Stock, $.01 par value (160580)	Direct
2023-11-10	Series B Preferred Stock, $.01 par value	$	M	137642	Disposed		Series B Preferred Stock, $.01 par value (137642)	Direct

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

F3: 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.

F4: Not applicable.

F5: 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.

F6: William H. Bartels is President and was a 39% shareholder on October 4, 2023, and was a 100% shareholder on and after December 8, 2023 of SPAR Administrative Services, Inc. (SAS).

F7: Privately transferred in a non-market transaction from SPAR Administrative Services, Inc. (SAS) to William H. Bartels.