Via Renewables, Inc. — Director's Dealing 2016

Aug 24, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Spark Energy, Inc. (SPKE)
CIK: 0001606268
Period of Report: 2016-08-23

Reporting Person: Maxwell W Keith III (Director, 10% Owner)
Reporting Person: TxEx Energy Investments, LLC (10% Owner)
Reporting Person: Retailco, LLC (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-23	Class B Common Stock/Spark HoldCo Units	$	A	2000000	Acquired		Class A Common Stock ()	Indirect

Footnotes

F1: Subject to the terms of the Second Amended and Restated Limited Liability Company Agreement of Spark HoldCo, LLC ("Spark HoldCo"), the units of Spark HoldCo (the "Spark HoldCo Units"), together with a corresponding number of shares of Class B common stock of Spark Energy, Inc. ("the Issuer") may be exchanged at any time for Class A common stock of the Issuer at an exchange ratio of one share of Class A common stock for each Spark HoldCo Unit (and corresponding share of Class B common stock).

F2: Under the Membership Interest Purchase Agreement dated May 3, 2016 between National Gas & Electric, LLC, Retailco, LLC ("Retailco"), Spark Holdco, and the Issuer, the Issuer and Spark HoldCo issued 2,000,000 shares of Class B common stock, together with a corresponding number of Spark HoldCo Units, to Retailco as transaction consideration.

F3: 10,087,242 shares are held directly by Retailco and 137,500 shares are held directly by NuDevco Retail, LLC. NuDevco Retail, LLC is a wholly owned subsidiary of NuDevco Retail Holdings, LLC, which is a wholly owned subsidiary of Electric Holdco, LLC, which is a wholly owned subsidiary of TxEx, which is wholly owned by W. Keith Maxwell III.