Via Renewables, Inc. — Director's Dealing 2016

Jan 20, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Spark Energy, Inc. (SPKE)
CIK: 0001606268
Period of Report: 2016-01-11

Reporting Person: Electric Holdco, LLC (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-01-11	Class B Common Stock/Spark HoldCo Units	$	J	10612500	Disposed		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, the units of Spark HoldCo, LLC (the "Spark HoldCo Units"), together with a corresponding number of shares of Class B Common Stock (the "Class B Common Stock") of Spark Energy, Inc. (the "Issuer") may be exchanged, at any time and from time to time, for Class A Common Stock of the Issuer (or cash at the Issuer or Spark HoldCo's election) 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: These securities were distributed to TxEx Energy Investments, LLC pursuant to an internal reorganization. The reporting person is a wholly owned subsidiary of TxEx Energy Investments, LLC.

F3: These securities are held by NuDevco Retail, LLC. NuDevco Retail, LLC is a wholly owned subsidiary of NuDevco Retail Holdings, LLC, the reporting person's wholly owned subsidiary. NuDevco Retail, LLC directly owns 137,500 Spark HoldCo Units and 137,500 shares of Class B Common Stock