Robert G/ Brown - Jan 28, 2022 Form 4 Insider Report for SPAR Group, Inc. (SGRP)

Role
Director, 10%+ Owner
Signature
/s/ Robert G. Brown
Stock symbol
SGRP
Transactions as of
Jan 28, 2022
Transactions value $
$0
Form type
4
Date filed
2/7/2023, 03:17 PM
Previous filing
Dec 13, 2021
Next filing
Feb 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SGRP Common Stock, $.01 par value Options Exercise +450K 450K Jan 28, 2022 By SPAR Business Services, Inc. (SBS). F1, F2, F3
holding SGRP Common Stock, $.01 par value 3M Jan 28, 2022 By Innovative Global Technologies LLC. F4, F5
holding SGRP Common Stock, $.01 par value 2.79M Jan 28, 2022 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SGRP Series B Preferred Stock, $.01 par value Award $0 +600K $0.00 600K Jan 28, 2022 Series B Preferred Stock, $.01 par value 600K Direct F6, F7, F8, F9
transaction SGRP Series B Preferred Stock, $.01 par value Award $0 +847K $0.00 847K Jan 28, 2022 Series B Preferred Stock, $.01 par value 847K By SPAR Business Services, Inc. (SBS). F3, F6, F7, F8, F9
transaction SGRP Series B Preferred Stock, $.01 par value Options Exercise $0 -300K -35.42% $0.00 547K Jan 28, 2022 Series B Preferred Stock, $.01 par value 300K By SPAR Business Services, Inc. (SBS). F3, F6, F8, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
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 450,000 shares of Common Stock held by SPAR Business Services, Inc. (SBS) are beneficially owned by Robert G. Brown. See Footnote 3.
F3 Robert G. Brown is a controlling officer/director and a significant stockholder of SPAR Business Services, Inc. (SBS).
F4 3,000,000 shares of Common Stock held by Innovative Global Technologies LLC are beneficially owned by Robert G. Brown. See Footnote 5.
F5 Robert G. Brown is a Manager of Innovative Global Technologies LLC.
F6 Series B Preferred Stock are automatically convertible into the Common Stock on a 1 for 1.5 basis upon vesting.
F7 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.
F8 Vests according to schedule in Change in 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.
F9 Not applicable.