Robert G/ Brown - May 30, 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: May 30, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/7/2023, 03:22 PM
Previous filing: Feb 7, 2023
Next filing: Jun 9, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SGRP	Common Stock, $.01 par value	Options Exercise		+77.2K	+2.77%		2.87M	May 30, 2022	Direct	F1
transaction	SGRP	Common Stock, $.01 par value	Options Exercise		+821K	+182.34%		1.27M	May 30, 2022	By SPAR Business Services, Inc. (SBS).	F1, F2, F3
transaction	SGRP	Common Stock, $.01 par value	Options Exercise		+51.6K	+1.8%		2.92M	May 30, 2022	Direct	F1
holding	SGRP	Common Stock, $.01 par value						3M	May 30, 2022	By Innovative Global Technologies LLC.	F4, F5

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	Options Exercise	$0	-51.5K	-9.41%	$0.00	496K	May 30, 2022	Series B Preferred Stock, $.01 par value	51.5K		Direct	F1, F6, F7, F8
transaction	SGRP	Series B Preferred Stock, $.01 par value	Options Exercise	$0	-547K	-100%	$0.00^*	0	May 30, 2022	Series B Preferred Stock, $.01 par value	547K		By SPAR Business Services, Inc. (SBS).	F3, F6, F7, F8
transaction	SGRP	Series B Preferred Stock, $.01 par value	Options Exercise	$0	+34.4K	+6.94%	$0.00	530K	May 30, 2022	Series B Preferred Stock, $.01 par value	34.4K		Direct	F6, F7, F8, F9
transaction	SGRP	Series B Preferred Stock, $.01 par value	Options Exercise	$0	-34.4K	-6.49%	$0.00	496K	May 30, 2022	Series B Preferred Stock, $.01 par value	34.4K		Direct	F6, F7, F8, F10

* 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 in 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	820,538 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 the 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	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.
F8	Not applicable.
F9	Transfer of Series B Preferred Stock from William H. Bartels to Robert G. Brown in accordance with the Change in 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.
F10	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.