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.