Robert G/ Brown - Nov 10, 2022 Form 4/A - Amendment Insider Report for SPAR Group, Inc. (SGRP)

Role: Director, 10%+ Owner
Signature: /s/ Robert G. Brown
Stock symbol: SGRP
Transactions as of: Nov 10, 2022
Transactions value $: $0
Form type: 4/A - Amendment
Date filed: 2/7/2023, 03:25 PM
Date Of Original Report: Dec 9, 2022
Previous filing: Sep 9, 2022
Next filing: Dec 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		+244K	+8.96%		2.96M	Nov 10, 2022	Direct	F1, F2, F3
holding	SGRP	Common Stock, $.01 par value						3M	Nov 10, 2022	By Innovative Global Technologies LLC.	F4, F5
holding	SGRP	Common Stock, $.01 par value						1.27M	Nov 10, 2022	By SPAR Business Services, Inc. (SBS).	F6

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	-162K	-32.76%	$0.00	333K	Nov 10, 2022	Series B Preferred Stock, $.01 par value	162K		Direct	F7, F8, F9, 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 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	Excludes any shares in any defined benefit plan paying Robert G. Brown a pension.
F3	The number of shares of Common Stock beneficially owned by Robert G. Brown following the reported transaction has been reduced by 18,956 shares pursuant to a discrepancy discovered during a review of Robert G. Brown's shareholdings. The review did not identify any violations of Section 16(b) of the Securities Exchange Act of 1934, as amended. To the extent this Form 4 updates the beneficial share ownership amounts reported on previously filed Form 4s, this Form 4 serves as an amendment to any such previously filed Form 4s.
F4	3,000,000 shares of Common Stock held by Innovative Global Technologies LLC are beneficially owned by Robert G. Brown. See Footnote 4.
F5	Robert G. Brown is a Manager of Innovative Global Technologies LLC.
F6	Robert G. Brown is the controlling officer/director and a significant stockholder of SPAR Business Services, Inc. (SBS).
F7	Series B Preferred Stock are automatically convertible into the Common Stock on a 1 for 1.5 basis upon vesting.
F8	Vests according to schedule in 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.
F9	Not applicable.
F10	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.