H. Bartels - May 9, 2024 Form 4 Insider Report for SPAR Group, Inc. (SGRP)

Role: Director, 10%+ Owner
Signature: /s/ William H. Bartels
Stock symbol: SGRP
Transactions as of: May 9, 2024
Transactions value $: -$1,800,000
Form type: 4
Date filed: 5/13/2024, 04:01 PM
Previous filing: Feb 29, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SGRP	Common Stock, $.01 par value	Sale	-$1.8M	-1M	-17.51%	$1.80	4.71M	May 9, 2024	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	SPAR Group, Inc. ("SGRP"), is the issuer of the shares of Common Stock subject to this Report ("SGRP Shares"). Pursuant to the terms and conditions of the Repurchase Agreement dated 04/30/24, as approved by SGRP's Board of Directors and Audit Committee on 05/03/24, between William H. Bartels and SPAR Group, Inc., William H. Bartels agreed to privately sell 1,000,000 of his SGRP Shares to SGRP, and SGRP agreed to privately purchase those shares from William H. Bartels. The purchase price is $1.80 per share, which was the closing price on the market day preceding the Agreement date (i.e. 04/29/24), as provided in that Agreement. The shares were transferred into SGRP's treasury account on 05/09/24. SGRP's repurchase was made pursuant to SGRP's 2024 Stock Repurchase Program, as approved by the Board on 03/28/24, pursuant to which SGRP may repurchase of up to 2,500,000 of its shares of Common Stock over a 1-year period in the open market and through privately negotiated transactions.
F2	The number of shares of Common Stock beneficially owned by William H. Bartels prior to the reported transaction has been reduced by 46,710 shares to correct a discrepancy discovered during a review of William H. Bartels shareholdings. The review found that such discrepancy was inadvertent and did not identify any violations of Section 16(b) of the Securities Exchange Act of 1934. 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.

Content

SPAR Group, Inc. ("SGRP"), is the issuer of the shares of Common Stock subject to this Report ("SGRP Shares"). Pursuant to the terms and conditions of the Repurchase Agreement dated 04/30/24, as approved by SGRP's Board of Directors and Audit Committee on 05/03/24, between William H. Bartels and SPAR Group, Inc., William H. Bartels agreed to privately sell 1,000,000 of his SGRP Shares to SGRP, and SGRP agreed to privately purchase those shares from William H. Bartels. The purchase price is $1.80 per share, which was the closing price on the market day preceding the Agreement date (i.e. 04/29/24), as provided in that Agreement. The shares were transferred into SGRP's treasury account on 05/09/24. SGRP's repurchase was made pursuant to SGRP's 2024 Stock Repurchase Program, as approved by the Board on 03/28/24, pursuant to which SGRP may repurchase of up to 2,500,000 of its shares of Common Stock over a 1-year period in the open market and through privately negotiated transactions.

The number of shares of Common Stock beneficially owned by William H. Bartels prior to the reported transaction has been reduced by 46,710 shares to correct a discrepancy discovered during a review of William H. Bartels shareholdings. The review found that such discrepancy was inadvertent and did not identify any violations of Section 16(b) of the Securities Exchange Act of 1934. 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.