Robert G/ Brown - Oct 4, 2023 Form 4 Insider Report for SPAR Group, Inc. (SGRP)

Role: Director, 10%+ Owner
Signature: /s/ Robert G. Brown
Stock symbol: SGRP
Transactions as of: Oct 4, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/6/2024, 09:06 AM
Previous filing: Dec 9, 2022
Next filing: Jan 4, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SGRP	Common Stock, $.01 par value	Options Exercise		+284K	+9.6%		3.25M	Oct 4, 2023	Direct	F1, F2
transaction	SGRP	Common Stock, $.01 par value	Options Exercise		+244K	+7.5%		3.49M	Nov 10, 2023	Direct	F1, F2
holding	SGRP	Common Stock, $.01 par value						3M	Oct 4, 2023	By Innovative Global Technologies LLC.	F3
holding	SGRP	Common Stock, $.01 par value						1.22M	Oct 4, 2023	By SPAR Business Services, Inc. (SBS).	F4

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	-189K	-53.85%	$0.00	162K	Oct 4, 2023	Series B Preferred Stock, $.01 par value	189K		Direct	F5, F6, F7, F8
transaction	SGRP	Series B Preferred Stock, $.01 par value	Options Exercise	$0	-162K	-100%	$0.00^*	0	Nov 10, 2023	Series B Preferred Stock, $.01 par value	162K		Direct	F5, F6, F7

* 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	Includes any shares in any defined benefit plan paying Robert G. Brown a pension.
F3	Robert G. Brown is a Manager of Innovative Global Technologies LLC.
F4	Robert G. Brown is the controlling officer/director and a significant stockholder of SPAR Business Services, Inc. (SBS).
F5	Series B Preferred Stock are automatically convertible into the Common Stock on a 1 for 1.5 basis upon vesting.
F6	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.
F7	Not applicable.
F8	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.