Antonio Calisto - Mar 10, 2024 Form 4 Insider Report for SPAR Group, Inc. (SGRP)

Role
Chief Financial Officer
Signature
/s/ Antonio Calisto Pato
Stock symbol
SGRP
Transactions as of
Mar 10, 2024
Transactions value $
$0
Form type
4
Date filed
4/10/2024, 02:53 PM
Previous filing
Apr 10, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SGRP Common Stock, $01 par value Options Exercise $0 +117K $0.00 117K Mar 10, 2024 Direct F1, F2, F3

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 Restricted Stock Units, Based on Common Stock $.01 par value Options Exercise $0 -117K -100% $0.00* 0 Mar 10, 2023 Common Stock, $.01 par value 117K $0.00 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 10, 2023, the Reporting Person received an inducement award approved by SPAR Group, Inc.'s (the Issuer) Board of Directors for Restricted Stock Units (RSUs) for $150,000 of shares of SGRP's Common Stock representing 117,188 shares of the Issuer's Common Stock based on the market price of $1.28 per share on March 10, 2023 (the RSU issuance date). Subject to certain conditions (including the Reporting Person's continued employment by the Issuer at such time), the RSU's are scheduled on March 10, 2024, to automatically vest and convert and become payable either (at the option of the Issuer) in cash or Common Stock issued directly from the Issuer, but no exercise price or other payment for such shares is required (other than applicable tax withholdings).
F2 On March 10, 2024, the RSUs automatically vested and converted and became payable either, at the option of SPAR Group, Inc. (the Issuer), in cash or Common Stock issued directly from the Issuer. On April 8, 2024, the Issuer elected to issue Common Stock in a letter to the Reporting Person, giving rise to the Reporting Person's right to receive such Common Stock but no exercise price or other payment for such shares was required (other than applicable tax withholdings). The Reporting Person elected not to satisfy his tax withholding obligations by using a portion of the 117,188 shares, so all shares of the Issuer's Common Stock were issued to the Reporting Person.
F3 Not applicable.