H. Bartels - 30 May 2022 Form 4 Insider Report for SPAR Group, Inc. (SGRP)

Role: Director, 10%+ Owner
Signature: /s/ William H. Bartels
Issuer symbol: SGRP
Transactions as of: 30 May 2022
Transactions value $: $0
Form type: 4
Filing time: 03 Feb 2023, 05:43:59 UTC
Previous filing: 03 Feb 2023
Next filing: 03 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SGRP	Common Stock, $.01 par value	Options Exercise		+25.7K	+0.52%		4.95M	30 May 2022	Direct	F1
transaction	SGRP	Common Stock, $.01 par value	Options Exercise		+75K	+100%		150K	30 May 2022	By SPAR Administrative Services, Inc. (SAS).	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	Series B Preferred Stock, $.01 par value	Options Exercise	$0	-17.1K	-3.78%	$0.00	436K	30 May 2022	Series B Preferred Stock, $.01 par value	17.1K		Direct	F1, F4, F5, F6
transaction	SGRP	Series B Preferred Stock, $.01 par value	Options Exercise	$0	-50K	-100%	$0.00^*	0	30 May 2022	Series B Preferred Stock, $.01 par value	50K		By SPAR Administrative Services, Inc. (SAS).	F3, F4, F5, F6
transaction	SGRP	Series B Preferred Stock, $.01 par value	Options Exercise	$0	-34.4K	-7.89%	$0.00	401K	30 May 2022	Series B Preferred Stock, $.01 par value	34.4K		Direct	F4, 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 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	75,000 shares of Common Stock held by SPAR Administrative Services, Inc. (SAS) are beneficially owned by William H. Bartels. See Footnote 3.
F3	William H. Bartels is President and a 39% shareholder of SPAR Administrative Services, Inc. (SAS).
F4	Series B Preferred Stock are automatically convertible into the Common Stock on a 1 for 1.5 basis upon vesting.
F5	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.
F6	Not applicable.
F7	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.