4//SEC Filing
Matacunas Mike R. 4
Accession 0001437749-23-003509
CIK 0001004989other
Filed
Feb 14, 7:00 PM ET
Accepted
Feb 15, 4:01 PM ET
Size
13.3 KB
Accession
0001437749-23-003509
Insider Transaction Report
Form 4
SPAR Group, Inc.SGRP
Matacunas Mike R.
DirectorChief Executive Officer
Transactions
- Exercise/Conversion
Common Stock, $.01 par value
2022-02-22+26,315→ 26,315 total - Exercise/Conversion
Restricted Stock Units, Based on Common Stock $.01 par value
2022-02-22−26,315→ 0 totalExercise: $0.00From: 2022-02-22→ Common Stock, $.01 par value (26,315 underlying) - Award
Restricted Stock Units, Based on Common Stock $.01 par value
2022-05-15+89,286→ 89,286 totalExercise: $0.00From: 2023-05-15→ Common Stock, $.01 par value (89,286 underlying)
Holdings
- 630,000
Option to Buy Common Stock, $.01 par value
Exercise: $1.90From: 2022-02-22Exp: 2031-02-22→ Common Stock, $.01 par value (630,000 underlying)
Footnotes (5)
- [F1]On February 22, 2021, the Reporting Person received an inducement award approved by SPAR Group, Inc.'s (the Issuer) Board of Directors for Restricted Stock Units (RSUs) for $50,000 of shares of SGRP's Common Stock representing 26,315 shares of the Issuer's Common Stock based on the market price of $1.90 per share on February 22, 2021 (the RSU issuance date). Subject to certain conditions (including the Reporting Person's continued employment by the Issuer at such time), the RSUs were scheduled on February 22, 2022, 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.
- [F2]On February 22, 2022, 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 September 30, 2022, 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.
- [F3]Not applicable.
- [F4]On February 22, 2021, the Reporting Person received an inducement award approved by SPAR Group, Inc.'s (the Issuer) Board of Directors for Restricted Stock Units (RSUs) for $100,000 of shares of the Issuer's Common Stock issuable on May 15 of each year he remains employed by the Issuer, commencing in 2022. On May 15, 2022, the Reporting Person automatically received from the Issuer RSUs for 89,286 shares of the Issuer's Common Stock based on the market price of $1.12 per share on May 13, 2022 (the last trading day preceding the RSU issuance date). Subject to certain conditions (including the Reporting Person's continued employment by the Issuer at such time), the RSUs are scheduled on May 15, 2023, 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.
- [F5]As previously reported in the Reporting Person's Form 3, on February 22, 2021, the Reporting Person received an inducement award approved by SPAR Group, Inc.'s (the Issuer) Board of Directors for options to purchase 630,000 shares of the Common Stock of the Issuer at an exercise price of $1.90 per share (which was the market price on February 22, 2021, the date the options were issued). Subject to certain conditions (including the Reporting Person's continued employment by the Issuer at such time), the options were scheduled on February 22, 2022, to automatically vest. On February 22, 2022, the options automatically vested and became exercisable at the option of the Reporting Person, which requires notice and payment of $1.90 per share to the Issuer to effect such exercise. The options automatically expire on February 22, 2031.
Documents
Issuer
SPAR Group, Inc.
CIK 0001004989
Entity typeother
Related Parties
1- filerCIK 0001580576
Filing Metadata
- Form type
- 4
- Filed
- Feb 14, 7:00 PM ET
- Accepted
- Feb 15, 4:01 PM ET
- Size
- 13.3 KB