4//SEC Filing
BELZER KORI 4
Accession 0001437749-24-019542
CIK 0001004989other
Filed
Jun 6, 8:00 PM ET
Accepted
Jun 7, 8:40 AM ET
Size
9.8 KB
Accession
0001437749-24-019542
Insider Transaction Report
Form 4
SPAR Group, Inc.SGRP
BELZER KORI
CHIEF OPERATIONS OFFICER
Transactions
- Exercise/Conversion
Common Stock, $.01 par value
2023-08-12+6,021→ 12,694 total - Conversion
Restricted Stock Units, Based on Common Stock $.01 Par Value
2023-08-12−8,287→ 8,287 totalExercise: $0.00From: 2023-08-12→ Common Stock, $.01 par value (8,287 underlying)
Footnotes (7)
- [F1]On August 12, 2021, the Reporting Person received an award for Restricted Stock Units (RSUs) for $45,000 of shares of SGRP's Common Stock having a value of its market price of $1.81 per share on the day awarded, which equals 24,862 shares of SGRP's Common Stock (the "2021 RSUs"). The 2021 RSUs are scheduled to vest and will be payable in cash or Common Stock (at the option of the Issuer) over a three (3) year period following the date of grant annually in three (3) annual installments of 8,287 each starting on the first anniversary of the 2021 RSU grant date, subject to certain conditions, but no exercise price or other payment for such shares is required.
- [F2]Not applicable.
- [F3]On August 12, 2023: having satisfied the applicable conditions (including the Reporting Person's continued employment by the Issuer at such time), 8,287 of the 2021 RSUs automatically vested and automatically converted and became 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 was required (other than tax withholdings); and the Issuer elected in a letter to issue Common Stock in satisfaction of the vesting of those 2021 RSUs, giving rise to the Reporting Person's right to receive such Common Stock. Although the Reporting Person was entitled to receive 8,287 shares of the Issuer's Common Stock upon such vesting, the Reporting Person elected to satisfy her tax withholding obligations by using a portion of those shares, and accordingly only 6,021 shares of the Issuer's Common Stock were issued to the Reporting Person under those vested 2021 RSUs.
- [F4]There was no conversion price to be paid.
- [F5]The 2021 RSUs were issued based on a value of $1.18 per share. See Footnote 1 above.
- [F6]On August 12, 2023, 8,287 of the 2021 RSUs remain unvested. The remaining 8,287 2021 RSU shares will vest on the third anniversary of the 2021 RSU grant date, subject to certain conditions. See Footnote 1 above.
- [F7]This "Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)" applies only to the remaining unvested 2021 RSU shares. It does not include any shares of the Issuer's Common Stock that the Reporting Person may acquire through her exercise of her outstanding options, which have been previously reported.
Documents
Issuer
SPAR Group, Inc.
CIK 0001004989
Entity typeother
Related Parties
1- filerCIK 0001282874
Filing Metadata
- Form type
- 4
- Filed
- Jun 6, 8:00 PM ET
- Accepted
- Jun 7, 8:40 AM ET
- Size
- 9.8 KB