0001437749-23-003509.txt : 20230215
0001437749-23-003509.hdr.sgml : 20230215
20230215160158
ACCESSION NUMBER: 0001437749-23-003509
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20220222
FILED AS OF DATE: 20230215
DATE AS OF CHANGE: 20230215
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Matacunas Mike R.
CENTRAL INDEX KEY: 0001580576
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-27408
FILM NUMBER: 23635333
MAIL ADDRESS:
STREET 1: 500 VOLVO PARKWAY
CITY: CHESAPEAKE
STATE: VA
ZIP: 23320
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: SPAR Group, Inc.
CENTRAL INDEX KEY: 0001004989
STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389]
IRS NUMBER: 330684451
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1910 OPDYKE COURT
CITY: AUBURN HILLS
STATE: MI
ZIP: 48326
BUSINESS PHONE: 2483647727
MAIL ADDRESS:
STREET 1: 1910 OPDYKE COURT
CITY: AUBURN HILLS
STATE: MI
ZIP: 48326
FORMER COMPANY:
FORMER CONFORMED NAME: SPAR GROUP INC
DATE OF NAME CHANGE: 19990713
FORMER COMPANY:
FORMER CONFORMED NAME: PIA MERCHANDISING SERVICES INC
DATE OF NAME CHANGE: 19951220
4
1
rdgdoc.xml
FORM 4
X0306
4
2022-02-22
0001004989
SPAR Group, Inc.
SGRP
0001580576
Matacunas Mike R.
C/O SPAR GROUP, INC.
1910 OPDYKE COURT
AUBURN HILLS
MI
48326
1
1
Chief Executive Officer
Common Stock, $.01 par value
2022-02-22
4
M
0
26315
0
A
26315
D
Restricted Stock Units, Based on Common Stock $.01 par value
0
2022-02-22
4
M
0
26315
0
D
2022-02-22
Common Stock, $.01 par value
26315
0
D
Restricted Stock Units, Based on Common Stock $.01 par value
0
2022-05-15
4
A
0
89286
0
A
2023-05-15
Common Stock, $.01 par value
89286
89286
D
Option to Buy Common Stock, $.01 par value
1.9000
2022-02-22
2031-02-22
Common Stock, $.01 par value
630000
630000
D
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.
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.
Not applicable.
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.
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.
/s/ Michael R. Matacunas
2023-02-15