0001437749-24-019540.txt : 20240607 0001437749-24-019540.hdr.sgml : 20240607 20240607083328 ACCESSION NUMBER: 0001437749-24-019540 CONFORMED SUBMISSION TYPE: 4/A PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220812 FILED AS OF DATE: 20240607 DATE AS OF CHANGE: 20240607 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: BELZER KORI CENTRAL INDEX KEY: 0001282874 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 4/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-27408 FILM NUMBER: 241027472 MAIL ADDRESS: STREET 1: SPAR GROUP INC STREET 2: 580 WHITE PLAINS RD. CITY: TARRYTOWN STATE: NY ZIP: 10591 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: SPAR Group, Inc. CENTRAL INDEX KEY: 0001004989 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] ORGANIZATION NAME: 07 Trade & Services 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/A 1 rdgdoc.xml FORM 4/A X0508 4/A 2022-08-12 2022-10-11 0001004989 SPAR Group, Inc. SGRP 0001282874 BELZER KORI C/O SPAR GROUP, INC. 1910 OPDYKE COURT AUBURN HILLS MI 48326 1 Global Chief Operating Officer 0 Common Stock, $.01 par value 2022-08-12 4 M 0 5946 0 A 6673 D Restricted Stock Units, Based on Common Stock $.01 Par Value 0 2022-08-12 4 C 0 8287 0 D 2022-08-12 Common Stock, $.01 par value 8287 16575 D 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. Not applicable. There was no conversion price to be paid. The 2021 RSUs were issued based on a value of $1.25 per share. See Footnote 1 above. For purposes of clarity, this amended Form 4/A restates, in its entirety, the original Form 4, filed on October 11, 2022 to report transactions occurring on August 12, 2022. This Amendment adds Table I and the information in it, all of which is new. Other than changes in the footnotes, no change is being made to the information shown in Table II. However, this Amendment adds the definition of 2021 RSUs to Footnote 1, amends and restates Footnote 4, and adds the new Footnotes 5, 6, 7 and 8. On August 12, 2022: 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 5,946 shares of the Issuer's Common Stock were issued to the Reporting Person under those vested 2021 RSUs. On August 12, 2022, 16,575 of the 2021 RSUs remain unvested. 8,287 2021 RSU shares will vest on each of the second and third anniversaries of the 2021 RSU grant date, subject to certain conditions. See Footnote 1 above. 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. /s/ Kori G. Belzer 2024-06-07