August 12, 2024 · Form 4 insider transaction
BELZER KORI bought 5,421 shares of SPAR Group, Inc. at $0.00 per share, a transaction worth N/A. The trade was recorded as option exercise and disclosed on an SEC Form 4, filed 1 day after the transaction.
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.; On August 12, 2024: 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 5,421 shares of the Issuer's Common Stock were issued to the Reporting Person under those vested 2021 RSUs.; Not applicable.; There was no conversion price to be paid.; The 2021 RSUs were issued based on a value of $1.18 per share. See Footnote 1 above.; Beneficial ownership now includes an additional 1,880 SGRP Common Stock shares received by Reporting Person on April 6, 2021, transferred from her 401(k) account in a like kind rollover to her IRA account and not previously reported.