SPAR Group named in Nasdaq stock delisting notice

SPAR Group, Inc. is named as issuer in Nasdaq Stock Market LLC’s notification concerning removal of its common stock from listing and registration on Nasdaq.

Rhea-AI Filing Summary

SPAR Group, Inc. is named as issuer in Nasdaq Stock Market LLC’s notification concerning removal of its common stock from listing and registration on Nasdaq. Nasdaq states that it has reasonable grounds to believe it meets the Form 25 requirements and certifies compliance with its rules for striking the class.

Filing Explained

SPAR's July 22, 2026 announcement reports a transition from Nasdaq to OTCQB; this Form 25 is Nasdaq's notification concerning removal of the common stock from Nasdaq listing and Section 12(b) registration, not an announcement of that venue transition.

Sources and calculations

• SPAR Group, Inc. Form 25-NSE (undated in supplied text)
• SPAR Group announcement: transition from Nasdaq to OTCQB (2026-07-22)

Key Terms

Section 12(b), voluntary withdrawal, registration

3 terms

Section 12(b) regulatory

"under Section 12(b) of the Securities Exchange Act of 1934"

Section 12(b) of the U.S. Securities Exchange Act requires securities listed on a national stock exchange to be registered with the U.S. Securities and Exchange Commission (SEC) and to follow regular public reporting and disclosure rules. For investors, a 12(b) listing generally means more routine financial updates, regulatory oversight and easier buying and selling—like a storefront that must display its inventory and prices, making it simpler to inspect and trade the product.

voluntary withdrawal regulatory

"governing the voluntary withdrawal of the class"

registration regulatory

"removal from listing and/or registration"

Registration is the formal filing or listing of a company, security, product, or document with a government or regulatory agency so it may be legally offered, sold, or publicly disclosed. Think of it like registering a car before you can drive it: it creates official records, requires certain disclosures, and signals that regulators have at least reviewed basic information. Investors care because registration increases transparency, enables trading or market access, and can materially affect a company’s liquidity, fundraising options, and regulatory risk.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/01/2026 - 03:32 PM Accepted by SEC EDGAR 10/01/2026 - 03:32 PM Learn about SEC filing dates

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

000-27408

Issuer:	SPAR Group, Inc.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	333 Westchester Avenue
	South Building, Suite 204
	White Plains	NEW YORK	10604
Telephone number:					+1 914 332-4100

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Common Stock

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2026-10-01	By	Aravind Menon		Hearings Advisor
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.