SGRP insider Linnane acquires 173,000 restricted shares at $1.02

Rhea-AI Filing Summary

SPAR Group (SGRP) reported an insider share purchase on a Form 4. President and Interim CEO William Linnane bought 173,000 restricted shares of the company’s treasury common stock at $1.02 per share on October 3, 2025 (transaction code P). The filing notes a $250,000 one-time cash award to the executive with the understanding that the after-tax proceeds would be used to purchase company shares. Following the transaction, Linnane beneficially owned 190,909 shares directly.

Insights

Executive Compensation & Governance Analyst

Insider received a one-time cash award and bought restricted treasury shares; alignment rises, costs and terms matter.

On 10/03/2025, the President and Interim CEO purchased 173,000 restricted shares of the company’s treasury stock from the issuer at $1.02 per share, reported as code "P". The filing states this followed a one-time cash award of $250,000 intended to fund, after tax, the share purchase. Reported direct beneficial ownership after the transaction is 190,909 shares.

This mechanism converts a cash bonus into equity exposure, increasing insider alignment with common shareholders. Because the shares were purchased from treasury, the company received cash while the officer’s stake rose. The filing does not detail restriction terms or any vesting schedule, so lock-up or forfeiture conditions are not specified here.

Key items to watch: any subsequent filings that outline the restriction/vesting terms, and whether additional awards or purchases occur under the related employment agreement. The report date is 11/04/2025 with the transaction on 10/03/2025; monitoring future Forms 4 around quarter transitions could clarify ongoing equity accumulation.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Linnane William

(Last) (First) (Middle)

C/O SPAR GROUP, INC.

110 EAST BOULEVARD, SUITE 1600

(Street)

CHARLOTTE NC 28203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SPAR Group, Inc. [ SGRP ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
10/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.01 par value	10/03/2025		P		173,000(1)	A	$1.02	190,909	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. On October 3, 2025, pursuant to the employment agreement between the Reporting Person and the Company entered into in connection with the Reporting Person's promotion to the President and Interim Chief Executive Officer of the Company, the Reporting Person received a one-time cash award of $250,000 with the understanding that the after-tax proceeds of the one-time cash award will be used to buy shares of treasury common stock of the Company. On October 3, 2025, the Reporting Person purchased 173,000 restricted shares of treasury common stock from the Company at the ten-current fair market value.

	/s/ William Linnane	11/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.

FAQ

What did SPAR Group (SGRP) disclose in this Form 4?

An insider purchase by President and Interim CEO William Linnane of 173,000 restricted shares at $1.02 on October 3, 2025.

How many SPAR Group shares does the insider own after the transaction?

Following the transaction, William Linnane beneficially owned 190,909 shares directly.

What funded the insider’s SPAR Group share purchase?

A $250,000 one-time cash award with the understanding that after-tax proceeds would be used to buy company shares.

Were the SPAR Group shares bought on the open market?

The filing states the purchase was of restricted shares of treasury common stock from the company.

What does transaction code P indicate for SGRP?

Code P indicates a purchase of the issuer’s equity securities.

What security was reported in the SGRP Form 4?

Common Stock, $.01 par value of SPAR Group, Inc.