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OMB APPROVAL
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OMB Number 3235-0362
Expires: January 31, 2005
Estimated average burden
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 5
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check box if no longer subject to
Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
[ ] Form 3 Holdings Reported
[X] Form 4 Transactions Reported
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1. Name and Address of Reporting Person*
Brown Robert G.
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(Last) (First) (Middle)
c/o SPAR Group, Inc.
580 White Plains Road
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(Street)
Tarrytown New York 10591
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
SPAR Group, Inc. ("SGRP")
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
December, 2002
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[X] Director [X] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
Chairman, Chief Executive Officer and President
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7. Individual or Joint/Group Filing
(Check applicable line)
[X] Form filed by one Reporting Person
[ ] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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5. Amount of 6. Owner-
2A. 4. Securities Acquired (A) or Securities ship 7. Nature
2. Trans- Deemed 3. Trans- Disposed of (D) Beneficially Form: of
action Execution action (Instr. 3, 4 and 5) Owned at End Direct Indirect
Date Date, if Code -------------------------- of Issuer's (D) or Benefi-
1. Title (Month/ any Month/ (Instr.8) (A) Fiscal Indirect cial
of Security Day/ Day/ or Year (Instr. (I) Ownership
(Instr. 3) Year) Year) Amount (D) Price 3 and 4) (Instr.4) (Instr. 4)
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Common Stock,
$.01 par value 11/15/02 P4 150 A $2.59 I (1)
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Common Stock,
$.01 par value 11/15/02 P4 4,500 A $2.60 I (1)
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Common Stock,
$.01 par value 11/18/02 P4 4,650 A $2.60 I (1)
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Common Stock,
$.01 par value 2,102,250(2) I (1)(3)(4)
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Common Stock,
$.01 par value 6,219,282(2) D
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*If the form is filed by more than one reporting person see instruction 4(b)(v).
(Over)
SEC 2270 (3-99)
FORM 5 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- Securities Date Securities Price Bene- ity: In-
cise 3. 3A. Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- Deemed 4. or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Execution Trans- of (D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date Date, if action (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ any Code 4 and 5) Date Expira- Number ity Year (I) ship
Security Secur- Day/ (Month/Day (Instr. ----------- Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Year) 8) (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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Common
Option to Stock,
buy Common $.01 par
Stock $1.30 (4) 08/02/11 value 95,747(5) D
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Common
Option to Stock,
buy Common $.01 par
Stock $1.30 (6) 08/02/11 value 191,493 D
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Common
Option to Stock,
buy Common $.01 par
Stock $1.43 (7) 08/02/11 value 191,493 D
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Common
Option to Stock,
buy Common $.01 par
Stock value 478,733 D
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Explanation of Responses:
(1) Owned as Trustee under Defined Benefit Pension Trust of SP/R, Inc. (f/k/a
SPAR/Burgoyne, Inc.), under which the Reporting Person is the sole
beneficiary.
(2) Reflects the transfer of an aggregate total of 52,700 shares during the
period of November 19, 2002 through December 9, 2002 from the Reporting
Person's direct ownership account to Defined Benefit Pension Trust of SP/R,
Inc. (f/k/a SPAR/Burgoyne, Inc.), for the sole benefit of the Reporting
Person.
(3) Owned as Trustee under Grantor Trust I of Robert G. Brown Dated March 22,
1999, for the benefit of Reporting Person's children.
(4) Owned as Trustee under Grantor Trust II of Robert G. Brown Dated March 22,
1999, for the benefit of Reporting Person's children.
(5) Vests as to 95,747 shares on August 2, 2003.
(6) 382,986 option shares were granted on August 2, 2001; 287,239.5 shares have
vested and been exercised;
(7) All Shares become immediately vested and exercisable when the fair market
value of shares is $10.00.
(8) Shares are eligible to vest in five equal vesting periods through each of
December 31, 2001, 2002, 2003, 2004 and 2005. For each period, Twenty
percent of the options may become vested and exercisable if the fair market
value of the shares equals at least $10.00 at some time such during period.
On January 1, 2006 through August 2, 2006, all options which did not vest
during the earlier vesting periods will become immediately exercisable if
the fair market value of the shares, at any time during this seven month
period, equals no less than $10.00.
/s/ Robert G. Brown 2/13/03
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**Signature of Reporting Person Date
* 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 provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB number.
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