---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-001867"
form_type: "8-K"
ticker: "SGRP"
cik: "0001004989"
company_name: "SPAR Group, Inc."
filed_at: "2022-01-28T23:59:59+00:00"
generated_at: "2026-06-27T13:57:28.589416+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# SPAR Group enters Change of Control Agreement with majority stockholders, issues preferred shares, amends bylaws

## Summary
- Entered CIC Agreement with Robert Brown and William Bartels, issuing 2M Series B preferred shares and $250K cash to Brown.
- Board amended bylaws to set size at 7 directors, require 3 super independent directors, and raise stockholder amendment threshold to 75%.
- Directors James R. Brown Sr. and Panagiotis Lazaretos retired; both signed consulting agreements ($55K and $10K/month respectively).
- Company assumed ~$474K in claims related to Affinity Insurance and released mutual claims with majority stockholders.
- Certificate of Elimination filed for Series A preferred; Series B created with no voting/dividend rights, convertible 1:1.5.

## SEC filing metadata
- accession: 0001437749-22-001867
- form_type: 8-K
- ticker: SGRP
- cik: 0001004989
- company_name: SPAR Group, Inc.
- filed_at: 2022-01-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 5.03, 5.02, 3.02, 5.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1004989/000143774922001867/0001437749-22-001867-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1004989/000143774922001867/sgrp20220127_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-001867
- JSON: https://secwatch.observer/filing/0001437749-22-001867.json
- Plain text: https://secwatch.observer/filing/0001437749-22-001867.txt

## Key facts
- Executive change
  James R. Brown, Sr. retired as Director at SPAR Group, Inc..
  - Action: retired
  - Role: Director
  source text: On January 25, 2022, the Board received written notices that James R. Brown, Sr. and Panagiotis Lazaretos intend to retire from all positions held with the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004989/000143774922001867/0001437749-22-001867-index.htm
- Executive change
  Panagiotis Lazaretos retired as Director at SPAR Group, Inc..
  - Action: retired
  - Role: Director
  source text: On January 25, 2022, the Board received written notices that James R. Brown, Sr. and Panagiotis Lazaretos intend to retire from all positions held with the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1004989/000143774922001867/0001437749-22-001867-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.