{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-23-032024","form_type":"8-K","ticker":"SGRP","cik":"0001004989","company_name":"SPAR Group, Inc.","filed_at":"2023-11-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.802921+00:00","generated_at":"2026-06-08T03:07:16.333437+00:00","sec_items":["2.02","3.01","5.02","5.07","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"SPAR Group Q3 rev $67.3M (-3.6%), net income $259k; Nasdaq warns on bid price <$1","bullets":["Q3 net revenue $67.3M (-3.6% YoY); gross profit $13.4M (19.9% margin vs 18.4% prior year).","Net income attributable to SPAR Group $259k ($0.01 EPS) vs loss of $32k in prior year; non-GAAP net income $570k.","Core merchandising business grew: US +27%, Canada +23%, Mexico +28%, Brazil +10%; APAC and EMEA declined.","Received Nasdaq deficiency letter on Nov 10; bid price below $1 for 30 consecutive days; compliance deadline May 8, 2024.","Robert G. Brown departed board; Peter W. Brown reappointed; annual meeting results ratified all proposals."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-23-032024","json":"https://secwatch.observer/filing/0001437749-23-032024.json","markdown":"https://secwatch.observer/filing/0001437749-23-032024.md","text":"https://secwatch.observer/filing/0001437749-23-032024.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/sgrp20231113c_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T03:07:16.333437+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"673063736c70cc2842fa901d3b00a467d29f7ebd","claim":"SPAR Group, Inc. reported third quarter ended September 30, 2023 results: revenue $67.3 million, net income $259 thousand, EPS $0.01 per share.","evidence_excerpt":"remain committed to this work and unlocking the potential of this great company for years to come,” concluded Matacunas. Third Quarter 2023 Financial Results Net revenues were $67.3 million, comprised of $53.8 million from Americas (79.9%), $7.9 million from EMEA (11.7%), and $5.7 million from APAC (8.4%). Total net revenue decreased by 3.6%, down 4.5% on a constant","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter ended September 30, 2023"},{"label":"Revenue","value":"$67.3 million"},{"label":"Net income","value":"$259 thousand"},{"label":"EPS","value":"$0.01 per share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"244622fdba8cc823dd0d40e3b9fccd2f9b6feeff","claim":"SPAR Group, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).","evidence_excerpt":"November 10, 2023 (the \" Nasdaq Bid Price Deficiency Letter \"), stating that SGRP has failed to maintain a minimum closing bid price of $1.00 per share for its shares of its Common Stock for the prior 30 consecutive business days preceding its notice (i.e., September 29, 2023, to November 9, 2023) as required by Nasdaq Listing Rule 5550(a)(2) (the \" Bid Price Rule \"). The Nasdaq Bid Price Deficiency Letter provides that SGRP has until May 8, 2024, as a grace period to regain compliance with the Bid Price Rule by maintaining a closing bid price of $1.00 per share for a minimum of ten consecutiv","evidence_source":"SEC 8-K Item 3.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.98,"family_label":"Listing & Compliance Notices","details":[{"label":"Exchange","value":"nasdaq"},{"label":"Notice","value":"deficiency notice"},{"label":"Deficiency","value":"minimum bid price"},{"label":"Rules","value":"5550(a)(2)"}],"fact_type":"exchange_compliance_notice"},{"claim_id":"140328a665","claim":"Peter W. Brown was appointed as Director at SPAR Group, Inc..","evidence_excerpt":"the Board of Directors of SGRP (the \"Board\") reappointed Mr. Peter W. Brown to the Board","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"reappointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"a783b11b6b","claim":"Robert G. Brown resigned as Director at SPAR Group, Inc..","evidence_excerpt":"Mr. Robert G. Brown was not reelected and ceased being a director on the Board pursuant to his non-candidacy, his resignation and retirement letter, and applicable law.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"2620d6a76fb769e300d2974394cbf0c70a1bb1e1","claim":"SPAR Group, Inc. shareholders approved Approve compensation of Named Executive Officers at the 2023-11-09 meeting.","evidence_excerpt":"For A g ainst Abstain 8,092,425 33,458 15,548","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-11-09"}],"fact_type":"shareholder_vote"},{"claim_id":"27ff71f63a580ed181bec91d7dbdfa5c5fdb03a6","claim":"SPAR Group, Inc. shareholders approved Reelect two directors at the 2023-11-09 meeting.","evidence_excerpt":"For A g ainst Abstain William H. Bartels 7,970,591 161,660 9,180","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"director election"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-11-09"}],"fact_type":"shareholder_vote"},{"claim_id":"37f245ba8ab437de704cd26d1558c05835f93b6d","claim":"SPAR Group, Inc. shareholders approved Ratify appointment of BDO USA, LLP as independent registered accounting firm at the 2023-11-09 meeting.","evidence_excerpt":"For A g ainst Abstain 14,320,123 13,787 5,080","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"auditor ratification"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-11-09"}],"fact_type":"shareholder_vote"},{"claim_id":"9225a33c99da01da42ceeba8ff734c5cab516bf1","claim":"SPAR Group, Inc. shareholders approved Reelect three directors at the 2023-11-09 meeting.","evidence_excerpt":"For A g ainst Abstain John Bode 7,832,324 295,635 13,472","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"director election"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-11-09"}],"fact_type":"shareholder_vote"},{"claim_id":"df8258200c5bafbdf1c09a663e265b88d2f6d321","claim":"SPAR Group, Inc. shareholders approved Select frequency of advisory vote on executive compensation at the 2023-11-09 meeting.","evidence_excerpt":"\" One (1) Year \" \" Two (2) Years \" \" Three (3) Years \" Abstain 8,087,667 2,073 50,160 1,531","evidence_source":"SEC 8-K Item 5.07","evidence_url":"https://www.sec.gov/Archives/edgar/data/1004989/000143774923032024/0001437749-23-032024-index.htm","confidence":0.9,"family_label":"Shareholder Votes","details":[{"label":"Proposal","value":"say on pay frequency"},{"label":"Outcome","value":"passed"},{"label":"Meeting","value":"2023-11-09"}],"fact_type":"shareholder_vote"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}