SPAR Group removes two board members for cause; board cut to five

SPAR Group, Inc.

Board accepted retirements of James R. Brown, Sr. and Panos Lazaretos effective Aug 6, 2026.
Retirement letters were dated Jan 31, 2025; acceptance followed review of actions by Robert Brown.
Board found Robert Brown breached Change of Control Agreement and Apr 27, 2026 Settlement Agreement.
Directors acted against company interests, violated policies, By-laws, OTCQB and SEC rules.
Remaining directors set board size at five members per By-laws Section 3.01.

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