Sparta Commercial converts $262k deferred salary to options; grants additional options to executives and directors

SPARTA COMMERCIAL SERVICES, INC.

CEO Havens converts $137,466 deferred salary into options for 1,718,322 shares at $0.08.
VP Ahman converts $125,000 deferred salary into options for 1,562,500 shares at $0.08.
Independent directors each granted 187,500 options at $0.08, vesting over 3 years.
CEO and VP granted aggregate 750,000 options at $0.08, vesting over 3 years.
All options have 5-year term; exercise price is 111% of 30-day volume-weighted average closing price.

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