---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-000696"
form_type: "8-K"
ticker: "SRCO"
cik: "0000318299"
company_name: "SPARTA COMMERCIAL SERVICES, INC."
filed_at: "2022-01-07T23:59:59+00:00"
generated_at: "2026-06-27T20:00:13.730747+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-22-000696
- form_type: 8-K
- ticker: SRCO
- cik: 0000318299
- company_name: SPARTA COMMERCIAL SERVICES, INC.
- filed_at: 2022-01-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318299/000149315222000696/0001493152-22-000696-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318299/000149315222000696/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-000696
- JSON: https://secwatch.observer/filing/0001493152-22-000696.json
- Plain text: https://secwatch.observer/filing/0001493152-22-000696.txt

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