---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-22-036498"
form_type: "8-K"
ticker: "SRCO"
cik: "0000318299"
company_name: "SPARTA COMMERCIAL SERVICES, INC."
filed_at: "2022-12-23T23:59:59+00:00"
generated_at: "2026-06-20T23:42:25.874569+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Sparta Commercial converts $200K insider debt to stock options; CEO, VP, Director receive 1.87M shares

## Summary
- CEO Anthony Havens converts $100K deferred salary for options to purchase 934,579 shares at $0.107 strike.
- VP Sandra Ahman converts $50K deferred salary for 467,290 options; Director Kristian Srb converts $50K debt for 467,290 options.
- Options vest immediately, have five-year term; exercise price is 110% of 30-day VWAP ($0.107).
- Issuance exempt under Section 4(a)(2) of Securities Act as private placement to insiders.

## SEC filing metadata
- accession: 0001493152-22-036498
- form_type: 8-K
- ticker: SRCO
- cik: 0000318299
- company_name: SPARTA COMMERCIAL SERVICES, INC.
- filed_at: 2022-12-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318299/000149315222036498/0001493152-22-036498-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318299/000149315222036498/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-22-036498
- JSON: https://secwatch.observer/filing/0001493152-22-036498.json
- Plain text: https://secwatch.observer/filing/0001493152-22-036498.txt

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