secwatch.observer — SEC 8-K summary
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Issuer:     SPARTA COMMERCIAL SERVICES, INC. (SRCO)
CIK:        0000318299
Form:       8-K
Filed at:   2023-02-10T23:59:59+00:00
Accession:  0001493152-23-004302
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sparta Commercial Services grants 1.75M total stock options to executives and directors
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- CEO Anthony L Havens and VP Sandra L Ahman receive options for 1,350,000 shares aggregate at $0.18 per share.
- Each of two independent directors (Kristian Srb, Jeffrey Bean) gets options for 200,000 shares at $0.18 per share.
- All options vest in three equal tranches over three years, five-year term, 110% of 30-day VWAP.
- Options are compensation; issued under Section 4(a)(2) exemption from registration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318299/000149315223004302/0001493152-23-004302-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318299/000149315223004302/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-004302

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer