secwatch.observer — SEC 8-K summary
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Issuer:     SPARTA COMMERCIAL SERVICES, INC. (SRCO)
CIK:        0000318299
Form:       8-K
Filed at:   2024-02-23T23:59:59+00:00
Accession:  0001493152-24-007721
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sparta Commercial Services grants 2.69M stock options to CEO, VP, directors, employees
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- Grants five-year options for 2M shares to CEO Anthony Havens and VP Sandra Ahman at $0.14, vesting over 3 years.
- Grants 200,000 options each to two independent directors at same terms for past board service.
- Issues 290,000 non-qualified stock options to employees and consultants at $0.14, same vesting and term.
- Exercise price $0.14 is 110% of 30-day average closing price (min 100 shares traded per day).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318299/000149315224007721/0001493152-24-007721-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318299/000149315224007721/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-007721

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