Sparta Commercial grants 4.56M stock options to CEO, VP, directors, employees at $0.14

SPARTA COMMERCIAL SERVICES, INC.

CEO and VP granted options for 3,600,000 shares total at $0.14, vesting in three equal tranches over three years.
Two independent directors each receive options for 350,000 shares at $0.14, vesting over three years, for past board service.
Employees granted aggregate options for 260,000 shares at $0.14, same vesting schedule.
All options have five-year term; exercise price is 110% of 30-day average closing price with minimum volume condition.
Securities issued in private placement exempt under Section 4(a)(2) of the Securities Act.

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