Theodore O'Neill

- SPAR Group, Inc. announced that **Mike R. Matacunas** will resign as President immediately and as Chief Executive Officer on **October 3, 2025**.  **[1004989_0001437749-25-028031_ex_857947.htm:0]** **[1004989_0001437749-25-028031_sgrp20250828_8k.htm:1]**  He will receive a **$2,000,000 retention bonus** and accelerated RSU vesting, and his Change in Control Severance Agreement will terminate, relieving the company of a **$4 million potential liability**.  **[1004989_0001437749-25-028031_ex_857947.htm:0]** **[1004989_0001437749-25-028031_sgrp20250828_8k.htm:1]** 
- **William Linnane** has been appointed President, effective immediately, and will serve as interim CEO from October 3, 2025.  **[1004989_0001437749-25-028031_ex_857949.htm:0]** **[1004989_0001437749-25-028031_sgrp20250828_8k.htm:1]**  His compensation includes a **base salary of $415,000** and a **$250,000 special one-time bonus** upon becoming interim CEO.  **[1004989_0001437749-25-028031_sgrp20250828_8k.htm:1]** **[1004989_0001437749-25-028031_ex_857949.htm:2]** 
- The company eliminated the Global Chief Commercial Officer and Global Chief Operating Officer positions, leading to the departure of **Ron Lutz** and **Kori Belzer** on August 29, 2025.  **[1004989_0001437749-25-028031_ex_857950.htm:0]** **[1004989_0001437749-25-028031_sgrp20250828_8k.htm:2]**  They will receive severance payments of **$588,258** and **$871,405**, respectively.  **[1004989_0001437749-25-028031_ex_857950.htm:0]** **[1004989_0001437749-25-028031_ex_857954.htm:0]** **[1004989_0001437749-25-028031_sgrp20250828_8k.htm:2]**  Ron Lutz will also provide consulting services for **$15,000 per month** starting September 8, 2025.  **[1004989_0001437749-25-028031_ex_857952.htm:0]** **[1004989_0001437749-25-028031_sgrp20250828_8k.htm:2]**

SPAR Group Announces Executive Leadership Changes and Severance Agreements

- SPAR Group (SGRP) has undergone a significant transformation over the last **18 months**, divesting international businesses to focus on its **100% owned U.S. and Canada operations**, which returned **$10 million+** to the balance sheet.  **[1004989_tx_375182_1]** **[1004989_tx_375182_3]** 
- The company reported **$73 million** in revenue and a **$14 million** cash position as of June.  **[1004989_tx_375182_3]**  Its U.S. and Canada business doubled in size over the last **four years** and saw **5% year-on-year growth** in Q2, with a future pipeline of **$200 million**.  **[1004989_tx_375182_1]** **[1004989_tx_375182_2]** **[1004989_tx_375182_3]** 
- A previously accepted takeover offer from Highwire Capital for **$2.50 per share** was terminated in May, leading to a negotiated **$2 million termination penalty**; the company is pursuing the balance of this agreement.  **[1004989_tx_375182_3]** **[1004989_tx_375182_4]** 
- SPAR Group is leveraging technology and AI to enhance its services, such as real-time capture of shelf data, and to optimize internal operations, aiming to expand EBITDA margins and increase net income.  **[1004989_tx_375182_1]** **[1004989_tx_375182_2]** **[1004989_tx_375182_4]**