SPAR Group, Inc. (NASDAQ:SGRP) Files An 8-K Other Events
Item 8.01 Other Events
Spar Group, Inc. (the “Company”) is unable to file its Definitive Proxy Statement (the “Proxy Statement”) in connection with its 2020 Annual Meeting of Stockholders, including the information omitted from the Company’s 2019 Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on April 14, 2020, to General Instruction G(3) of Form 10-K (the “Part III Information”), which the Company expected to include in the Proxy Statement by the original deadline of April 29, 2020. However, due to the outbreak of, and local, state, and federal governmental responses to, and related circumstances arising from, the COVID-19 pandemic, the Company’s internal team, auditors, accountants, and other advisors whose input is required before filing the Proxy Statement, have all needed to conduct this work remotely, which has, in turn, caused a delay in the preparation and filing of the Proxy Statement. A majority of the Company’s employees are working remotely to complete and file the Proxy Statement, including the Part III Information.
Given the impact of the aforementioned circumstances, the Company was unable to compile and review certain information required to file the Proxy Statement by April 29, 2020, the original filing deadline, without unreasonable effort or expense. On March 4, 2020, the Securities and Exchange Commission issued an order (Release No. 34-88318) under Section 36 of the Exchange Act granting exemptions from specified provisions of the Exchange Act and certain rules thereunder, as superseded by a subsequent order (Release No. 34-88465) issued on March 25, 2020 (collectively, the “Order”). The Company is relying on the Order to delay the filing of the Proxy Statement and is accordingly filing this Current Report on Form 8-K. The Company expects to file the Proxy Statement, including the Part III Information, no later than June 15, 2020, which is 45 days from the Proxy Statement’s original filing deadline of April 29, 2020.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits:
None.
About SPAR Group, Inc. (NASDAQ:SGRP)
Spar Group, Inc. is an international merchandising and marketing services company. The Company provides its merchandising and other marketing services to manufacturers, distributors and retailers across the world, primarily in mass merchandisers, office supply, grocery, drug store, independent, convenience, toy, home improvement and electronics stores. It operates through two segments: the Domestic Division and the International Division. The Domestic Division provides merchandising and marketing services, furniture and other product assembly services, audit services, and technology services to manufacturers, distributors and retailers in the United States. Those services are primarily performed in mass merchandisers, office supply, grocery, drug store, dollar and electronics stores. The International Division provides merchandising, marketing services and in-store event staffing through subsidiaries in Japan, Canada, South Africa, India, China, Australia, Mexico and Turkey.