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                     U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                     FORM 4

                  STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

     Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
               Section 30(f) of the Investment Company Act of 1940

[ ]  Check box if no longer  subject of Section 16. Form 4 or Form 5 obligations
     may continue. See Instruction 1(b).

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1.   Name and Address of Reporting Person*

     Brown                          Robert                G.
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   (Last)                           (First)             (Middle)

    c/o SPAR Group, Inc.
    580 White Plains Road
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                                    (Street)

    Tarrytown                        New York             10591
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   (City)                           (State)              (Zip)


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2.   Issuer Name and Ticker or Trading Symbol


    SPAR Group, Inc. ("SGRP")
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3.   IRS Identification Number of Reporting Person, if an Entity (Voluntary)


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4.   Statement for Month/Day/Year

     March 5, 2003
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5.   If Amendment, Date of Original (Month/Year)


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6.   Relationship of Reporting Person to Issuer
     (Check all applicable)

     [X]  Director                             [X]  10% Owner
     [X]  Officer (give title below)           [ ]  Other (specify below)

                Chairman, Chief Executive Officer and President
                -----------------------------------------------
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7.   Individual or Joint/Group Filing (Check applicable line)

     [X]  Form filed by one Reporting Person
     [ ]  Form filed by more than one Reporting Person
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================================================================================
           Table I -- Non-Derivative Securities Acquired, Disposed of,
                             or Beneficially Owned
================================================================================
6. 4. 5. Owner- 2A. Securities Acquired (A) or Amount of ship Deemed 3. Disposed of (D) Securities Form: 7. Execution Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of 2. Date, if Code -------------------------- Owned Follow- (D) or Indirect 1. Transaction any (Instr. 8) (A) ing Reported Indirect Beneficial Title of Security Date (mm/dd/yy) ----------- Amount or Price Transactions (I) Ownership (Instr. 3) (mm/dd/yy) Code V (D) (Instr. 3 and 4) (Instr.4) (Instr. 4) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock, $.01 par value 3/6/03 P 1,000 A $3.50 I (1) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock, $.01 par value 3/6/03 P 1,000 A $3.50 I (1) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock, $.01 par value 3/5/03 P 1,000 A $3.49 I (1) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock, $.01 par value 2,106,250 I (1)(2)(3) - ------------------------------------------------------------------------------------------------------------------------------------ Common Stock, $.01 par value 6,219,282 D ====================================================================================================================================
Page 1 of 2 (Over) FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ================================================================================
10. 9. Owner- Number ship of Form 2. 6. Deriv- of Conver- 5. Date 7. ative Deriv- 11. sion Number of Exercisable Title and Amount Secur- ative Nature or Derivative and of Underlying 8. ities Secur- of Exer- 4. Securities Expiration Date Securities Price Bene- ity: In- cise 3. 3A. Trans- Acquired (A) (Month/Day/Year) (Instr. 3 and 4) of ficially Direct direct Price Trans- Deemed action or Disposed ---------------- ---------------- Deriv- Owned (D) or Bene- 1. of action Execution Code of(D) Amount ative Following In- ficial Title of Deriv- Date Date, if (Instr. (Instr. 3, or Secur- Trans- direct Owner- Derivative ative (Month/ any 8) 4 and 5) Date Expira- Number ity actions (I) ship Security Secur- Day/ (Month/Day ------ ----------- Exer- tion of (Instr. (Instr. (Instr. (Instr. (Instr. 3) ity Year) Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4) - ------------------------------------------------------------------------------------------------------------------------------------ Common Option to Stock, buy Common $.01 par 95,747 Stock $1.30 (4) 8/2/11 value (5) D - ------------------------------------------------------------------------------------------------------------------------------------ Common Option to Stock, buy Common $.01 par Stock $1.30 (6) 8/2/11 value 191,493 D - ------------------------------------------------------------------------------------------------------------------------------------ Common Option to Stock, buy Common $.01 par Stock $1.43 (7) 8/2/11 value 191,493 D - ------------------------------------------------------------------------------------------------------------------------------------ Common Option to Stock, buy Common $.01 par Stock value 478,733 D - ------------------------------------------------------------------------------------------------------------------------------------ - ------------------------------------------------------------------------------------------------------------------------------------ ====================================================================================================================================
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Explanation of Responses: (1) Owned as Trustee under Defined Benefit Pension Trust of SP/R, Inc. (f/k/a SPAR/Burgoyne, Inc), under which the Reporting Person is the sole beneficiary. (2) Owned as Trustee under Grantor Trust I of Robert G. Brown Dated March 22, 1999, for the benefit of Reporting Person's children. (3) Owned as Trustee under Grantor Trust II of Robert G. Brown Dated March 22, 1999, for the benefit of Reporting Person's children. (4) Vests as to 95,747 shares on August 2, 2003. (5) 382,986 option shares were granted on August 2, 2001; 287,239.5 shares have vested and been exercised; (6) All Shares become immediately vested and exercisable when the fair market value of shares is $10.00. (7) Shares are eligible to vest in five equal vesting periods through each of December 31, 2001, 2002, 2003, 2004 and 2005. For each period, Twenty percent of the options may become vested and exercisable if the fair market value of the shares equals at least $10.00 at some time such during period. On January 1, 2006 through August 2, 2006, all options which did not vest during the earlier vesting periods will become immediately exercisable if the fair market value of the shares, at any time during this seven month period, equals no less than $10.00. /s/ James Segreto 3/7/03 - --------------------------------------------- ------------------- **Signature of Reporting Person Date James Segreto, as attorney-in-fact under Power of Attorney Grant and Confirming Statement dated November 7, 2002. * If the form is filed by more than one reporting person, see Instruction 4(b)(v). ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Page 2 of 2