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SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940 		 
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
ADERS ROBERT O
(Last) (First) (Middle)
C/O SPAR GROUP, INC.
580 WHITE PLAINS ROAD
(Street)
TARRYTOWN NY 10591
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SPAR GROUP INC [ SGRP ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
01/07/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $.01 par value 01/07/2005 M 10,566(1) A $0.01 60,566 D
Common Stock, $.01 par value 01/07/2005 M 1,405(2) A $0.01 61,971 D
Common Stock, $.01 par value 01/07/2005 M 1,117(3) A $0.01 63,088 D
Common Stock, $.01 par value 01/07/2005 M 1,111(4) A $0.01 64,199 D
Common Stock, $.01 par value 01/07/2005 M 1,179(5) A $0.01 65,378 D
Common Stock, $.01 par value 01/07/2005 M 791(6) A $0.01 66,169 D
Common Stock, $.01 par value 01/07/2005 M 1,071(7) A $0.01 67,240 D
Common Stock, $.01 par value 01/07/2005 M 750(8) A $0.01 67,990 D
Common Stock, $.01 par value 01/07/2005 M 912(9) A $0.01 68,902 D
Common Stock, $.01 par value 01/07/2005 M 1,176(10) A $0.01 70,078 D
Common Stock, $.01 par value 01/07/2005 M 1,576(11) A $0.01 71,654 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Option to buy Common Stock $0.01 01/07/2005 M(1) 10,566 11/01/2001 11/01/2011 Common Stock, $.01 par value 0.01 $0.01 60,566 D
Option to buy Common Stock $0.01 01/07/2005 M(2) 1,405 12/31/2001 12/31/2011 Common Stock, $.01 par value 0.01 $0.01 61,971 D
Option to buy Common Stock $0.01 01/07/2005 M(3) 1,117 03/28/2002 03/28/2012 Common Stock, $.01 par value 0.01 $0.01 63,088 D
Option to buy Common Stock $0.01 01/07/2005 M(4) 1,111 06/28/2002 06/28/2012 Common Stock, $.01 par value 0.01 $0.01 64,199 D
Option to buy Common Stock $0.01 01/07/2005 M(5) 1,179 09/30/2002 09/30/2012 Common Stock, $.01 par value 0.01 $0.01 65,378 D
Option to buy Common Stock $0.01 01/07/2005 M(6) 791 12/31/2002 12/31/2012 Common Stock, $.01 par value 0.01 $0.01 66,169 D
Option to buy Common Stock $0.01 01/07/2005 M(7) 1,071 03/31/2003 03/31/2013 Common Stock, $.01 par value 0.01 $0.01 67,240 D
Option to buy Common Stock $0.01 01/07/2005 M(8) 750 06/30/2003 06/30/2013 Common Stock, $.01 par value 0.01 $0.01 67,990 D
Option to buy Common Stock $0.01 01/07/2005 M(9) 912 09/30/2003 09/30/2013 Common Stock, $.01 par value 0.01 $0.01 68,902 D
Option to buy Common Stock $0.01 01/07/2005 M(10) 1,176 12/31/2003 12/31/2013 Common Stock, $.01 par value 0.01 $0.01 70,078 D
Option to buy Common Stock $0.01 01/07/2005 M(11) 1,576 04/28/2004 03/31/2014 Common Stock, $.01 par value 0.01 $0.01 71,654 D
Explanation of Responses:
1. Option to buy granted to Reporting Person on November 1, 2001.
2. Option to buy granted to Reporting Person on December 31, 2001.
3. Option to buy granted to Reporting Person on March 28, 2002.
4. Option to buy granted to Reporting Person on June 28, 2002.
5. Option to buy granted to Reporting Person on September 30, 2002.
6. Option to buy granted to Reporting Person on December 31, 2002.
7. Option to buy granted to Reporting Person on March 31, 2003.
8. Option to buy granted to Reporting Person on June 30, 2003.
9. Option to buy granted to Reporting Person on September 30, 2003.
10. Option to buy granted to Reporting Person on December 31, 2003.
11. Option to buy granted to Reporting Person on April 28, 2004.
James Segreto, as attorney-in-fact under Power of Attorney Grant and Confirming Statement dated November 7, 2002 01/10/2005
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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 is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.