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Jeffrey Buchanan Bean, a director at Sparta Commercial Services, Inc. (OTC:SRCO), recently acquired 2,500 shares of common stock, according to a recent SEC filing. The purchase, made on February 20, 2025, was executed at a price of $0.29 per share, totaling $725. The transaction occurred slightly above the current trading price of $0.28, in a stock that InvestingPro data shows has delivered an impressive 114% return over the past year. Following this transaction, Bean’s direct ownership in the company now stands at 1,491,733 shares. Sparta Commercial Services, with a market capitalization of $10.79 million and notably high gross profit margins of 84%, is listed on the OTC market under the ticker SRCO. InvestingPro analysis reveals 11 additional key insights about SRCO’s financial health and market position.
In other recent news, Sparta Commercial Services, Inc. has announced the issuance of stock options to its executives and directors as part of its compensation strategy. The company disclosed that it has granted options for a total of 3,000,000 shares to key figures, including CEO Anthony L Havens and Vice President of Operations Sandra L Ahman. These options, which have an exercise price of $0.18 per share, will vest over three years in equal tranches. Additionally, two independent directors received options for 300,000 shares each as compensation for their past service. Employees of Sparta Commercial were also granted options totaling 220,000 shares under similar terms. The exercise price of these options represents a 110% premium over the average closing price of the company’s stock over the previous thirty trading days. The transactions are exempt from registration under the Securities Act, as they do not involve a public offering. This development was detailed in the company’s recent SEC filing, where full information on the stock option agreements can be found.
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