Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0362
Expires: January 31, 2005
Estimated average burden hours per response... 1.0

1. Name and Address of Reporting Person *
BELZER KORI
 2. Issuer Name and Ticker or Trading Symbol
SPAR GROUP INC [SGRP] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Operations Officer
(Last)
(First)
(Middle)

SPAR GROUP INC., 555 WHITE PLAINS ROAD, SUITE 250		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2006
(Street)


TARRYTOWN, NY 10591		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
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 at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. 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 control number. SEC 2270 (9-02)

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 Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options to buy Common Stock $ 10 09/30/2004   J4 (2)   24,390 08/02/2001 08/02/2006 Common Stock
24,390
(3) 182,140
D
 
Options to buy Common Stock $ 2.99 09/30/2004   J4 (2)   20,500   (1) 02/13/2013 Common Stock
20,500
(3) 161,640
D
 
Options to buy Common Stock $ 3.8 09/30/2004   J4 (2)   6,000   (1) 05/09/2013 Common Stock
6,000
(3) 155,640
D
 
Options to buy Common Stock $ 4.65 09/30/2004   J4 (2)   250   (1) 08/07/2013 Common Stock
250
(3) 155,390
D
 
Options to buy Common Stock $ 2.39 09/30/2004   J4 (2)   25,000   (1) 02/25/2014 Common Stock
25,000
(3) 130,390
D
 
Options to buy Common Stock $ 0.91 09/30/2004   J4 (2)   24,390   (1) 10/28/2014 Common Stock
24,390
(3) 106,000
D
 
Options to buy Common Stock $ 1.26 04/14/2005   A4 76,140     (1) 04/14/2015 Common Stock
76,140
(3) 182,140
D
 
Options to buy Common Stock $ 1.75 05/12/2005   A4 20,000     (1) 05/12/2015 Common Stock
20,000
(3) 202,140
D
 
Options to buy Common Stock $ 1.1 11/09/2005   A4 15,000     (1) 11/09/2015 Common Stock
15,000
(3) 217,140
D
 
Options to buy Common Stock $ 0.95 11/08/2006   A4 20,000     (1) 11/08/2016 Common Stock
20,000
(3) 237,140
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
BELZER KORI
SPAR GROUP INC.
555 WHITE PLAINS ROAD, SUITE 250
TARRYTOWN, NY 10591		       Chief Operations Officer  

Signatures

/s/ James Segreto, as attorney-in-fact under POA Grant and Confirming Statement dated March 5, 2004 02/14/2007
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Options vest in four annual installments.
(2) Options were voluntarily surrendered for cancellation.
(3) Options granted by the issuer pursuant to a stock option plan.

Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.