# EDGAR Filing Document

**Accession Number:** 0001404341
**File Stem:** 0001404341-23-000003
**Filing Date:** 2023-2
**Character Count:** 9604
**Document Hash:** cd8c1cbea7baad191152dd7317c66a72
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001404341-23-000003.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001404341-23-000003

**CONFORMED SUBMISSION TYPE**: SC 13G/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** XPEL, Inc.
- **CENTRAL INDEX KEY:** 0001767258
- **STANDARD INDUSTRIAL CLASSIFICATION:** COATING, ENGRAVING & ALLIED SERVICES [3470]
- **IRS NUMBER:** 201117381
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-91088
- **FILM NUMBER:** 23613252

**BUSINESS ADDRESS:**
- **STREET 1:** 711 BROADWAY ST.
- **STREET 2:** SUITE 320
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78215
- **BUSINESS PHONE:** 210-678-3700

**MAIL ADDRESS:**
- **STREET 1:** 711 BROADWAY ST.
- **STREET 2:** SUITE 320
- **CITY:** SAN ANTONIO
- **STATE:** TX
- **ZIP:** 78215
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Adams Mark
- **CENTRAL INDEX KEY:** 0001404341

**FILING VALUES:**
- **FORM TYPE:** SC 13G/A

**MAIL ADDRESS:**
- **STREET 1:** 12130 HIGHWAY 3
- **STREET 2:** BUILDING 1
- **CITY:** WEBSTER
- **STATE:** TX
- **ZIP:** 77598

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**______________________**

**SCHEDULE 13G**

**UNDER THE SECURITIES EXCHANGE ACT OF 1934**

**(AMENDMENT No. 3)**

**______________________**

**XPEL, INC.**

(Name of Issuer)

**Common Stock, par value of $0.001 per share**

(Title of Class of Securities)

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| |
|:---|
| **98379L100** |
| (CUSIP Number) |

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 <u>December 31, 2022</u>

(Date of Event Which Requires Filing of this Statement)

**______________________**

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ☐ Rule 13d-1(b)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; ☐ Rule 13d-1(c)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ☒ Rule 13d-1(d)

\* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

**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.**

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CUSIP No. **98379L100**

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| | | | |
|:---|:---|:---|:---|
| 1. | NAME OF REPORTING PERSON:<br>Mark E. Adams<br>I.R.S IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | NAME OF REPORTING PERSON:<br>Mark E. Adams<br>I.R.S IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): | NAME OF REPORTING PERSON:<br>Mark E. Adams<br>I.R.S IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): |
| 2. | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)<br>(a) ☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)<br>(a) ☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;☐ | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)<br>(a) ☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;☐ |
| 3. | SEC USE ONLY | SEC USE ONLY | SEC USE ONLY |
| 4. | CITIZENSHIP OR PLACE OF ORGANIZATION:<br>United States | CITIZENSHIP OR PLACE OF ORGANIZATION:<br>United States | CITIZENSHIP OR PLACE OF ORGANIZATION:<br>United States |
| NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | 5. | SOLE VOTING POWER<br> 2,260,811 |
| NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | 6. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SHARED VOTING POWER<br>0 |
| NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | 7. | SOLE DISPOSITIVE POWER<br> 2,260,811 |
| NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | NUMBER OF SHARES BENEFICIALLY BY OWNED BY EACH REPORTING PERSON WITH: | 8. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SHARES DISPOSITIVE POWER<br>0 |
| 9. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:<br>&nbsp;&nbsp;&nbsp;&nbsp;2,260,811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:<br>&nbsp;&nbsp;&nbsp;&nbsp;2,260,811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:<br>&nbsp;&nbsp;&nbsp;&nbsp;2,260,811 |
| 10. | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):<br>☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):<br>☐ | CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):<br>☐ |
| 11. | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):<br>&nbsp;&nbsp;&nbsp;&nbsp;8.19% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):<br>&nbsp;&nbsp;&nbsp;&nbsp;8.19% | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):<br>&nbsp;&nbsp;&nbsp;&nbsp;8.19% |
| 12. | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):<br>IN | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):<br>IN | TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):<br>IN |

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| | |
|:---|:---|
| **Item 1.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Name of Issuer:**<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; XPEL, Inc.<br>**(b) Address of Issuer's Principal Executive Offices:**<br>&nbsp;&nbsp;&nbsp;&nbsp;3251 I-35 San Antonio, Texas 78219 |
| **Item 2.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(a) Name of Person Filing:**<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mark E. Adams<br>**(b) Address of principal business office or, if none, residence:**<br>&nbsp;&nbsp;&nbsp;&nbsp;c/o XPEL, Inc.<br>&nbsp;&nbsp;&nbsp;&nbsp;3251 I-35 San Antonio, Texas 78219<br>**(c) Citizenship:**<br>&nbsp;&nbsp;&nbsp;&nbsp;United States |

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Page 2 of 4 pages

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| | |
|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(d)&nbsp;&nbsp;&nbsp;&nbsp;Title of Class of Securities:**<br>&nbsp;&nbsp;&nbsp;&nbsp; Common Stock, $0.001 par value per share<br>**(e)&nbsp;&nbsp;&nbsp;&nbsp;CUSIP Number:**<br>&nbsp;&nbsp;&nbsp;&nbsp; 98379L100 |
| **Item 3.** | **If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:**<br>Not Applicable |
| **Item 4.** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Ownership.**<br>Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.<br>**(a)**&nbsp;&nbsp;&nbsp;&nbsp;**Amount beneficially owned**: 2,260,811<br>**(b)**&nbsp;&nbsp;&nbsp;&nbsp;**Percent of class:**<br>&nbsp;&nbsp;&nbsp;&nbsp; 8.19 %<br>**(c)**&nbsp;&nbsp;&nbsp;&nbsp;**Number of shares as to which the person has:**<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Sole power to vote or to direct the vote<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,260,811<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Shared power to vote or to direct the vote<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Sole power to dispose or to direct the disposition of <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2,260,811<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Shared power to dispose or to direct the disposition of <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| **Item 5.** | **Ownership of Five Percent or Less of a Class.**<br>Not Applicable |
| **Item 6.** | **Ownership of More than Five Percent on Behalf of Another Person.**<br>Not Applicable |
| **Item 7.** | **Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.**<br>Not Applicable |
| **Item 8.** | **Identification and Classification of Members of the Group.**<br>Not Applicable |
| **Item 9.** | **Notice of Dissolution of Group.**<br>Not Applicable |
| **Item 10.** | **Certifications.**<br>Not Applicable |

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Page 3 of 4 pages

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**SIGNATURE**

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

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| |
|:---|
| February 1, 2023 |
| Date |
| /s/ Mark E. Adams |
| Mark E. Adams |

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