SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Crumly Richard K. (Last) (First) (Middle) PO BOX 460633 (Street) SAN ANTONIO TX 78246-0633 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 07/17/2019	3. Issuer Name and Ticker or Trading Symbol XPEL, Inc. [ XPEL, INC. ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner Officer (give title below) Other (specify below)	5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	225,000	I	See Footnotes(1)(2)
Common Stock	2,079,793	I	See Footnote(3)
Common Stock	2,329,906	I	See Footnotes(2)(4)
Common Stock	255,500	I	See Footnote(5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents securities held by Crumly Family Partners, Ltd. Mr. Crumly is the general partner and a limited partner of Crumly Family Partners, Ltd. and as a result, has the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction in the shares held by Crumly Family Partners, Ltd.

2. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that Mr. Crumly is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any equity securities in excess of his pecuniary interests.

3. Represents securities held by ADAMAS, LLC. Mr. Crumly is the managing member of ADAMAS, LLC and as a result, has the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction in the shares held by ADAMAS, LLC.

4. Represents securities held by CARPE, LLC. ADAMAS, LLC is the managing member of CARPE, LLC and as a result, has the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction in the shares held by CARPE, LLC.

5. Represents securities held by Mr. Crumly's spouse. Mr. Crumly disclaims beneficial ownership of such securities.

Remarks:

	/s/ Richard K. Crumly	07/29/2019
	** 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 5 (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).
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