SEC Form 4 · accession 0001127602-15-024654
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip J Hawk
Officer — Executive Chairman · Director
Period of report
Aug 7, 2015
Accepted (ET)
Aug 11, 2015 · 12:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000318833
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Aug 7, 2015 | S | 40,756 | $44.8903 | D | 159,404 | I | Family Ltd Partnership |
| Common Stock | holding | — | — | — | 30,155 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | holding | — | — | — | — | Oct 15, 2024 | Common Stock | 10,443 | 10,443 | D |
| Restricted Stock UnitsF2,F4 | — | holding | — | — | — | — | Oct 15, 2023 | Common Stock | 12,879 | 12,879 | D |
| Restricted Stock UnitsF2,F5 | — | holding | — | — | — | — | Oct 15, 2022 | Common Stock | 9,502 | 9,502 | D |
| Restricted Stock UnitsF2,F6 | — | holding | — | — | — | — | Oct 14, 2021 | Common Stock | 5,962 | 5,962 | D |
| Nq Stock OptionsF7 | $30.33 | holding | — | — | — | — | Oct 15, 2017 | Common Stock | 120,000 | 120,000 | D |
| Nq Stock OptionsF7 | $15.27 | holding | — | — | — | — | Oct 17, 2016 | Common Stock | 120,000 | 120,000 | D |
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $$44.42 to $45.34. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F2Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
- F3Stock Units vest 25% on 11/4/2015, 10/15/2016, 10/15/2017 and 10/15/2018, unless earlier terminated in accordance with the Plan. Stock Units will automatically be converted into shares of Common Stock in accordance with the repective vesting schedule.
- F4Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments on 10/15/2014, 10/15/2015, 10/15/2016, 10/15/2017, unless earlier terminated in accordance with the Plan. Stock units will automatically be converted into shares of common stock upon achievement of the performance goal in accordance with the respective time vesting schedule.
- F5Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments on 10/15/2013, 10/15/2014, 10/15/2015 and 10/15/2016, unless earlier terminated in accordance with the Plan. Stock units will automatically be converted into shares of common stock upon achievement of the performance goal in accordance with the respective time vesting schedule.
- F6Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments on 10/15/2012, 10/15/2013, 10/15/2014 and 10/15/2015, unless earlier terminated in accordance with the Plan. Stock units will automatically be converted into shares of common stock upon achievement of the performance goal in accordance with the respective time vesting schedule.
- F7Options are fully vested.