SEC Form 4 · accession 0001127602-15-029316

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

Oct 15, 2015

Accepted (ET)

Oct 19, 2015 · 6:38 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 Stock^F1	Oct 15, 2015	M	3,460	$0.00	A	33,615	D
Common Stock^F1	Oct 15, 2015	M	2,757	$0.00	A	36,372	D
Common Stock^F1	Oct 15, 2015	M	2,492	$0.00	A	38,864	D
Common Stock	holding	—	—		—	159,404	I	Family Ltd Partnership

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Restricted Stock Units^F2,F3	—	Oct 15, 2015	A	8,592	A	—	Oct 15, 2025	Common Stock	8,592	8,592	D
Restricted Stock Units^F2,F4	—	Oct 15, 2015	M	3,460	D	—	Oct 14, 2021	Common Stock	3,460	2,502	D
Restricted Stock Units^F5	—	Oct 15, 2015	F	2,502	D	—	Oct 14, 2021	Common Stock	2,502	0	D
Restricted Stock Units^F2,F6	—	Oct 15, 2015	M	2,757	D	—	Oct 15, 2022	Common Stock	2,757	6,745	D
Restricted Stock Units^F5	—	Oct 15, 2015	F	1,994	D	—	Oct 15, 2022	Common Stock	1,994	4,751	D
Restricted Stock Units^F2,F7	—	Oct 15, 2015	M	2,492	D	—	Oct 15, 2023	Common Stock	2,492	10,387	D
Restricted Stock Units^F5	—	Oct 15, 2015	F	1,801	D	—	Oct 15, 2023	Common Stock	1,801	8,586	D
Restricted Stock Units^F2,F8	—	holding	—	—	—	—	Oct 15, 2024	Common Stock	10,443	10,443	D
Nq Stock Options^F9	$30.33	holding	—	—	—	—	Oct 15, 2017	Common Stock	120,000	120,000	D
Nq Stock Options^F9	$15.27	holding	—	—	—	—	Oct 17, 2016	Common Stock	120,000	120,000	D

Explanation of responses

F1Represents vesting of restricted Stock Units and conversion to Team Common Stock.
F2Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
F3Stock Units vest 25% on 10/15/2016, 10/15/2017, 10/15/2018 and 10/15/2019, unless earlier terminated in accordance with the Plan. Stock Units will automatically be converted into shares of Common Stock in accordance with the respective vesting schedule.
F4Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments on 10/15/2012, 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.
F5Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
F6Upon 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.
F7Upon 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.
F8Stock 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.
F9Options are fully vested.