SEC Form 4 · accession 0001127602-15-029318
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey L Ott
Officer — President, Quest Integrity Grp
Period of report
Oct 15, 2015
Accepted (ET)
Oct 19, 2015 · 6:46 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 | Oct 15, 2015 | M | 155 | $0.00 | A | 300,185 | D | |
| Common StockF1 | Oct 15, 2015 | M | 142 | $0.00 | A | 300,327 | D | |
| Common StockF1 | Oct 15, 2015 | M | 793 | $0.00 | A | 301,120 | 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 | — | Oct 15, 2015 | A | 5,728 | A | — | Oct 15, 2025 | Common Stock | 5,728 | 5,728 | D |
| Restricted Stock UnitsF2,F4 | — | Oct 15, 2015 | M | 155 | D | — | Oct 14, 2021 | Common Stock | 155 | 94 | D |
| Restricted Stock UnitsF5 | — | Oct 15, 2015 | F | 94 | D | — | Oct 14, 2021 | Common Stock | 94 | 0 | D |
| Restricted Stock UnitsF2,F6 | — | Oct 15, 2015 | M | 142 | D | — | Oct 15, 2022 | Common Stock | 142 | 315 | D |
| Restricted Stock UnitsF5 | — | Oct 15, 2015 | F | 86 | D | — | Oct 15, 2022 | Common Stock | 86 | 229 | D |
| Restricted Stock UnitsF2,F7 | — | Oct 15, 2015 | M | 793 | D | — | Oct 15, 2023 | Common Stock | 793 | 3,020 | D |
| Restricted Stock UnitsF5 | — | Oct 15, 2015 | F | 478 | D | — | Oct 15, 2023 | Common Stock | 478 | 2,542 | D |
| Restricted Stock UnitsF2,F8 | — | holding | — | — | — | — | Oct 15, 2024 | Common Stock | 5,222 | 5,222 | 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.
- F4Stock Units vest 25% 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 in accordance with the respective vesting schedule.
- F5Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- F6Stock Units vest 25% 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 in accordance with the respective vesting schedule.
- F7Stock Units vest 25% on 10/15/2014, 10/15/2015, 10/15/2016 and 10/15/2017, 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.
- 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.