SEC Form 4 · accession 0001127602-15-029334
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Declan G Rushe
Officer — President & CEO, Qualspec Grp
Period of report
Oct 15, 2015
Accepted (ET)
Oct 19, 2015 · 7:11 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000318833
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2 | — | Oct 15, 2015 | A | 5,728 | A | — | Oct 15, 2025 | Common Stock | 5,728 | 5,728 | D |
Explanation of responses
- F1Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
- F2Stock 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.