SEC Form 4 · accession 0001127602-15-030423
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
Nov 4, 2015
Accepted (ET)
Nov 5, 2015 · 4:08 pm EST
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 | Nov 4, 2015 | M | 1,515 | $0.00 | A | 40,379 | 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 UnitsF2,F3 | — | Nov 4, 2015 | M | 1,515 | D | — | Oct 15, 2024 | Common Stock | 1,515 | 8,928 | D |
| Restricted Stock UnitsF4 | — | Nov 4, 2015 | F | 1,095 | D | — | Oct 15, 2024 | Common Stock | 1,095 | 7,833 | D |
| Restricted Stock UnitsF2,F5 | — | holding | — | — | — | — | Oct 15, 2025 | Common Stock | 8,592 | 8,592 | D |
| Restricted Stock UnitsF2,F6 | — | holding | — | — | — | — | Oct 15, 2023 | Common Stock | 8,586 | 8,586 | D |
| Restricted Stock UnitsF2,F7 | — | holding | — | — | — | — | Oct 15, 2022 | Common Stock | 4,751 | 4,751 | D |
| Nq Stock OptionsF8 | $30.33 | holding | — | — | — | — | Oct 15, 2017 | Common Stock | 120,000 | 120,000 | D |
| Nq Stock OptionsF8 | $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 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.
- F4Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- F5Stock 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.
- F6Upon 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.
- F7Upon 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.
- F8Options are fully vested.