SEC Form 4 · accession 0001127602-15-030439
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
Nov 4, 2015
Accepted (ET)
Nov 5, 2015 · 4:44 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 | 814 | $0.00 | A | 301,934 | 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 | — | Nov 4, 2015 | M | 814 | D | — | Oct 15, 2024 | Common Stock | 814 | 4,408 | D |
| Restricted Stock UnitsF4 | — | Nov 4, 2015 | F | 491 | D | — | Oct 15, 2024 | Common Stock | 491 | 3,917 | D |
| Restricted Stock UnitsF2,F5 | — | holding | — | — | — | — | Oct 15, 2025 | Common Stock | 5,728 | 5,728 | D |
| Restricted Stock UnitsF2,F6 | — | holding | — | — | — | — | Oct 15, 2023 | Common Stock | 2,542 | 2,542 | D |
| Restricted Stock UnitsF2,F7 | — | holding | — | — | — | — | Oct 15, 2022 | Common Stock | 229 | 229 | 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.
- F6Stock 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.
- F7Stock 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.