SEC Form 4 · accession 0001127602-16-047108

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

Mar 18, 2016

Accepted (ET)

Mar 22, 2016 · 11:37 am 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	Mar 18, 2016	M	60,000	$15.27	A	100,379	D
Common Stock^F1	Mar 18, 2016	S	60,000	$26.903	D	40,379	D
Common Stock	holding	—	—		—	128,523	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
Nq Stock Options^F2	$15.27	Mar 18, 2016	M	60,000	D	—	Oct 17, 2016	Common Stock	60,000	0	D
Nq Stock Options^F2	$30.33	holding	—	—	—	—	Oct 15, 2017	Common Stock	120,000	120,000	D
Restricted Stock Units^F3,F4	—	holding	—	—	—	—	Oct 15, 2022	Common Stock	4,751	4,751	D
Restricted Stock Units^F3,F5	—	holding	—	—	—	—	Oct 15, 2023	Common Stock	8,586	8,586	D
Restricted Stock Units^F3,F6	—	holding	—	—	—	—	Oct 15, 2024	Common Stock	7,833	7,833	D
Restricted Stock Units^F3,F7	—	holding	—	—	—	—	Oct 15, 2025	Common Stock	8,592	8,592	D

Explanation of responses

F1This transaction was executed in multiple trades at prices ranging from $26.62 to $27.41. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
F2Options are fully vested.
F3Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
F4Upon 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.
F5Upon 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.
F6Stock 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.
F7Stock 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.