SEC Form 4 · accession 0001127602-16-061499
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ted W Owen
Officer — President & CEO · Director
Period of report
Aug 29, 2016
Accepted (ET)
Aug 30, 2016 · 5:04 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 | Aug 29, 2016 | S | 2,717 | $31.86 | D | 0 | I | 401K Plan |
| Common Stock | holding | — | — | — | 54,030 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Nq Stock OptionsF2 | $30.33 | holding | — | — | — | — | Oct 15, 2017 | Common Stock | 24,000 | 24,000 | D |
| Restricted Stock UnitsF3,F4 | — | holding | — | — | — | — | Oct 15, 2022 | Common Stock | 1,764 | 1,764 | D |
| Restricted Stock UnitsF3,F5 | — | holding | — | — | — | — | Oct 15, 2023 | Common Stock | 3,187 | 3,187 | D |
| Restricted Stock UnitsF3,F6 | — | holding | — | — | — | — | Oct 15, 2024 | Common Stock | 6,363 | 6,363 | D |
| Restricted Stock UnitsF3,F7 | — | holding | — | — | — | — | Oct 15, 2025 | Common Stock | 10,024 | 10,024 | D |
Explanation of responses
- F1Total reallocation of 401K portfolio for retirement planning purposes resulted in 401K Plan sale of shares from Team stock fund (number of shares sold by 401K Plan is estimated).
- F2Options are fully vested.
- F3Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
- F4Stock 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.
- F5Stock 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.
- 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.