SEC Form 4 · accession 0001127602-16-065210
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip J Hawk
Director
Period of report
Oct 15, 2016
Accepted (ET)
Oct 25, 2016 · 4:03 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 | Oct 15, 2016 | M | 1,515 | $0.00 | A | 49,635 | D | |
| Common StockF1 | Oct 15, 2016 | M | 1,246 | $0.00 | A | 50,881 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Oct 15, 2016 | M | 1,515 | D | — | Oct 15, 2024 | Common Stock | 1,515 | 6,318 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2016 | F | 1,096 | D | — | Oct 15, 2024 | Common Stock | 1,096 | 5,222 | D |
| Restricted Stock UnitsF2,F5 | — | Oct 15, 2016 | M | 1,246 | D | — | Oct 15, 2025 | Common Stock | 1,246 | 7,346 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2016 | F | 902 | D | — | Oct 15, 2025 | Common Stock | 902 | 6,444 | D |
| Nq Stock OptionsF6 | $30.33 | holding | — | — | — | — | Oct 15, 2017 | 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.
- F3Pursuant to a Special Vesting Agreement entered into as part of the certain Non-disclosure, Non-competition and Non-solicitation Agreement ("Agreement") with the Registrant as part of his transition to a non-employee director dated August 8, 2016, the Stock Units will continue to vest 25% on 10/15/2016, 10/15/2017 and 10/15/2018, unless earlier terminated in accordance with the Agreement or the Plan. Stock Units will automatically be converted into shares of Common Stock in accordance with the respective vesting schedule.
- F4Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- F5Pursuant to a Special Vesting Agreement entered into as part of the certain Non-disclosure, Non-competition and Non-solicitation Agreement ("Agreement") with the Registrant as part of his transition to a non-employee director dated August 8, 2016, the Stock Units will continue to vest 25% on 10/15/2016, 10/15/2017, 10/15/2018 and 10/15/2019, unless earlier terminated in accordance with the Agreement or the Plan. Stock Units will automatically be converted into shares of Common Stock in accordance with the respective vesting schedule.
- F6Options are fully vested.