SEC Form 4 · accession 0001127602-16-065224
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Greg L Boane
Officer — Executive Vice President & CFO
Period of report
Oct 15, 2016
Accepted (ET)
Oct 25, 2016 · 4:55 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 | 829 | $0.00 | A | 2,908 | D | |
| Common StockF1 | Oct 15, 2016 | M | 910 | $0.00 | A | 3,818 | D | |
| Common StockF2 | holding | — | — | — | 1,256 | I | 401K Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF3,F4 | — | Oct 15, 2016 | M | 829 | D | — | Oct 15, 2024 | Common Stock | 829 | 2,598 | D |
| Restricted Stock UnitsF5 | — | Oct 15, 2016 | F | 313 | D | — | Oct 15, 2024 | Common Stock | 313 | 2,285 | D |
| Restricted Stock UnitsF3,F6 | — | Oct 15, 2016 | M | 910 | D | — | Oct 15, 2025 | Common Stock | 910 | 4,102 | D |
| Restricted Stock UnitsF5 | — | Oct 15, 2016 | F | 343 | D | — | Oct 15, 2025 | Common Stock | 343 | 3,759 | D |
Explanation of responses
- F1Represents vesting of restricted Stock Units and conversion to Team Common Stock.
- F2Represents estimated shares held in 401K Plan.
- F3Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
- F4Stock 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.
- F5Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- F6Stock 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.