SEC Form 4 · accession 0001127602-16-065228
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
Oct 15, 2016
Accepted (ET)
Oct 25, 2016 · 5:28 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 | 1,281 | $0.00 | A | 55,311 | D | |
| Common StockF1 | Oct 15, 2016 | M | 1,157 | $0.00 | A | 56,468 | D | |
| Common StockF1 | Oct 15, 2016 | M | 1,540 | $0.00 | A | 58,008 | D | |
| Common StockF1 | Oct 15, 2016 | M | 1,820 | $0.00 | A | 59,828 | 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 | — | Oct 15, 2016 | M | 1,281 | D | — | Oct 15, 2022 | Common Stock | 1,281 | 483 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2016 | F | 483 | D | — | Oct 15, 2022 | Common Stock | 483 | 0 | D |
| Restricted Stock UnitsF2,F5 | — | Oct 15, 2016 | M | 1,157 | D | — | Oct 15, 2023 | Common Stock | 1,157 | 2,030 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2016 | F | 436 | D | — | Oct 15, 2023 | Common Stock | 436 | 1,594 | D |
| Restricted Stock UnitsF2,F6 | — | Oct 15, 2016 | M | 1,540 | D | — | Oct 15, 2024 | Common Stock | 1,540 | 4,823 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2016 | F | 581 | D | — | Oct 15, 2024 | Common Stock | 581 | 4,242 | D |
| Restricted Stock UnitsF2,F7 | — | Oct 15, 2016 | M | 1,820 | D | — | Oct 15, 2025 | Common Stock | 1,820 | 8,204 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2016 | F | 686 | D | — | Oct 15, 2025 | Common Stock | 686 | 7,518 | D |
| Nq Stock OptionsF8 | $30.33 | holding | — | — | — | — | Oct 15, 2017 | Common Stock | 24,000 | 24,000 | 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.
- F3Stock 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.
- F4Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- 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.
- F8Options are fully vested.