SEC Form 4 · accession 0001127602-16-065589
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip J Hawk
Director
Period of report
Oct 28, 2016
Accepted (ET)
Nov 1, 2016 · 10:29 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 | Oct 28, 2016 | J | 128,523 | $0.00 | D | 0 | I | Family Ltd Partnership |
| Common Stock | Oct 28, 2016 | J | 128,523 | $0.00 | A | 179,404 | D | |
| Common Stock | Oct 28, 2016 | J | 50,850 | $0.00 | D | 128,554 | D | |
| Common Stock | Oct 28, 2016 | J | 50,850 | $0.00 | A | 50,850 | 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 OptionsF3 | $30.33 | holding | — | — | — | — | Oct 15, 2017 | Common Stock | 120,000 | 120,000 | D |
| Restricted Stock UnitsF4,F5 | — | holding | — | — | — | — | Oct 15, 2024 | Common Stock | 5,222 | 5,222 | D |
| Restricted Stock UnitsF4,F6 | — | holding | — | — | — | — | Oct 15, 2025 | Common Stock | 6,444 | 6,444 | D |
Explanation of responses
- F1The reporting person transferred these shares from the family limited partnership to trusts, of which he has control of the assets, as part of an exchange.
- F2The reporting person transferred these shares from trusts, of which he has control of the assets, to his personal account, as part of an exchange.
- F3Options are fully vested.
- F4Stock Units convert on a 1-for-1 basis into shares of Team 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 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.
- F6Pursuant 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.