SEC Form 4 · accession 0001127602-16-067472
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
Nov 14, 2016
Accepted (ET)
Nov 16, 2016 · 5:34 pm EST
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 | Nov 14, 2016 | M | 24,000 | $30.33 | A | 83,828 | D | |
| Common StockF3 | Nov 14, 2016 | S | 21,000 | $36.71 | D | 62,828 | 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 OptionsF4 | $30.33 | Nov 14, 2016 | M | 24,000 | D | — | Oct 15, 2017 | Common Stock | 24,000 | 0 | D |
| Restricted Stock UnitsF5,F6 | — | Nov 15, 2016 | A | 10,700 | A | — | Nov 15, 2026 | Common Stock | 10,700 | 10,700 | D |
| Restricted Stock UnitsF5,F7 | — | holding | — | — | — | — | Oct 15, 2025 | Common Stock | 7,518 | 7,518 | D |
| Restricted Stock UnitsF5,F8 | — | holding | — | — | — | — | Oct 15, 2024 | Common Stock | 4,242 | 4,242 | D |
| Restricted Stock UnitsF5,F9 | — | holding | — | — | — | — | Oct 15, 2023 | Common Stock | 1,594 | 1,594 | D |
Explanation of responses
- F1Reporting person purchased shares via a cashless exercise of stock options.
- F2Reporting person sold shares to fund a cashless exercise of stock options.
- F3This transaction was executed in multiple trades at prices ranging from $36.50 to $37.10. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4Options are fully vested.
- F5Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
- F6Stock Units vest 25% on 11/15/2017, 11/15/2018, 11/15/2019 and 11/15/2020, 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.
- 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.
- F8Stock 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.
- F9Stock 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.