SEC Form 4 · accession 0001127602-16-069548
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Philip J Hawk
Director
Period of report
Dec 7, 2016
Accepted (ET)
Dec 9, 2016 · 12:16 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 | Dec 7, 2016 | M | 40,000 | $30.33 | A | 173,140 | D | |
| Common StockF1 | Dec 7, 2016 | S | 40,000 | $35.135 | D | 133,140 | D | |
| Common StockF2 | Dec 7, 2016 | G | 25,000 | $0.00 | D | 108,140 | D | |
| Common Stock | Dec 8, 2016 | M | 20,000 | $30.33 | A | 128,140 | D | |
| Common StockF3 | Dec 8, 2016 | S | 20,000 | $36.3714 | D | 108,140 | D | |
| Common Stock | holding | — | — | — | 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 OptionsF4 | $30.33 | Dec 7, 2016 | M | 40,000 | D | — | Oct 15, 2017 | Common Stock | 40,000 | 80,000 | D |
| Nq Stock OptionsF4 | $30.33 | Dec 8, 2016 | M | 20,000 | D | — | Oct 15, 2017 | Common Stock | 20,000 | 60,000 | D |
| Restricted Stock UnitsF5,F6 | — | holding | — | — | — | — | Oct 15, 2025 | Common Stock | 6,444 | 6,444 | D |
| Restricted Stock UnitsF5,F7 | — | holding | — | — | — | — | Oct 15, 2024 | Common Stock | 5,222 | 5,222 | D |
Explanation of responses
- F1This transaction was executed in multiple trades at prices ranging from $35.00 to $35.45. 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.
- F2Reporting person made a gift of Team, Inc. shares to a charitable organization.
- F3This transaction was executed in multiple trades at prices ranging from $36.15 to $36.70. 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 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.
- F7Stock 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.