SEC Form 4 · accession 0001127602-17-027820
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gary G Yesavage
Officer — Interim CEO · Director
Period of report
Sep 18, 2017
Accepted (ET)
Sep 20, 2017 · 3:41 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 Stock | holding | — | — | — | 2,826 | 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 UnitsF1,F2 | — | Sep 18, 2017 | A | 14,815 | A | — | Sep 18, 2027 | Common Stock | 14,815 | 14,815 | D |
| Restricted Stock UnitsF1,F3 | — | Sep 18, 2017 | A | 14,815 | A | — | Sep 18, 2027 | Common Stock | 14,815 | 14,815 | D |
Explanation of responses
- F1Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
- F2Stock Units vest 100% on 01/18/2018, unless earlier vested or terminated in accordance with the Interim CEO Award Agreement dated 09/18/2017.
- F3Stock Units vest at the discretion of the Board of Directors of the Company upon the appointment of a permanent CEO, unless earlier vested or terminated in accordance with the CEO Award Agreement dated 09/18/2017.