SEC Form 4 · accession 0001127602-17-029936
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey L Ott
Officer — President, TeamFurmanite&Quest
Period of report
Oct 15, 2017
Accepted (ET)
Oct 17, 2017 · 4:42 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, 2017 | M | 793 | $0.00 | A | 305,370 | D | |
| Common StockF1 | Oct 15, 2017 | M | 814 | $0.00 | A | 306,184 | D | |
| Common StockF1 | Oct 15, 2017 | M | 893 | $0.00 | A | 307,077 | 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, 2017 | M | 793 | D | — | Oct 15, 2023 | Common Stock | 793 | 478 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2017 | F | 478 | D | — | Oct 15, 2023 | Common Stock | 478 | 0 | D |
| Restricted Stock UnitsF2,F5 | — | Oct 15, 2017 | M | 814 | D | — | Oct 15, 2024 | Common Stock | 814 | 1,797 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2017 | F | 491 | D | — | Oct 15, 2024 | Common Stock | 491 | 1,306 | D |
| Restricted Stock UnitsF2,F6 | — | Oct 15, 2017 | M | 893 | D | — | Oct 15, 2025 | Common Stock | 893 | 3,403 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2017 | F | 539 | D | — | Oct 15, 2025 | Common Stock | 539 | 2,864 | D |
| Restricted Stock UnitsF2,F7 | — | holding | — | — | — | — | Nov 15, 2026 | Common Stock | 8,407 | 8,407 | D |
| Restricted Stock UnitsF2,F8 | — | holding | — | — | — | — | Sep 18, 2027 | Common Stock | 35,186 | 35,186 | 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 10/15/2014, 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.
- F4Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- F5Stock 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.
- 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 11/15/2017, 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.
- F8Stock Units vest 100% on 9/18/2019, unless earlier vested or terminated in accordance with the Retention Agreement. Stock Units will automatically be converted into shares of Common Stock in accordance with the respective vesting schedule.