SEC Form 4 · accession 0001127602-18-002635
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Amerino Gatti
Officer — CEO · Director
Period of report
Jan 24, 2018
Accepted (ET)
Jan 26, 2018 · 2:11 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 | holding | — | — | — | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Stock UnitsF1 | $0.00 | Jan 24, 2018 | A | 350,000 | A | Jan 24, 2023 | Jan 24, 2023 | Common Stock | 350,000 | 350,000 | D |
Explanation of responses
- F1Each performance stock unit ("PSU") represents a contingent right to receive one share of Common Stock. Twenty percent (20%) of the PSUs will vest and become non-forfeitable on the date on which each Common Stock price milestone specified in the Performance Unit Award Agreement dated January 24, 2018 is achieved during the performance period beginning January 24, 2018 and ending January 24, 2023 (or, if later, January 24, 2019), subject to continued employment through the applicable vesting date.