SEC Form 4 · accession 0001127602-18-030405
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Greg L Boane
Officer — Executive Vice President & CFO
Period of report
Oct 15, 2018
Accepted (ET)
Oct 17, 2018 · 11:49 am 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, 2018 | M | 864 | $0.00 | A | 12,436 | D | |
| Common StockF1 | Oct 15, 2018 | M | 947 | $0.00 | A | 13,383 | D | |
| Common Stock | holding | — | — | — | 4,767 | I | 401K Plan |
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, 2018 | M | 864 | D | — | Oct 15, 2024 | Common Stock | 864 | 279 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2018 | F | 279 | D | — | Oct 15, 2024 | Common Stock | 279 | 0 | D |
| Restricted Stock UnitsF2,F5 | — | Oct 15, 2018 | M | 947 | D | — | Oct 15, 2025 | Common Stock | 947 | 1,559 | D |
| Restricted Stock UnitsF4 | — | Oct 15, 2018 | F | 306 | D | — | Oct 15, 2025 | Common Stock | 306 | 1,253 | D |
| Restricted Stock UnitsF2,F6 | — | holding | — | — | — | — | Nov 15, 2026 | Common Stock | 4,586 | 4,586 | D |
| Restricted Stock UnitsF2,F7 | — | holding | — | — | — | — | Nov 15, 2027 | Common Stock | 15,326 | 15,326 | 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 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.
- F4Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- F5Stock 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.
- 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 11/15/2018, 11/15/2019, 11/15/2020 and 11/15/2021, 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.