SEC Form 4 · accession 0001127602-18-033657
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey L Ott
Officer — President, TEAM PSL & Quest
Period of report
Nov 15, 2018
Accepted (ET)
Nov 19, 2018 · 1:32 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 StockF1 | Nov 15, 2018 | M | 1,464 | $0.00 | A | 311,758 | D | |
| Common StockF1 | Nov 15, 2018 | M | 2,751 | $0.00 | A | 314,509 | 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 | — | Nov 15, 2018 | A | 15,270 | A | — | Nov 15, 2028 | Common Stock | 15,270 | 15,270 | D |
| Restricted Stock UnitsF2,F4 | — | Nov 15, 2018 | M | 1,464 | D | — | Nov 15, 2026 | Common Stock | 1,464 | 4,842 | D |
| Restricted Stock UnitsF5 | — | Nov 15, 2018 | F | 638 | D | — | Nov 15, 2026 | Common Stock | 638 | 4,204 | D |
| Restricted Stock UnitsF2,F6 | — | Nov 15, 2018 | M | 2,751 | D | — | Nov 15, 2027 | Common Stock | 2,751 | 13,054 | D |
| Restricted Stock UnitsF5 | — | Nov 15, 2018 | F | 1,200 | D | — | Nov 15, 2027 | Common Stock | 1,200 | 11,854 | D |
| Restricted Stock UnitsF2,F7 | — | holding | — | — | — | — | Sep 18, 2027 | Common Stock | 35,186 | 35,186 | D |
| Restricted Stock UnitsF2,F8 | — | holding | — | — | — | — | Oct 15, 2025 | Common Stock | 1,432 | 1,432 | 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 11/15/2019, 11/15/2020, 11/15/2021 and 11/15/2022, 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.
- F4Stock 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.
- F5Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
- F6Stock 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.
- F7Stock 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.
- F8Stock 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.