SEC Form 4 · accession 0001127602-18-033707
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael R Wood
Officer — Sr. Vice President, HSE
Period of report
Nov 15, 2018
Accepted (ET)
Nov 19, 2018 · 3:11 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000318833
Table I — non-derivative securities
No Table I lines on this filing.
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 | — | Nov 15, 2018 | A | 4,442 | A | — | Nov 15, 2028 | Common Stock | 4,442 | 4,442 | D |
Explanation of responses
- F1Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
- F2Stock 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.