SEC Form 3 · accession 0001493152-26-036883
TEAM INC · TISI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Raymond Alston Whiteman
10% Owner
Stellex Management Partners A LLC
10% Owner
Stellex Partners III LP
10% Owner
Stellex Management Partners A LP
10% Owner
InspectionTech Holdings LP
10% Owner
Period of report
Aug 6, 2026
Accepted (ET)
Aug 10, 2026 · 4:40 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 | holding | — | — | — | 1,604,326 | I | See footnote | |
| Series B Preferred StockF1 | holding | — | — | — | 75,000 | I | See footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Tranche A WarrantsF1,F2 | $23.00 | holding | — | — | — | Sep 11, 2025 | Sep 11, 2035 | Common Stock | 982,371 | — | I |
| Tranche B WarrantsF1,F2 | $50.00 | holding | — | — | — | Sep 11, 2025 | Sep 11, 2035 | Common Stock | 470,889 | — | I |
| Delayed Draw Preferred Shares (obligation to buy)F1,F3 | $1,000.00 | holding | — | — | — | Sep 11, 2025 | Sep 11, 2027 | Series B Preferred Stock | 30,000 | — | I |
Explanation of responses
- F1Securities held of record by InspectionTech Holdings LP (the "Stellex SPV"). Michael Stewart and Raymond Whiteman are the managing members of Stellex Management Partners A LLC, which is the general partner of Stellex Management Partners A LP, which is the general partner of Stellex Partners III LP, which is the general partner of the Stellex SPV. As a result of these relationships, each of the foregoing entities may be deemed to share beneficial ownership of the securities held of record by the Stellex SPV.
- F2The warrants contain provisions preventing exercise if such exercise would result in the Stellex SPV beneficially owning greater than 4.99% of the Common Stock when aggregated with all other shares of Common Stock beneficially owned.
- F3Upon each issuance of 5,000 Delayed Draw Preferred Shares, the Issuer will issue to the Stellex SPV an additional 65,491 Tranche A Warrants (the "Additional Tranche A Warrants") and an additional 31,393 Tranche B Warrants (the "Additional Tranche B Warrants") on substantially similar terms as the warrants reported herein, except that upon each issuance of Delayed Draw Preferred Shares on or after December 10, 2025, any Additional Tranche A Warrants issued shall have an initial exercise price the lesser of (x) $30.00 and (y) 110% of the 30-day volume weighted average price of the Common Stock, subject to adjustments. Any Additional Tranche B Warrants issued shall have an initial exercise price of $50.00 per share, subject to adjustments.