Form Type: 4

SEC EDGAR Link
Accession Number:0001127602-19-033169
Date:2019-11-15
Issuer: TEAM INC (TISI)
Original Submission Date:

Reporting Person:

GATTI AMERINO
13131 DAIRY ASHFORD, SUITE 600
SUGAR LAND, TX 77478

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2019-11-15 M 3,367 a $0.00 55,692 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
RESTRICTED STOCK UNITS 0.0 2019-11-15 deemed execution date A 49,102 (a) 2029-11-15 common stock 49,102 $0.00 49,102 direct
RESTRICTED STOCK UNITS 0.0 2019-11-15 deemed execution date M 3,367 (d) 2028-11-15 common stock 3,367 $0.00 18,843 direct
RESTRICTED STOCK UNITS 0.0 2019-11-15 deemed execution date F 2,185 (d) 2028-11-15 common stock 2,185 $0.00 16,658 direct
PERFORMANCE STOCK UNITS 0.0 2019-11-15 deemed execution date 0 ( ) 2023-01-24 2023-01-24 common stock 280,000 $0.00 280,000 direct
Footnotes
IDfootnote
f1 stock units convert on a 1-for-1 basis into shares of team common stock.
f2 stock units vest 25% on 11/15/20, 11/15/21, 11/15/22 and 11/15/23, 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.
f3 stock 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.
f4 represents the portion of stock units withheld for income taxes prior to settlement in common stock.
f5 each 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.
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