SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

WEATHERBIE ROBERT J

(Last)

(First)

(Middle)

PO BOX 402

(Street)

PAOLA

66071

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TEAM FINANCIAL INC /KS [ TFIN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman of the Board, CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2008

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, No Par Value								58,999	I	Spouse
Common Stock, No Par Value								340	I	Minor Children
Common Stock, No Par Value	08/13/2008		J⁽²⁾		112,503	D	$14.83⁽³⁾	0	I	ESOP
Common Stock, No Par Value	08/13/2008		J⁽²⁾		112,503	A	$14.83⁽³⁾	137,166	I	Self Directed IRA

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option	$8.94							12/31/2000	12/31/2009	Common Stock	20,000		20,000	D
Option	$8.94							⁽¹⁾	01/01/2010	Common Stock	15,000		35,000	D
Option	$6.625							12/31/2001	12/31/2010	Common Stock	15,000		50,000	D
Option	$6.625							⁽¹⁾	01/01/2011	Common Stock	15,000		65,000	D
Option	$8.32							⁽¹⁾	01/01/2012	Common Stock	15,000		80,000	D
Option	$10.1							12/31/2003	12/31/2012	Common Stock	4,000		84,000	D
Option	$10.1							⁽¹⁾	01/01/2013	Common Stock	15,000		99,000	D
Option	$12.41							⁽¹⁾	01/01/2014	Common Stock	15,000		114,000	D
Option	$12.194							⁽¹⁾	01/01/2015	Common Stock	15,000		129,000	D
Option	$14.3							⁽¹⁾	01/01/2016	Common Stock	15,000		144,000	D
Option	$15.97							⁽¹⁾	01/01/2017	Common Stock	15,000		159,000	D
Option	$14.81							⁽¹⁾	01/01/2018	Common Stock	15,000		174,000	D

Explanation of Responses:

1. Shares vest under these options in specified increments upon the reporting person and the company meeting specified financial and/or qualitative objectives and goals. To date, 105,000 shares have vested under these options.

2. Annual TFI ESOP Diversification transferred to Self-Directed IRA per election form

3. Annual TFI ESOP Diversification per election form

Remarks:

EXHIBIT 24.1 Power of Attorney

	/s/ Lois Rausch, by power of attorney	08/13/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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