0001127602-19-002820.txt : 20190128 0001127602-19-002820.hdr.sgml : 20190128 20190128155414 ACCESSION NUMBER: 0001127602-19-002820 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190124 FILED AS OF DATE: 20190128 DATE AS OF CHANGE: 20190128 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Gatti Amerino CENTRAL INDEX KEY: 0001675255 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-08604 FILM NUMBER: 19545415 MAIL ADDRESS: STREET 1: 13131 DAIRY ASHFORD STREET 2: SUITE 600 CITY: SUGAR LAND STATE: TX ZIP: 77478 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: TEAM INC CENTRAL INDEX KEY: 0000318833 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS REPAIR SERVICES [7600] IRS NUMBER: 741765729 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 13131 DAIRY ASHFORD STREET 2: SUITE 600 CITY: SUGAR LAND STATE: TX ZIP: 77478 BUSINESS PHONE: 2813316154 MAIL ADDRESS: STREET 1: 13131 DAIRY ASHFORD STREET 2: SUITE 600 CITY: SUGAR LAND STATE: TX ZIP: 77478 4 1 form4.xml PRIMARY DOCUMENT X0306 4 2019-01-24 0000318833 TEAM INC TISI 0001675255 Gatti Amerino 13131 DAIRY ASHFORD, SUITE 600 SUGAR LAND TX 77478 1 1 CEO Common Stock 2019-01-24 4 M 0 52325 0 A 52325 D Performance Stock Units 2019-01-24 4 M 0 52325 0 D Common Stock 52325 297675 D Performance Stock Units 2019-01-24 4 F 0 17675 0 D Common Stock 17675 280000 D Performance stock units convert into common stock on a one-for-one basis. On January 24, 2018, the reporting person entered into a Performance Unit Award Agreement pursuant to which the reporting person was granted performance stock units ("PSU") covering 350,000 shares of Company common stock (the "Common Stock"). Each PSU represents a contingent right to receive one share of Common Stock. The PSUs vests in five equal installments based on the date on which each Common Stock price milestone specified in the Performance Unit Award Agreement 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). The Common Stock price milestone for the vesting of the first twenty percent (20%) installment (the "Initial Installment") was met on May 31, 2018, however, pursuant to the Performance Unit Award Agreement, the Initial Installment does not vest until the first anniversary of the grant date, subject to the reporting person's continued employment through such anniversary date. The performance, time and employment criteria for the Initial Installment were met on January 24, 2019, resulting in the vesting of the award as to 70,000 shares of Common Stock. Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock. /s/ Amerino Gatti 2019-01-28