TEAM INC — Director's Dealing 2011

Nov 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2011-11-14

Reporting Person: Wallace Peter W Jr (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-11-14	Common Stock	M	7000	$7.84	Acquired	15260	Direct
2011-11-14	Common Stock	S	7000	$25.16	Disposed	8260	Direct
2011-11-14	Common Stock	M	2000	$8.20	Acquired	10260	Direct
2011-11-14	Common Stock	S	2000	$25.16	Disposed	8260	Direct
2011-11-14	Common Stock	M	12000	$9.23	Acquired	20260	Direct
2011-11-14	Common Stock	S	12000	$25.16	Disposed	8260	Direct
2011-11-14	Common Stock	M	7000	$15.27	Acquired	15260	Direct
2011-11-14	Common Stock	S	7000	$25.16	Disposed	8260	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-11-14	Iso Stock Options	$7.84	M	7000	Disposed	2014-06-24	Common Stock (7000)	Direct
2011-11-14	Iso Stock Options	$8.20	M	2000	Disposed	2014-11-09	Common Stock (2000)	Direct
2011-11-14	Iso Stock Options	$9.23	M	12000	Disposed	2015-08-12	Common Stock (12000)	Direct
2011-11-14	Nq Stock Options	$15.27	M	7000	Disposed	2016-10-17	Common Stock (7000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Nq Stock Options	$30.33	2017-10-15	Common Stock (44000)	44000	Direct
Restricted Stock Units	$	2018-10-15	Common Stock (1688)	1688	Direct
Restricted Stock Units	$	2019-10-14	Common Stock (4110)	4110	Direct
Restricted Stock Units	$	2020-10-15	Common Stock (6164)	6164	Direct
Restricted Stock Units	$	2021-10-14	Common Stock (8347)	8347	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $25.00 to $25.33. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F2: Options are fully vested.

F3: Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.

F4: Stock Units vest 25% on 10/14/2009, 10/14/2010, 10/14/2011 and 10/15/2012, 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.

F5: Stock Units vest 25% on 10/15/2010, 10/15/2011, 10/15/2012 and 10/15/2013, 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.

F6: Stock Units vest 25% on 10/15/2011, 10/15/2012, 10/15/2013 and 10/15/2014, 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.

F7: Stock Units vest 25% on 10/15/2012, 10/15/2013, 10/15/2014, and 10/15/2015, 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.