TEAM INC — Director's Dealing 2011

Oct 19, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2011-10-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-14	Common Stock	M	1242	—	Acquired	5238	Direct
2011-10-15	Common Stock	M	1512	—	Acquired	6750	Direct
2011-10-15	Common Stock	M	1510	—	Acquired	8260	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-10-14	Restricted Stock Units	$	A	8347	Acquired	2021-10-14	Common Stock (8347)	Direct
2011-10-14	Restricted Stock Units	$	M	1242	Disposed	2018-10-15	Common Stock (1242)	Direct
2011-10-14	Restricted Stock Units	$	F	447	Disposed	2018-10-15	Common Stock (447)	Direct
2011-10-15	Restricted Stock Units	$	M	1512	Disposed	2019-10-14	Common Stock (1512)	Direct
2011-10-15	Restricted Stock Units	$	F	544	Disposed	2019-10-14	Common Stock (544)	Direct
2011-10-15	Restricted Stock Units	$	M	1510	Disposed	2020-10-15	Common Stock (1510)	Direct
2011-10-15	Restricted Stock Units	$	F	544	Disposed	2020-10-15	Common Stock (544)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Nq Stock Options	$30.33	2017-10-15	Common Stock (44000)	44000	Direct
Nq Stock Options	$15.27	2016-10-17	Common Stock (7000)	7000	Direct
Iso Stock Options	$9.23	2015-08-12	Common Stock (12000)	12000	Direct
Iso Stock Options	$8.20	2014-11-09	Common Stock (2000)	2000	Direct
Iso Stock Options	$7.84	2014-06-24	Common Stock (7000)	7000	Direct

Footnotes

F1: Represents vesting of restricted Stock Units and conversion of Team Common Stock.

F2: Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.

F3: 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.

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: Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.

F6: 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.

F7: 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.

F8: Options are fully vested.