TEAM INC — Director's Dealing 2012

Oct 17, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2012-10-15

Reporting Person: KEARNS JOHN P (Sr. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-15	Common Stock	M	1241	—	Acquired	23227	Direct
2012-10-15	Common Stock	M	1511	—	Acquired	24738	Direct
2012-10-15	Common Stock	M	1236	—	Acquired	25974	Direct
2012-10-15	Common Stock	M	1169	—	Acquired	27143	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-15	Restricted Stock Units	$	A	5352	Acquired	2022-10-15	Common Stock (5352)	Direct
2012-10-15	Restricted Stock Units	$	M	1241	Disposed	2018-10-15	Common Stock (1241)	Direct
2012-10-15	Restricted Stock Units	$	F	447	Disposed	2018-10-15	Common Stock (447)	Direct
2012-10-15	Restricted Stock Units	$	M	1511	Disposed	2019-10-14	Common Stock (1511)	Direct
2012-10-15	Restricted Stock Units	$	F	544	Disposed	2019-10-14	Common Stock (544)	Direct
2012-10-15	Restricted Stock Units	$	M	1236	Disposed	2020-10-15	Common Stock (1236)	Direct
2012-10-15	Restricted Stock Units	$	F	445	Disposed	2020-10-15	Common Stock (445)	Direct
2012-10-15	Restricted Stock Units	$	M	1169	Disposed	2021-10-14	Common Stock (1169)	Direct
2012-10-15	Restricted Stock Units	$	F	421	Disposed	2021-10-14	Common Stock (421)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6981	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Nq Stock Options	$30.33	2017-10-15	Common Stock (24000)	24000	Direct
Nq Stock Options	$15.27	2016-10-17	Common Stock (20000)	20000	Direct
Nq Stock Options	$9.23	2015-08-12	Common Stock (128)	128	Direct
Iso Stock Options	$9.23	2015-08-12	Common Stock (29872)	29872	Direct
Iso Stock Options	$7.84	2014-06-24	Common Stock (16000)	16000	Direct
Iso Stock Options	$4.13	2013-06-26	Common Stock (8000)	8000	Direct

Footnotes

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

F2: Represents estimated shares held in 401K Plan.

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

F4: Stock Units vest 25% on 10/15/2013, 10/15/2014, 10/15/2015 and 10/15/2016, 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 10/14/2009, 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.

F6: Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.

F7: 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.

F8: 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.

F9: 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.

F10: Options are fully vested.