TEAM INC — Director's Dealing 2012

Oct 18, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: Palmore David C (Sr. Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-10-15	Common Stock	M	1241	—	Acquired	9227	Direct
2012-10-15	Common Stock	M	1511	—	Acquired	10738	Direct
2012-10-15	Common Stock	M	1236	—	Acquired	11974	Direct
2012-10-15	Common Stock	M	1205	—	Acquired	13179	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-10-15	Restricted Stock Units	$	A	5565	Acquired	2022-10-15	Common Stock (5565)	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	1205	Disposed	2021-10-14	Common Stock (1205)	Direct
2012-10-15	Restricted Stock Units	$	F	434	Disposed	2021-10-14	Common Stock (434)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5830	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

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: Option are fully vested.