TEAM INC — Director's Dealing 2012

Nov 13, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2012-11-09

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-09	Common Stock	M	300	$4.13	Acquired	17443	Direct
2012-11-09	Common Stock	S	300	$32.0266	Disposed	17143	Direct
2012-11-12	Common Stock	M	7700	$4.13	Acquired	24843	Direct
2012-11-12	Common Stock	S	7700	$32.106	Disposed	17143	Direct
2012-11-12	Common Stock	M	16000	$7.84	Acquired	33143	Direct
2012-11-12	Common Stock	S	16000	$32.016	Disposed	17143	Direct
2012-11-12	Common Stock	M	29872	$9.23	Acquired	47015	Direct
2012-11-12	Common Stock	S	29872	$32.106	Disposed	17143	Direct
2012-11-12	Common Stock	M	128	$9.23	Acquired	17271	Direct
2012-11-12	Common Stock	S	128	$32.106	Disposed	17143	Direct
2012-11-12	Common Stock	M	20000	$15.27	Acquired	37143	Direct
2012-11-12	Common Stock	S	20000	$32.106	Disposed	17143	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-09	Iso Stock Options	$4.13	M	300	Disposed	2013-06-26	Common Stock (300)	Direct
2012-11-12	Iso Stock Options	$4.13	M	7700	Disposed	2013-06-26	Common Stock (7700)	Direct
2012-11-12	Iso Stock Options	$7.84	M	16000	Disposed	2014-06-24	Common Stock (16000)	Direct
2012-11-12	Iso Stock Options	$9.23	M	29872	Disposed	2015-08-12	Common Stock (29872)	Direct
2012-11-12	Nq Stock Options	$9.23	M	128	Disposed	2015-08-12	Common Stock (128)	Direct
2012-11-12	Nq Stock Options	$15.27	M	20000	Disposed	2016-10-17	Common Stock (20000)	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
Restricted Stock Units	$	2019-10-14	Common Stock (2055)	2055	Direct
Restricted Stock Units	$	2020-10-15	Common Stock (3362)	3362	Direct
Restricted Stock Units	$	2021-10-14	Common Stock (4770)	4770	Direct
Restricted Stock Units	$	2022-10-15	Common Stock (5352)	5352	Direct

Footnotes

F1: This transaction was executed in mulitiple trades at prices ranging from $32.00 - $32.36. 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 reqgarding the number of shares and prices at which the transaction was effected.

F2: This transaction was executed in multiple trades at prices ranging from $32.00 - $32.36. 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 trasaction was effected.

F3: Represents estimated shares held in 401K Plan.

F4: Options are fully vested.

F5: Stock Units convert on a 1-for-1 basis into shares of Team 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: 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.

F9: 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.