TEAM INC — Director's Dealing 2012

Feb 16, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2012-02-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-14	Common Stock	M	4000	$4.50	Acquired	31986	Direct
2012-02-14	Common Stock	S	10000	$30.3543	Disposed	21986	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-14	Iso Stock Options	$4.50	M	4000	Disposed	2012-06-27	Common Stock (4000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$	2021-10-14	Common Stock (6360)	6360	Direct
Restricted Stock Units	$	2020-10-15	Common Stock (5043)	5043	Direct
Restricted Stock Units	$	2019-10-14	Common Stock (4110)	4110	Direct
Restricted Stock Units	$	2018-10-15	Common Stock (1688)	1688	Direct
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: This transaction was executed in multiple trades at prices ranging from $30.26 to $30.42. 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 10/15/2012, 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.

F5: 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.

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 10/14/2009, 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.