TEAM INC — Director's Dealing 2012

Jan 10, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2012-01-06

Reporting Person: OWEN TED W (Executive Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-06	Common Stock	M	6754	$7.84	Acquired	49131	Direct
2012-01-06	Common Stock	F	1754	$30.1947	Disposed	47377	Direct
2012-01-06	Common Stock	M	10246	$7.84	Acquired	57623	Direct
2012-01-06	Common Stock	S	10246	$30.1947	Disposed	47377	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-06	Iso Stock Options	$7.84	M	6754	Disposed	2014-06-24	Common Stock (6754)	Direct
2012-01-06	Iso Stock Options	$7.84	M	10246	Disposed	2014-06-24	Common Stock (10246)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$	2021-10-14	Common Stock (8347)	8347	Direct
Restricted Stock Units	$	2020-10-15	Common Stock (6164)	6164	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 (10010)	10010	Direct

Footnotes

F1: Reflects 1,754 shares withheld by the issuer at the average market price of $30.1947 per share less an exercise price of $7.84 per share to fund the exercise of 6,754 options.

F2: This transaction was executed in multiple trades at prices ranging from $30.00 to $30.49. 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.

F3: Options are fully vested.

F4: Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.

F5: 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.

F6: 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.

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 10/14/2009, 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.