TEAM INC — Director's Dealing 2013

Jan 15, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2013-01-10

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-01-10	Common Stock	M	20000	$15.27	Acquired	33179	Direct
2013-01-10	Common Stock	S	20000	$41.45	Disposed	13179	Direct
2013-01-10	Common Stock	M	35	$9.23	Acquired	13214	Direct
2013-01-10	Common Stock	S	35	$41.45	Disposed	13179	Direct
2013-01-11	Common Stock	M	4965	$9.23	Acquired	18144	Direct
2013-01-11	Common Stock	S	4965	$41.11	Disposed	13179	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-01-10	Nq Stock Options	$15.27	M	20000	Disposed	2016-10-17	Common Stock (20000)	Direct
2013-01-10	Iso Stock Options	$9.23	M	35	Disposed	2015-08-12	Common Stock (35)	Direct
2013-01-11	Iso Stock Options	$9.23	M	4965	Disposed	2015-08-12	Common Stock (4965)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5830	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$	2022-10-15	Common Stock (5565)	5565	Direct
Restricted Stock Units	$	2021-10-14	Common Stock (4920)	4920	Direct
Restricted Stock Units	$	2020-10-15	Common Stock (3362)	3362	Direct
Restricted Stock Units	$	2019-10-14	Common Stock (2055)	2055	Direct
Nq Stock Options	$30.33	2017-10-15	Common Stock (24000)	24000	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $41.15 to $42.71. 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: This transaction was executed in multiple trades at prices ranging from $41.05 to $41.53. 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: Represents estimated shares held in 401K Plan.

F4: Option 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 10/15/2013, 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.

F7: 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.

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 10/15/2010, 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.