TEAM INC — Director's Dealing 2015

Sep 1, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TEAM INC (TISI)
CIK: 0000318833
Period of Report: 2015-08-31

Reporting Person: Ott Jeffrey L (President, Quest Integrity Grp)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-08-31	Common Stock	J	296080	—	Acquired	300030	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$	2024-10-15	Common Stock (5222)	5222	Direct
Restricted Stock Units	$	2023-10-15	Common Stock (3813)	3813	Direct
Restricted Stock Units	$	2022-10-15	Common Stock (457)	457	Direct
Restricted Stock Units	$	2021-10-14	Common Stock (249)	249	Direct

Footnotes

F1: On November 2, 2010, as partial consideration for their respective Membership Interests in Quest Integrity Group, LLC ("Quest Integrity"), the Class B Stockholders of TQ Acquisition, Inc. ("TQA"), including the Reporting Person, received Class B common stock of TQA (the "Class B Stock") and entered into a Put/Call Option Agreement with the Issuer, which provides for the issuance of restricted shares of the Issuer's common stock in the event either the Issuer calls the Class B Stock for redemption or the Class B Stockholders put the Class B Stock to the Issuer for purchase. On June 2, 2015, the Issuer called the Class B Stock for redemption. The exercise price was determined pursuant to the terms of the Put-Call Agreement, as disclosed in the Issuer's Form 8-K filed with the SEC on November 3, 2010.

F2: Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.

F3: Stock Units vest 25% on 11/4/2015, 10/15/2016, 10/15/2017 and 10/15/2018, unless earlier terminated in accordance with the Plan. Stock Units will automatically be converted into shares of Common Stock in accordance with the repective vesting schedule.

F4: Stock Units vest 25% on 10/15/2014, 10/15/2015, 10/15/2016 and 10/15/2017, 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 10/15/2013, 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.

F6: 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.