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Filing Details

Accession Number:: 0001127602-11-027498
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2011-10-18 20:25:23
Reporting Period:: 2011-10-14

Filing Date:: 2011-10-18
Accepted Time:: 2011-10-18 20:25:23
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
318833	Team Inc	TISI	Services-Miscellaneous Repair Services (7600)	741765729

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1095235	J Philip Hawk	200 Hermann Dr Alvin TX 77511	Ceo	Yes	Yes	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership
Common Stock	Acquisiton	2011-10-14	5,035	$0.00	396,864	No	4	M	Direct
Common Stock	Acquisiton	2011-10-15	5,599	$0.00	402,463	No	4	M	Direct
Common Stock	Acquisiton	2011-10-15	4,578	$0.00	407,041	No	4	M	Direct
Common Stock	Disposition	2011-10-17	20,000	$24.80	387,041	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership
No	4	M	Direct
No	4	M	Direct
No	4	M	Direct
No	4	S	Direct

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Restricted Stock Units	Acquisiton	2011-10-14	23,848	$0.00	23,848	$0.00
Common Stock	Restricted Stock Units	Disposition	2011-10-14	5,035	$0.00	5,035	$0.00
Common Stock	Restricted Stock Units	Disposition	2011-10-14	1,811	$0.00	1,811	$0.00
Common Stock	Restricted Stock Units	Disposition	2011-10-15	5,599	$0.00	5,599	$0.00
Common Stock	Restricted Stock Units	Disposition	2011-10-15	2,014	$0.00	2,014	$0.00
Common Stock	Restricted Stock Units	Disposition	2011-10-15	4,578	$0.00	4,578	$0.00
Common Stock	Restricted Stock Units	Disposition	2011-10-15	1,647	$0.00	1,647	$0.00

Remaning Holdings	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
23,848	2021-10-14	No	4	A	Direct
8,656	2018-10-15	No	4	M	Direct
6,845	2018-10-15	No	4	F	Direct
17,239	2019-10-14	No	4	M	Direct
15,225	2019-10-14	No	4	F	Direct
20,323	2020-10-15	No	4	M	Direct
18,676	2020-10-15	No	4	F	Direct

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Nq Stock Options	$30.33	2017-10-15	120,000	120,000	Direct
Common Stock	Nq Stock Options	$15.27	2016-10-17	120,000	120,000	Direct
Common Stock	Nq Stock Options	$13.28	2016-01-17	100,000	100,000	Direct
Common Stock	Nq Stock Options	$9.63	2015-08-17	46,000	46,000	Direct
Common Stock	Nq Stock Options	$9.23	2015-08-12	40,000	40,000	Direct
Common Stock	Iso Stock Options	$9.43	2015-05-13	4,000	4,000	Direct
Common Stock	Iso Stock Options	$9.57	2015-05-12	10,000	10,000	Direct
Common Stock	Iso Stock Options	$9.69	2015-05-11	10,000	10,000	Direct

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2017-10-15	120,000	120,000	Direct
2016-10-17	120,000	120,000	Direct
2016-01-17	100,000	100,000	Direct
2015-08-17	46,000	46,000	Direct
2015-08-12	40,000	40,000	Direct
2015-05-13	4,000	4,000	Direct
2015-05-12	10,000	10,000	Direct
2015-05-11	10,000	10,000	Direct

Footnotes

Represents vesting of restricted Stock Units and conversion to Team Common Stock.
This transaction was executed in multiple trades at prices ranging from $24.75 to $24.945. 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.
Stock Units convert on a 1-for-1 basis into shares of Team Common Stock.
Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments 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 upon achievement of the performance goal in accordance with the respective time vesting schedule.
Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments 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 upon achievement of the performance goal in accordance with the respective time vesting schedule.
Represents the portion of Stock Units withheld for income taxes prior to settlement in Common Stock.
Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments 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 upon achievement of the performance goal in accordance with the respective time vesting schedule.
Upon achievement of the annual performance goal established by the Compensation Committee, the Performance-Based Stock Units vest in 25% installments 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 upon achievement of the performance goal in accordance with the respective time vesting schedule.
Options are fully vested.