Team (TISI) Form 3 TEAM / Robert James Young III ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Young Robert James III

(Last) (First) (Middle)

13131 DAIRY ASHFORD, SUITE 600

(Street)

SUGAR LAND TX 77478

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/18/2021

3. Issuer Name and Ticker or Trading Symbol
TEAM INC [ TISI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
President, AID

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	6,747	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	11/15/2028	Common Stock	2,083	0.0	D
Restricted Stock Units	(2)	11/15/2029	Common Stock	3,369	0.0	D
Restricted Stock Units	(3)	11/15/2030	Common Stock	5,770	0.0	D

Explanation of Responses:

1. Stock Units vest 25% on 11/15/2019, 11/15/2020, 11/15/2021 and 11/15/2022, 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. The remaining restricted stock units will vest as follows: 1,041 restricted stock units vest on 11/15/2021 and 1,042 restricted stock units vest on 11/15/2022.

2. Stock Units vest 25% on 11/15/2020, 11/15/2021, 11/15/2022 and 11/15/2023, 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. The remaining restricted stock units will vest as follows: 1,123 restricted stock units will vest on 11/15/2021, 11/15/2022, and 11/15/2023.

3. Stock Units vest one-third on 11/15/2021, 11/15/2022 and 11/15/2023, 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. The remaining restricted stock units will vest as follows: 1,924 restricted stock units will vest on 11/15/2021 and 1,923 restricted stock units will vest on 11/15/2022 and 11/15/2023.

Remarks:

	/s/ Robert J. Young III	01/28/2021
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.