Company: TISI
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000318833-25-000030
Chunk: 57

Company: TEAM INC
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 57
---
2. Includes approximately 815 shares indirectly held through a Company stock fund in the 401(k) plan. Excludes 56,109 shares underlying unvested RSUs which will vest one-half on November 6, 2025 and 2026, unless earlier terminated.

3. Excludes 8,720 shares underlying unvested RSUs which vest on June 21, 2025 and 37,406 shares underlying RSUs which will vest one-half on November 6, 2025 and 2026, each unless earlier terminated.

4. Mr. Bouchard resigned as Executive Vice President, Administration, Chief Legal Officer and Secretary effective January 18, 2025. Beneficial ownership information is based on information contained in the last Form 4 filed by Mr. Bouchard with the SEC prior to January 18, 2025, and additional information provided by Mr. Bouchard, adjusted to give effect to subsequent transactions of which we are aware in connection with employment-related equity awards. Excludes 8,720 shares underlying unvested restricted stock units which vest on November 15, 2025 pursuant to a continued vesting approved by the Compensation Committee.

5. Includes 815 shares held in an employee benefit plan.

6. The number of shares consists solely of shares issuable upon exercise of that certain Second Amended and Restated Warrant No. 1 (the “Second A&R AP Warrant”). Pursuant to the terms of the Second A&R AP Warrant, the holder is not permitted to exercise such warrant to the extent that such exercise would result in the holder and its affiliates and any other persons or entities whose beneficial ownership of our Common Stock would be aggregated with such holder for purposes of Section 13(d) of the Exchange Act, beneficially owning more than 19.99% of the number of shares of our Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock issuable upon exercise of such warrants. For purposes of the 19.99% beneficial ownership exercise restriction, beneficial ownership is determined in accordance with Section 13(d) of the Exchange Act and the rules and regulation promulgated thereunder. The business address of APSC Holdco II, L.P. is c/o Iron Park Capital Partners L.P., 535 Madison Avenue, 31st Floor, New York, NY 10022. Atlantic Park Strategic Capital Parallel Master Fund, L.P. is the sole beneficial owner of APSC Holdco II, L