Company: TISI
Filing Date: 2025-06-20
Form Type: 8-K
Source: 0000318833-25-000049
Chunk: 0

Company: TEAM INC
Filing Date: 2025-06-20
Form: 8-K
Item: Item 3.03
Chunk 0
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Item 3.03      Material Modification to Rights of Security Holders.  

Team, Inc. (the “ Company”) held its 2025 Annual Meeting of Shareholders on June 18, 2025 (the “ Annual Meeting”). At the Annual Meeting, as described below under Item 5.07, the Company’s shareholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation (the “ Charter Amendment”). The Charter Amendment has been filed with the Secretary of State of the State of Delaware and became effective upon filing on June 18, 2025. The Charter Amendment deleted language previously in Article VII, Section 5 of the Company’s Amended and Restated Certificate of Incorporation that specified when cause is deemed to exist in connection with the removal of directors. Such deleted language stated that “cause for removal shall be deemed to exist only if the director whose removal is proposed has been convicted of a felony by a court of competent jurisdiction or has been adjudged by a court of competent jurisdiction to be liable for gross negligence or misconduct in the performance of such director’s duty to the [Company] and such adjudication is no longer subject to direct appeal.”

The foregoing description of the Charter Amendment is a summary and is qualified in its entirety by the terms of the Charter Amendment, a copy of which is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated herein by reference.

  Item 5.03      Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.