# EDGAR Filing Document

**Accession Number:** 0000318833
**File Stem:** 0001493152-25-020602
**Filing Date:** 2025-11
**Character Count:** 6921
**Document Hash:** 48ec3a1dff278596689ba9f74e26eb49
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-25-020602.hdr.sgml**: 20251103

**ACCESSION NUMBER**: 0001493152-25-020602

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251024

**FILED AS OF DATE**: 20251103

**DATE AS OF CHANGE**: 20251103

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Stewart Michael David
- **CENTRAL INDEX KEY:** 0002090373

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08604
- **FILM NUMBER:** 251444572

**MAIL ADDRESS:**
- **STREET 1:** 900 THIRD AVENUE, 25TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TEAM INC
- **CENTRAL INDEX KEY:** 0000318833
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MISCELLANEOUS REPAIR SERVICES [7600]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 741765729
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 13131 DAIRY ASHFORD
- **STREET 2:** SUITE 600
- **CITY:** SUGAR LAND
- **STATE:** TX
- **ZIP:** 77478
- **BUSINESS PHONE:** 2813316154

**MAIL ADDRESS:**
- **STREET 1:** 13131 DAIRY ASHFORD
- **STREET 2:** SUITE 600
- **CITY:** SUGAR LAND
- **STATE:** TX
- **ZIP:** 77478

## Ex-24

**Exhibit 24**

**LIMITED POWER OF ATTORNEY**

The undersigned, Michael Stewart, hereby constitutes and appoints James C. Webster, as the true and lawful Attorney-In-Fact for the undersigned to exercise the authority and power and do any and all things necessary or appropriate for and on behalf of the undersigned, in the judgment of said Attorney-In-Fact, to prepare, sign, and file Form 3, Form 4, and Form 5 in accordance with Section 16 of the Securities Exchange Act of 1934, as amended, and the rules thereunder for and on behalf of the undersigned required to be filed with the United States Securities and Exchange Commission regarding the securities of Team, Inc.

IN WITNESS WHEREOF, the undersigned has set forth his or her signature below effective the 24th day of October, 2025.

---

| | |
|:---|:---|
| By: | /s/ Michael Stewart |
|  | Michael Stewart |

---

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

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Stewart Michael David<br><sub>(Last) (First) (Middle)</sub><br>13131 DAIRY ASHFORD, SUITE 600<br><sub>(Street)</sub><br>SUGAR LAND, TX 77478<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>TEAM INC [ TISI ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2025-10-24 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director   [ ] 10% Owner<br>[ ] Officer (give title below)   [ ] Other (specify below)<br>_ _ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Series B Preferred Stock | 75000 | I | By InspectionTech Holdings LP<sup>(1)</sup> |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| Tranche A Warrants | 2025-09-11 | 2035-09-11 | Common Stock | 982371<sup>(2)</sup> | $23 | I | By InspectionTech Holdings LP<sup>(1)</sup> |
| Tranche B Warrants | 2025-09-11 | 2035-09-11 | Common Stock | 470889<sup>(2)</sup> | $50 | I | By InspectionTech Holdings LP<sup>(1)</sup> |
| Delayed Draw Preferred Shares (obligation to buy) | 2025-09-11 | 2027-09-11 | Series B Preferred Stock<sup>(3)</sup> | 30000<sup>(3)</sup> | $1000 | I | By InspectionTech Holdings LP<sup>(1)</sup> |

---

### Footnotes:

(1) InspectionTech Holdings LP (the "Stellex SPV") is an affiliate of Stellex Capital Management LLC, of which the Reporting Person is a managing member. As a result of this relationship, the Reporting Person may be deemed to have investment and voting control over the securities held of record by the Stellex SPV.

(2) The warrants contain provisions preventing exercise if such exercise would result in the Stellex SPV beneficially owning greater than 4.99% of the Common Stock when aggregated with all other shares of Common Stock beneficially owned.

(3) Upon each issuance of 5,000 Delayed Draw Preferred Shares, the Issuer will issue to Stellex SPV an additional 65,491 Tranche A Warrants (the "Additional Tranche A Warrants") and an additional 31,393 Tranche B Warrants (the "Additional Tranche B Warrants") on substantially similar terms as the warrants reported herein, except that upon each issuance of Delayed Draw Preferred Shares on or after December 10, 2025, any Additional Tranche A Warrants issued shall have an initial exercise price the lesser of (x) $30.00 and (y) 110% of the 30-day volume weighted average price of the Common Stock, subject to adjustments. Any Additional Tranche B Warrants issued shall have an initial exercise price of $50.00 per share, subject to adjustments.

**Remarks:**
Exhibit 24 - Power of Attorney.

**Signature:** /s/ Michael David Stewart  
**Date:** 2025-11-03

### Remarks:

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 4 (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.**