# EDGAR Filing Document

**Accession Number:** 0000318833
**File Stem:** 0000318833-25-000049
**Filing Date:** 2025-6
**Character Count:** 10368
**Document Hash:** bd284cf09b0e02f9eb1e7b80363924ec
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000318833-25-000049.hdr.sgml**: 20250620

**ACCESSION NUMBER**: 0000318833-25-000049

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250618

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**FILED AS OF DATE**: 20250620

**DATE AS OF CHANGE**: 20250620

**FILER**: 

**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

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-08604
- **FILM NUMBER:** 251059857

**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

?xml version='1.0' encoding='ASCII'? tisi-20250618

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 OR 15(d) of** 

**The Securities Exchange Act of 1934**

**Date of report (Date of earliest event reported): June 18, 2025**

**TEAM, Inc.**

**(Exact Name of Registrant as Specified in its Charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **001-08604** | **74-1765729** |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission<br>File Number)** | **(IRS Employer<br>Identification No.)** |

---

**13131 Dairy Ashford, Suite 600**

**Sugar Land, Texas 77478**

**(Address of Principal Executive Offices and Zip Code)**

**Registrant's telephone number, including area code: (281) 331-6154**

**Not Applicable**

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

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| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CF 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

---

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Common Stock, $0.30 par value | TISI | New York Stock Exchange |

---

Indicate by check mark whether registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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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.

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| | |
|:---|:---|
| **Item 5.03** | **Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.** |

---

The information set forth above under Item 3.03 is incorporated herein by reference.

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| | |
|:---|:---|
| **Item 5.07** | **Submission of Matters to a Vote of Security Holders.** |

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The Company's shareholders considered four proposals at the Annual Meeting, each of which is described in more detail in the Company's Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on April 29, 2025. At the Annual Meeting, the nominees for election as directors set forth in Proposal One were each re-elected and Proposals Two through Four were each approved. The matters voted upon at the Annual Meeting and the results of the votes were as follows:

**<u>Proposal One: Election of Directors</u>**

The Company's shareholders elected two Class III directors to the Board of Directors of the Company (the "Board") to each serve for a three-year term expiring at the 2028 Annual Meeting of Shareholders or until their successors are duly elected and qualified.

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| | | | |
|:---|:---|:---|:---|
| **Nominee** | **Votes For** | **Withheld** | **Broker Non-Vote** |
| J. Michael Anderson | 2211421 | 57204 | 923321 |
| Jeffery G. Davis | 2211960 | 56665 | 923321 |

---

**<u>Proposal Two: Advisory Vote on Named Executive Officer Compensation</u>**

The Company's shareholders approved, on an advisory basis, named executive officer compensation for fiscal year 2025.

---

| | | | |
|:---|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** | **Broker Non-Vote** |
| 2,253,425 | 14,007 | 1,193 | 923,321 |

---

**<u>Proposal Three: Ratification of the Appointment of KPMG LLP as the Company's Independent Registered Public Accounting Firm for the Fiscal Year ending December 31, 2025</u>**

The Company's shareholders ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2025.

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| | | | |
|:---|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** | **Broker Non-Votes** |
| 3,180,197 | 10,434 | 1,315 | 0 |

---

**<u>Proposal Four: Approval of an amendment to the Company's Amended and Restated Certificate of Incorporation relating to removal of directors for cause</u>**

The Company's shareholders approved the Charter Amendment.

------

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| | | | |
|:---|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** | **Broker Non-Votes** |
| 2,246,502 | 21,462 | 661 | 923,321 |

---

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| | |
|:---|:---|
| **Exhibit number** | **Description** |
| 3.1 | <u>[Certificate of Amendment of Amended and Restated Certificate of Incorporation of Team, Inc.](a31charteramendmentonforca.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| **TEAM, Inc.** | **TEAM, Inc.** |
| By: | /s/ James C. Webster |
|  | James C. Webster |
|  | Executive Vice President, Chief Legal Officer and Secretary |

---

Dated: June 20, 2025

## Exhibit 3.1

**CERTIFICATE OF AMENDMENT**

**OF**

**AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF TEAM, INC.**

Team, Inc. (the "**Corporation**"), a corporation organized and existing under the General Corporation Law of the State of Delaware, hereby certifies as follows:

1. This Certificate of Amendment (this "**Certificate of Amendment**") amends the provisions of the Corporation's Amended and Restated Certificate of Incorporation filed with the Secretary of State of the State of Delaware on November 29, 2011 (as amended from time to time, the "**Certificate of Incorporation**").

2. The terms and provisions of this Certificate of Amendment have been duly adopted in accordance with Section 242 of the General Corporation Law of the State of Delaware.

3. Article VII, Section 5 of the Certificate of Incorporation is hereby amended and restated in its entirety as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. <u>Removal</u>. Except as otherwise required by law, a director of the Corporation may be removed only for cause, as determined by the affirmative vote of the holders of at least a majority of the shares then entitled to vote in an election of directors, voting as a single class, and which vote may only be taken at a meeting of stockholders (and not by written consent), the notice of which meeting expressly states such purpose.

4. All other provisions of the Certificate of Incorporation shall remain in full force and effect.

IN WITNESS WHEREOF, the Corporation has caused this Certificate of Amendment to be signed by James C. Webster, its Executive Vice President, Chief Legal Officer and Secretary, this 18th day of June, 2025.

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| | |
|:---|:---|
| By: | /s/ James C. Webster |
| Name: | James C. Webster |
| Title: | Executive Vice President, Chief Legal Officer and Secretary |

---

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