Team Inc SEC Filings

Team, Inc. reported third-quarter results and completed new financing arrangements. Revenue was $224,976 (up from $210,758 a year ago), producing operating income of $1,342 and a net loss of $(11,447). For the first nine months, revenue reached $671,657 with a net loss of $(45,431). Cash from operations was $(28,122) for the period.

On September 11, 2025, the company issued 75,000 shares of Series B Preferred Stock and 1,453,260 warrants for $75.0 million, using proceeds to repay portions of existing debt. It also amended debt facilities: the ABL commitment increased to $150.0 million with maturity extended to October 2, 2028 and reduced margins, and a $225.0 million First Lien Term Loan was established (initial $175.0 million drawn). Liquidity included $10.6 million of cash and $46.5 million of borrowing availability as of September 30, 2025. Shares outstanding were 4,527,240 as of November 10, 2025.

Team Inc. (TISI) reported insider equity activity by its CEO on 11/06/2025. 28,054 restricted stock units converted into common stock, and 11,385 shares were withheld at $15.86 to satisfy tax obligations. Following these transactions, the CEO beneficially owned 51,672 shares directly.

The RSU grant vests in thirds on 11/06/2024 and 11/06/2025, with the final third scheduled for 11/06/2026, at which time shares convert according to the plan’s terms.

Team Inc (TISI) reported an insider transaction by its Chief Financial Officer. On 11/06/2025, 18,703 restricted stock units vested and converted into common stock. To cover taxes, 6,986 shares were withheld at $15.86 per share. Following these transactions, the officer held 42,247 shares directly.

The RSUs vest in three tranches: one‑third on 11/06/2024, one‑third on 11/06/2025, and the remaining one‑third on 11/06/2026, with each RSU delivering one share upon vesting.

TEAM Inc (TISI) reported an initial statement of beneficial ownership on Form 3 for a Director. The reporting person indicated 0 shares of common stock beneficially owned in direct (D) form. The event date was 10/24/2025, and the filing was made by one reporting person. No derivative securities were listed. The form was signed by /s/ James C. Webster, Attorney-in-Fact, with a reference to Exhibit 24 (Power of Attorney).

Team, Inc. (TISI) director Michael David Stewart filed a Form 3 disclosing initial beneficial ownership. He indirectly holds 75,000 shares of Series B Preferred Stock through InspectionTech Holdings LP.

He also reports derivative interests: Tranche A Warrants for 982,371 shares of Common Stock at $23, and Tranche B Warrants for 470,889 shares at $50, each first exercisable on 09/11/2025 and expiring on 09/11/2035. The warrants include a 4.99% beneficial ownership cap on exercise.

In addition, there is an obligation to purchase 30,000 Delayed Draw Series B Preferred Shares at $1,000 per share, exercisable from 09/11/2025 to 09/11/2027. Upon each issuance of 5,000 delayed draw shares, the holder receives 65,491 additional Tranche A and 31,393 additional Tranche B warrants; for issuances on or after 12/10/2025, Additional Tranche A Warrants price at the lesser of $30.00 or 110% of the 30‑day VWAP, while Additional Tranche B Warrants price at $50.00.

TEAM, Inc. expanded its Board by appointing K. Niclas Ytterdahl as a Class I director and Michael Stewart as a Class III director, effective October 24, 2025. The Board size increased from seven to nine with these appointments. Ytterdahl’s term runs to the 2026 annual meeting; Stewart’s runs to the 2028 annual meeting. Ytterdahl will receive a $172,500 annual cash retainer; per a Shareholders Agreement, Stewart will not receive compensation. Ytterdahl joins the Audit and Corporate Governance & Nominating Committees; Stewart joins the Compensation Committee.

The Shareholders Agreement entitles Stellex to designate two independent nominees, with that number reduced if its ownership thresholds decline as described. The Board determined both appointees meet NYSE independence standards. Jeffery G. Davis will resign effective December 31, 2025, with no dispute cited, and the Board will decrease from nine to eight at that time. The Company named Michael J. Caliel non‑executive Chairman on October 24, 2025, and assigned J. Michael Anderson to chair the Compensation Committee effective January 1, 2026.

Team Inc (TISI) reported an insider equity award on a Form 4. The company’s EVP and Chief Legal Officer received 5,548 restricted stock units (RSUs) on 10/13/2025.

Each RSU represents the right to receive one share of Team Inc common stock. The RSUs were reported at a price of $0 and are held directly. The award vests in three equal installments, with one-third vesting on 10/1/2026, one-third on 10/1/2027, and one-third on 10/1/2028, subject to continued service through each date.

Team, Inc. filed an S-3 shelf registration describing a securities offering and incorporating prior SEC reports and exhibits by reference. The filing lists corporate governance documents (certificates of incorporation and bylaws), recently filed securities and agreements dated September 11, 2025 (including Forms of Common Stock Purchase Warrants and a Securities Purchase Agreement), and a Registration Rights Agreement with InspectionTech Holdings LP. The filing states the company is a smaller reporting company and may rely on reduced disclosure requirements. The business-description text references onstream and off-line industrial services, non-destructive testing, metallurgical and chemical processing, digital imaging, leak repair, emissions control, hot tapping, line stopping, valve insertion, field machining, bolted-joint integrity, and valve management solutions. The prospectus shows an itemized exhibit list and a small dollar line item of $6,371.80 in the document.