Welcome to our dedicated page for TEAM SEC filings (Ticker: TISI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Team, Inc. filings document a specialty industrial services issuer with NYSE-listed common stock and disclosure focused on operating results, governance and capital structure. Form 8-K reports furnish quarterly financial results and describe material events, including executive separation arrangements, board appointments, committee assignments and changes in director compensation.
TEAM’s regulatory record also includes definitive proxy materials covering annual meeting matters, director elections, executive compensation and pay-versus-performance tables. Capital-structure filings describe material definitive agreements, Series B Preferred Stock, warrants to purchase common stock and related shareholder-agreement terms tied to the company’s financing activity.
Corre-linked investors disclosed coordinated holdings and voting support in TEAM INC. The filing shows several Corre funds and advisors collectively beneficially own 1,587,296 shares, representing 35.282% of common stock. On September 11, 2025, TEAM entered into a Purchase Agreement with an affiliate of Stellex and the Corre Holders entered a Support Agreement agreeing to vote for issuance of 65,491 Tranche A Warrants and 31,393 Tranche B Warrants (the "Additional Warrants") and to refrain from transfers subject to limited exceptions. The Support Agreement contains defined termination events including completion of the shareholder vote, expiration of warrant commitments, certain uncured breaches and September 30, 2026. The filing attaches the Support Agreement as Exhibit 99.1.
Team, Inc. disclosed a package of financing and governance documents dated September 11, 2025, that together change its capital and control arrangements. The filing lists a Certificate of Designation for Series B Preferred Stock, multiple Common Stock Purchase Warrants (including two warrants issued to InspectionTech Holdings LP and language specifying an $50.00 initial exercise price for Additional Tranche B Warrants), and a Securities Purchase Agreement with named purchasers. The company also filed a Shareholders Agreement, a Registration Rights Agreement, and a Voting and Support Agreement involving Corre-related funds and InspectionTech Holdings LP.
The filing shows amendments to three separate credit facilities (including first amendments to two term loan agreements and a seventh amendment to another credit agreement), a press release and an interactive cover page iXBRL file. The document states the Corre Holders hold approximately 35% of outstanding voting power without counting shares issuable from their warrants, and it references a 30-day volume weighted average price as an adjustment metric for warrant exercise pricing.
Pamela J. McGinnis, a director of Team, Inc. (TISI), reported purchases of common stock on August 15, 18 and 19, 2025. She acquired 602 shares on 08/15/2025 at a weighted average price of $19.49, 160 shares on 08/18/2025 at $18.91, and 570 shares on 08/19/2025 at $18.95, bringing her total reported beneficial ownership to 1,332 shares held directly. The filing discloses that each reported price is a weighted average across multiple transactions within the ranges noted in the footnotes.
Team, Inc. filed a Form 8-K to furnish a press release announcing its unaudited financial results for the first quarter ended March 31, 2025. The press release, dated August 12, 2025, is attached as Exhibit 99.1 and incorporated by reference into this report.
The company specifies that the information under Item 2.02, including Exhibit 99.1, is being furnished rather than filed, so it is not subject to liability under Section 18 of the Exchange Act and will not be automatically incorporated into other Securities Act or Exchange Act filings. The filing also includes Exhibit 104, the cover page interactive data file embedded within the Inline XBRL document.
Team, Inc. reported consolidated revenue of $248.0 million for the quarter ended June 30, 2025, up 8.5% from $228.6 million a year earlier, driven by a 15.2% increase in its Inspection and Heat Treating (IHT) segment and modest growth in Mechanical Services (MS). Operating income was $12.1 million for the quarter (versus $11.2 million prior-year), and consolidated adjusted EBITDA rose to $24.5 million from $21.8 million, showing improved operating performance when excluding identified non-core items.
Despite revenue gains, the company reported a net loss of $4.3 million for the quarter and a year-to-date net loss of $34.0 million, reflecting higher non-operating charges including $11.9 million loss on debt extinguishment recorded in the six months. Total long-term debt and finance lease obligations were $370.2 million as of June 30, 2025. Liquidity included $16.6 million unrestricted cash and approximately $32.7 million available borrowing capacity, and management stated covenant compliance as of that date.
Team Inc (TISI) has filed an 8-K/A to correct a significant error in their previous filing regarding the voting results from their June 18, 2025 Annual Meeting. The amendment addresses two key issues:
The company initially reported that shareholders had approved a Charter Amendment to modify Article VII, Section 5 regarding director removal provisions. However, this was incorrect - the proposal did not receive the required two-thirds majority vote and was therefore not approved.
Key actions taken:
- On June 24, 2025, Team filed a Certificate of Correction with Delaware Secretary of State to nullify the previously filed Charter Amendment
- The company's original Amended and Restated Certificate of Incorporation (from 2011, with amendments from 2013 and 2022) remains in effect
- The correction means no changes were made to the provisions specifying when "cause" exists for director removal
Team CFO Nelson M. Haight reported significant stock transactions on June 21, 2025. The filing reveals two key transactions:
- Acquisition of 8,720 shares of common stock at $0 through the conversion of derivative securities (Transaction Code: M)
- Disposition of 3,179 shares of common stock at $0, likely for tax withholding purposes (Transaction Code: F)
Following these transactions, Haight directly owns 30,530 shares of Team common stock. The transactions occurred at the company's Sugar Land, TX headquarters. This Form 4 filing, submitted on June 23, 2025, reflects changes in the CFO's beneficial ownership position and complies with SEC Section 16(a) reporting requirements.