0000318833-21-000126.txt : 20211006 0000318833-21-000126.hdr.sgml : 20211006 20211006081601 ACCESSION NUMBER: 0000318833-21-000126 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20210930 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20211006 DATE AS OF CHANGE: 20211006 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TEAM INC CENTRAL INDEX KEY: 0000318833 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS REPAIR SERVICES [7600] IRS NUMBER: 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: 211308846 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 8-K 1 tisi-20210930.htm 8-K tisi-20210930
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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): September 30, 2021
 
 TEAM, Inc.
(Exact Name of Registrant as Specified in its Charter)
  
Delaware 001-08604 74-1765729
(State or Other Jurisdiction
of Incorporation)
 (Commission
File Number)
 (IRS Employer
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: 
¨
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:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.30 par valueTISINew 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.
¨



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On September 30, 2021, Susan Ball, Executive Vice President and Chief Financial Officer of Team, Inc. (the “Company”) informed the Company of her intention to resign from the Company for personal reasons effective as of November 12, 2021. Ms. Ball’s resignation is not a result of any disagreements with the Company or the Board of Directors relating to the operations, policies or practices of the Company or any issues regarding its accounting policies or practices. The Company has commenced a search process with the assistance of a national executive search firm to identify Ms. Ball’s successor. It is expected that the Company and Ms. Ball will enter into a consulting agreement pursuant to which Ms. Ball will serve as a financial advisor and consultant to the Company to support the Company in the transition process, including the search for her replacement.





Item 9.01. Financial Statements and Exhibits

(d)        Exhibits. The following exhibit is furnished as part of Item 5.02 of this Current Report on Form 8-K:

Exhibit number Description
99.1
104Cover Page Interactive Data File (embedded within the Inline XBRL document)








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.
 
TEAM, Inc.
By:/s/ André C. Bouchard
André C. Bouchard
Executive Vice President, Chief Legal Officer and Secretary
Dated: October 6, 2021



EX-99.1 2 ex991pressrelease.htm EX-99.1 Document
Exhibit 99.1
teama32.jpg
NEWS RELEASE

FOR IMMEDIATE RELEASE

TEAM, INC. ANNOUNCES CFO, SUSAN BALL, WILL STEP DOWN
IN NOVEMBER 2021

Nationally recognized executive search firm has been retained

SUGAR LAND, TX, Oct. 6, 2021 – Team, Inc. (“TEAM”) (NYSE: TISI), a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions, today announced that Susan Ball, Executive Vice President and Chief Financial Officer, has informed the company of her intention to step down, effective November 12, 2021 for personal reasons. Ms. Ball has committed to continue her current role over the next six weeks and agreed to then serve as a financial advisor and consultant to TEAM to support an orderly transition process, including the search for her replacement.

Ms. Ball joined TEAM in December 2018 as Executive Vice President and Chief Financial Officer. She played an important role as the company scaled up its OneTEAM program and was influential in helping TEAM overcome the many challenges caused by the COVID-19 pandemic. Her resignation is not a result of any disagreements with TEAM or the Board of Directors relating to the operations, policies or practices of TEAM or any issues regarding its accounting policies or practices. TEAM has commenced a formal search for a new Chief Financial Officer, retaining a national executive search firm to support the process.

Amerino Gatti, TEAM’s Chairman and Chief Executive Officer, said, “On behalf of the board of directors and the executive leadership team, I want to extend our sincerest gratitude to Susan for her many valuable contributions to the company, especially for her efforts during the pandemic. On a personal note, I would like to thank Susan for her leadership and partnership – and wish her and her family well in the future.”

Ms. Ball, said, “It has been a pleasure to serve as the CFO of TEAM and I am grateful for the opportunity to work alongside Amerino and as part of his executive leadership team. I look forward to supporting a smooth transition over the next few months and would like to thank TEAM’s employees, clients and stockholders for making my time at the company a great experience.”


About Team, Inc.

Headquartered in Sugar Land, Texas, Team Inc. (NYSE: TISI) is a global leading provider of integrated, digitally-enabled asset performance assurance and optimization solutions. We deploy conventional to highly specialized inspection, condition assessment, maintenance and repair services that result in greater safety, reliability and operational efficiency for our client’s most



critical assets. Through locations in more than 20 countries, we unite the delivery of technological innovation with over a century of progressive, yet proven integrity and reliability management expertise to fuel a better tomorrow. For more information, please visit www.teaminc.com.

Contact:
Kevin Smith
Senior Director, Investor Relations
(281) 388-5551
###

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DE 001-08604 74-1765729 13131 Dairy Ashford Suite 600 Sugar Land TX 77478 281 281 331-6154 false false false false Common Stock, $0.30 par value TISI NYSE false XML 8 R1.htm IDEA: XBRL DOCUMENT v3.21.2
Document and Entity Information
Sep. 30, 2021
Cover [Abstract]  
Document Type 8-K
Document Period End Date Sep. 30, 2021
Entity Registrant Name TEAM, Inc.
Entity Incorporation, State or Country Code DE
Entity File Number 001-08604
Entity Tax Identification Number 74-1765729
Entity Address, Address Line One 13131 Dairy Ashford
Entity Address, Address Line Two Suite 600
Entity Address, City or Town Sugar Land
Entity Address, State or Province TX
Entity Address, Postal Zip Code 77478
City Area Code 281
Local Phone Number 331-6154
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $0.30 par value
Trading Symbol TISI
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000318833
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