Form 4: Team Inc. Executive Chairman Reports Stock Transactions
SEC Form 4 Filing
Michael J. Caliel, Executive Chairman of Team Inc., reports the vesting and conversion of restricted stock units and subsequent tax withholding.
Summary
- On November 6, 2024, Michael J. Caliel, the Executive Chairman of Team Inc. (TISI), reported transactions involving Team Common Stock.
- He vested 31,172 Restricted Stock Units, which were then converted into Team Common Stock.
- 7,310 shares were withheld to satisfy tax obligations related to the vesting of the Restricted Stock Units.
- Following these transactions, Caliel directly owns 68,862 shares of Team Common Stock.
Sentiment
Score: 5
Explanation: This is a routine filing related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The vesting of restricted stock units dilutes existing shareholders' equity to a small degree.
- The transactions provide insight into the executive's holdings and alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 11/06/2024 | Date of vesting and conversion of Restricted Stock Units and tax withholding. |
| 11/08/2024 | Date of signature on the Form 4 filing. |
| 11/06/2033 | Expiration date of the Restricted Stock Units. |
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