Form 4: Team Inc. Executive Vice President Andre C. Bouchard Reports Stock Transactions
SEC Form 4 Filing
Executive Vice President and Chief Legal Officer of Team Inc., Andre C. Bouchard, reports the vesting and conversion of restricted stock units into common stock, along with shares withheld for tax obligations.
Summary
- Andre C. Bouchard, Executive Vice President and Chief Legal Officer of Team Inc., reported transactions involving the company's stock.
- On November 15, 2024, 8,721 restricted stock units vested and were converted into common stock.
- Also on November 15, 2024, 3,179 shares were withheld to cover tax obligations related to the vesting.
- On November 17 and 18, 2024, an additional 512 restricted stock units vested and were converted into common stock.
- A further 187 shares were withheld for tax obligations on November 17 and 18, 2024.
- Following these transactions, Mr. Bouchard directly owns 32,286 shares of common stock and indirectly owns 1,059 shares through a 401K plan.
Sentiment
Score: 7
Explanation: The document reflects standard executive compensation practices. There is no indication of positive or negative sentiment, it is a routine filing.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the vesting schedule of stock-based compensation.
Comparison to Industry Standards
- Stock-based compensation is a common practice across publicly traded companies, particularly for executive roles.
- The vesting schedule of one-third per year is a typical structure for restricted stock units.
- The withholding of shares to cover tax obligations is a standard procedure in these types of transactions.
- Similar filings are regularly made by executives at comparable companies such as Mistras Group, Acuren, and Applus, reflecting similar compensation structures.
Stakeholder Impact
- The transactions have a minor impact on the total number of outstanding shares.
- The vesting of stock units is part of the executive compensation package, which is of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| 11/15/2024 | 8,721 restricted stock units vested and converted to common stock; 3,179 shares withheld for taxes. |
| 11/17/2024 | 512 restricted stock units vested and converted to common stock; 187 shares withheld for taxes. |
| 11/18/2024 | Deemed execution date for the vesting of 512 restricted stock units and withholding of 187 shares for taxes. |
| 11/19/2024 | Date of signature for the SEC Form 4 filing. |
Keywords
stock, restricted stock units, insider trading, executive compensation, TEAM Inc, TISI, beneficial ownership, SEC Form 4
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