We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Team Inc | NYSE:TISI | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.05 | 0.72% | 6.97 | 7.10 | 6.93 | 6.93 | 3,949 | 21:00:07 |
Delaware | 001-08604 | 74-1765729 | ||||||||||||
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
¨ | 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)) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Common Stock, $0.30 par value | TISI | New York Stock Exchange | ||||||
Preferred Stock Purchase Rights | N/A | New York Stock Exchange |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Base Salary: | $450,000 | ||||
Annual Cash Bonus: | For 2022, the target will be 75% of base salary, with a maximum opportunity of 150% of base salary based on performance goals established by the Compensation Committee of the Company’s Board of Directors, prorated for the period employed. For the 2022 calendar year the Annual Bonus will be guaranteed at minimum of $150,000 subject to continued employment with the Company pursuant to the terms of the offer letter through March 31, 2023. | ||||
Sign-On Bonus: | A one-time sign-on bonus of $25,000, payable within 60 days of Mr. Haight’s start date. | ||||
Annual Equity Award: | Long-term incentive opportunity of $450,000 in the form of a one-time restricted stock unit award with respect to such number of shares of the Company’s common stock as is determined based on the grant date closing price, vesting ratably over a three-year period, subject to continued employment with the Company at vesting. | ||||
Severance Benefits: | Mr. Haight will be eligible to participate in the Company’s executive severance policy (which includes customary non-compete and release requirements), as in effect from time to time. In case of involuntary termination by the Company without cause or voluntary termination of employment for good reason, Mr. Haight will be entitled to receive continued salary for 12 months (except that for a period of one year from his start date Mr. Haight would be entitled to receive continued salary for 15 months under such circumstances) . In case such involuntary termination without cause or voluntary termination with good reason occurs within 90 days prior or within 360 days after a change of control, Mr. Haight would be entitled to a single lump sum payment equal to 24 months of annual base salary plus an amount equal to the higher of the most recent paid bonus or the average bonus paid for the prior three years | ||||
Start date: | June 13, 2022. |
Item 7.01 | Regulation FD Disclosure |
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 | ||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
TEAM, Inc. | ||||||||
By: | /s/ André C. Bouchard | |||||||
André C. Bouchard | ||||||||
Executive Vice President, Administration, Chief Legal Officer and Secretary |
1 Year Team Chart |
1 Month Team Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions