Michael David Stewart - 24 Oct 2025 Form 3 Insider Report for TEAM INC (TISI)

Role
Director
Signature
/s/ Michael David Stewart
Issuer symbol
TISI
Transactions as of
24 Oct 2025
Net transactions value
$0
Form type
3
Filing time
03 Nov 2025, 16:30:17 UTC
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Stewart Michael David Director 13131 DAIRY ASHFORD, SUITE 600, SUGAR LAND /s/ Michael David Stewart 03 Nov 2025 0002090373

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding TISI Series B Preferred Stock 75,000 24 Oct 2025 By InspectionTech Holdings LP F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding TISI Tranche A Warrants 24 Oct 2025 Common Stock 982,371 $23.00 By InspectionTech Holdings LP F1, F2
holding TISI Tranche B Warrants 24 Oct 2025 Common Stock 470,889 $50.00 By InspectionTech Holdings LP F1, F2
holding TISI Delayed Draw Preferred Shares (obligation to buy) 24 Oct 2025 Series B Preferred Stock 30,000 $1000.00 By InspectionTech Holdings LP F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 InspectionTech Holdings LP (the "Stellex SPV") is an affiliate of Stellex Capital Management LLC, of which the Reporting Person is a managing member. As a result of this relationship, the Reporting Person may be deemed to have investment and voting control over the securities held of record by the Stellex SPV.
F2 The warrants contain provisions preventing exercise if such exercise would result in the Stellex SPV beneficially owning greater than 4.99% of the Common Stock when aggregated with all other shares of Common Stock beneficially owned.
F3 Upon each issuance of 5,000 Delayed Draw Preferred Shares, the Issuer will issue to Stellex SPV an additional 65,491 Tranche A Warrants (the "Additional Tranche A Warrants") and an additional 31,393 Tranche B Warrants (the "Additional Tranche B Warrants") on substantially similar terms as the warrants reported herein, except that upon each issuance of Delayed Draw Preferred Shares on or after December 10, 2025, any Additional Tranche A Warrants issued shall have an initial exercise price the lesser of (x) $30.00 and (y) 110% of the 30-day volume weighted average price of the Common Stock, subject to adjustments. Any Additional Tranche B Warrants issued shall have an initial exercise price of $50.00 per share, subject to adjustments.

Remarks:

Exhibit 24 - Power of Attorney.