TEAM, Inc. (NYSE:TISI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Team, Inc. (the Company) appointed Mr. Gary G. Yesavage to the
Board of the Company as a Class II director. Mr. Yesavage will
stand for re-election at Teams upcoming Annual Meeting of
Shareholders in May 2017. to the Boards standard compensation
policy for non-employee directors, Mr. Yesavage will receive a
$50,000 annual cash retainer payable quarterly in arrears and
will be eligible for an annual stock award of $75,000 following
the annual meeting of shareholders.
Manufacturing for its Downstream and Chemicals Operations from
2009 until his retirement in June 2016. No family relationships
exist between Mr. Yesavage and any of the Companys other
directors or executive officers. There are no arrangements
between Mr. Yesavage and any other person to which Mr. Yesavage
was nominated as a director, nor are there any transactions to
which the Company is or was a participant and in which Mr.
Yesavage has a material interest subject to disclosure under Item
404(a) of Regulation S-K.
5.02 of this Current Report on Form 8-K:
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Exhibit number
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Description
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99.1
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Team, Inc.s Press Release issued January 3, 2017
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About TEAM, Inc. (NYSE:TISI)
Team, Inc. is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group. The IHT Group offers inspection services and heat treating services. The MS Group offers both on-stream services and turnaround/project related services, such as leak repair services, fugitive emissions control services, hot tapping services, field machining services and technical bolting services, valve repair services, heat exchanger and maintenance services, isolation and test plug services, valve insertion services and project services. The Quest Integrity Group offers integrity management solutions to the energy industry in the form of quantitative inspection and engineering assessment services and products. TEAM, Inc. (NYSE:TISI) Recent Trading Information
TEAM, Inc. (NYSE:TISI) closed its last trading session down -0.60 at 37.70 with 300,875 shares trading hands.