TEAM INC 8-K

What Happened

• Team, Inc. (TISI) held its 2026 Annual Meeting of Shareholders on May 20, 2026 and its shareholders approved Amendment No. 1 to the Second Amendment and Restatement of the Team, Inc. 2018 Equity Incentive Plan.
• The Plan Amendment increases the number of shares available for issuance under the Equity Incentive Plan by 250,000 shares of common stock (par value $0.30). The amendment became effective on February 18, 2026, subject to shareholder approval.
• The proxy disclosures describing the updated plan terms appear in the company’s Definitive Proxy Statement filed April 28, 2026 (Appendix B contains the Plan Amendment); the full Equity Incentive Plan text is in the company’s Form 10-K for the year ended December 31, 2025.

Key Details

• Share increase: 250,000 additional common shares authorized for issuance under the Equity Incentive Plan.
• Par value: $0.30 per share.
• Annual meeting date: May 20, 2026; proxy statement filed April 28, 2026.
• Plan Amendment effective date: February 18, 2026 (subject to shareholder approval, which was granted May 20).

Why It Matters

• The approved increase allows Team, Inc. to grant additional equity awards (stock options, restricted stock, etc.) to employees, directors and consultants under its 2018 Equity Incentive Plan.
• If and when new awards are granted and vest, the company’s outstanding share count could rise, which is a factor investors watch because it can affect per-share metrics. For full terms and potential effects, investors should review the Plan Amendment in the proxy (Appendix B) and the Equity Incentive Plan text in the 2025 Form 10-K.