TEAM INC: Chief accounting officer change

What happened

• Team, Inc. announced that Matthew Acosta will depart as Vice President, Chief Accounting Officer of the Company, effective as of Oct 1, 2026. The filing states Mr. Acosta’s departure is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.
• The filing also announced that George Philip has been appointed as Chief Accounting Officer, effective as of Oct 2, 2026. The filing describes Mr. Philip’s prior roles at the Company and professional credentials.

Key details

• Matthew Acosta’s departure effective Oct 1, 2026; filing says no disagreement with the Company on operations, policies, or practices.
• George Philip appointed effective Oct 2, 2026; age 47; has served as Corporate Controller since Oct 2021 and served as Director of SEC reporting and Technical Accounting from June 2021 to Oct 2021.
• Mr. Philip is a certified public accountant in the State of Texas and the State of California and is a Fellow Member of the Association of Chartered Certified Accountants.
• The Company will enter into its standard form of indemnity agreement with Mr. Philip (Exhibit 10.1). The filing states there are no arrangements or understandings related to his appointment, no family relationships with Company directors or executive officers, and no reportable material transactions involving Mr. Philip.

Why it may matter

• The filing reports Item 5.02 (Departure of directors or certain officers; election of directors), which covers changes in officers and related disclosures required by the Securities Exchange Act.
• A filing does not show why the insider traded or why the company acted.