{"url_path":"/sec/tisi/8-k/2026-05-20/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-20","source_url":"https://www.sec.gov/Archives/edgar/data/318833/0000318833-26-000032-index.html","accession_number":"0000318833-26-000032","cik":"0000318833","ticker":"TISI","issuer_name":"TEAM INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/318833/0000318833-26-000032-index.html","primary_entity_key":"0000318833","primary_entity_name":"TEAM INC"},"word_count":264,"has_tables":true,"body_markdown":"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.\n\nTeam, Inc. (the “Company”) held its 2026 Annual Meeting of Shareholders on May 20, 2026 (the “Annual Meeting”). At the Annual Meeting, as described below under Item 5.07, the Company’s shareholders approved Amendment No.1 (the “Plan Amendment”) to the Second Amendment and Restatement of the Team, Inc. 2018 Equity Incentive Plan (the “Equity Incentive Plan”) to increase the number of shares available for issuance under the Equity Incentive Plan by 250,000 shares of common stock, par value $0.30 per share. The Plan Amendment became effective on February 18, 2026, subject to the approval of the Company’s shareholders at the Annual Meeting.\n\nA more complete description of the terms of the Equity Incentive Plan, as amended by the Plan Amendment, can be found in “Proposal Five-Approval of Amendment No. 1 to the Second Amendment and Restatement of the Team, Inc. 2018 Equity Incentive Plan” in the Company’s Definitive Proxy Statement on Schedule 14A, filed with the Securities and Exchange Commission on April 28, 2026 (the “Proxy Statement”), which description is incorporated by reference herein. The foregoing description and the description incorporated by reference from the Proxy Statement are qualified in their entireties by reference to (i) the full text of the Equity Incentive Plan incorporated by reference into the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and (ii) the full text of the Plan Amendment, a copy of which is included in the Proxy Statement as Appendix B thereto."}