secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0000318833-22-000118
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 3.03, 7.01, 9.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Team, Inc. announces one-for-ten reverse stock split effective Dec 21, 2022
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- Reverse stock split at 1:10 ratio; effective 5:00 p.m. ET on Dec 21, 2022.
- Every 10 pre-split shares become 1 share; authorized shares proportionally reduced.
- No fractional shares issued; holders receive cash based on Dec 21 closing price.
- Stock continues trading on NYSE under symbol 'TISI' with new CUSIP number.
- Shareholders who hold via brokers need not take action; certificated holders get letter from Computershare.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000031883322000118/0000318833-22-000118-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000031883322000118/tisi-20221209.htm
  HTML page:      https://secwatch.observer/filing/0000318833-22-000118

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer