---
schema_version: "secwatch.filing_event.v1"
accession: "0000318833-22-000136"
form_type: "8-K"
ticker: "TISI"
cik: "0000318833"
company_name: "TEAM INC"
filed_at: "2022-12-22T23:59:59+00:00"
generated_at: "2026-06-21T00:24:32.463291+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Team, Inc. completes 1-for-10 reverse stock split, reduces authorized shares to 12M

## Summary
- Effective 5:00 p.m. ET Dec 21, 2022; shares begin trading split-adjusted on NYSE Dec 22 under same ticker TISI with new CUSIP 878155 308.
- Outstanding shares reduced from ~43.4M to ~4.34M; authorized shares reduced from 120M to 12M.
- Fractional shares eliminated; cash payment based on aggregate sale by transfer agent Computershare, not closing price (correction issued Dec 22).
- Conversion rate on 5.00% Convertible Senior Notes due 2023 adjusted from 46.0829 to 4.6083 shares per $1,000 principal.
- Proportionate adjustments made to warrants, equity awards, and convertible securities.

## SEC filing metadata
- accession: 0000318833-22-000136
- form_type: 8-K
- ticker: TISI
- cik: 0000318833
- company_name: TEAM INC
- filed_at: 2022-12-22T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.03, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/318833/000031883322000136/0000318833-22-000136-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/318833/000031883322000136/tisi-20221221.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000318833-22-000136
- JSON: https://secwatch.observer/filing/0000318833-22-000136.json
- Plain text: https://secwatch.observer/filing/0000318833-22-000136.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.