secwatch.observer — SEC 8-K summary
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Issuer:     TEAM INC (TISI)
CIK:        0000318833
Form:       8-K
Filed at:   2023-11-07T23:59:59+00:00
Accession:  0000318833-23-000033
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Team Inc. appoints Michael J. Caliel as Executive Chairman, creates Lead Independent Director role
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- Michael J. Caliel, previously non-executive Chairman, named Executive Chairman effective Nov 6, 2023, focusing on long-term strategy.
- Anthony R. Horton appointed Lead Independent Director and replaces Caliel as chair of Executive Committee and Governance Committee.
- CEO Keith Tucker remains, with new compensation: $750k base salary, 100% target bonus, and $2.25M LTI grant (RSU and performance RSU).
- Caliel will continue on Executive Committee; Ted Stenger replaces Caliel on Compensation Committee.
- No family relationships or related-party transactions reported between Tucker and any director or officer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/318833/000031883323000033/0000318833-23-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/318833/000031883323000033/tisi-20231106.htm
  HTML page:      https://secwatch.observer/filing/0000318833-23-000033

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