<SEC-DOCUMENT>0000899140-24-000666.txt : 20240617
<SEC-HEADER>0000899140-24-000666.hdr.sgml : 20240617
<ACCEPTANCE-DATETIME>20240617174739
ACCESSION NUMBER:		0000899140-24-000666
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20240614
FILED AS OF DATE:		20240617
DATE AS OF CHANGE:		20240617

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Corre Opportunities Qualified Master Fund, LP
		CENTRAL INDEX KEY:			0001601971
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08604
		FILM NUMBER:		241049489

	BUSINESS ADDRESS:	
		STREET 1:		12 EAST 49TH STREET, 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		646-863-7151

	MAIL ADDRESS:	
		STREET 1:		12 EAST 49TH STREET, 40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Corre Partners Management, LLC
		CENTRAL INDEX KEY:			0001537323
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08604
		FILM NUMBER:		241049491

	BUSINESS ADDRESS:	
		STREET 1:		12 EAST 49TH STREET
		STREET 2:		SUITE 4003
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		646 863 7150

	MAIL ADDRESS:	
		STREET 1:		12 EAST 49TH STREET
		STREET 2:		SUITE 4003
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Corre Horizon II Fund, LP
		CENTRAL INDEX KEY:			0001823817
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08604
		FILM NUMBER:		241049488

	BUSINESS ADDRESS:	
		STREET 1:		12 EAST 49TH STREET
		STREET 2:		40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		7478637151

	MAIL ADDRESS:	
		STREET 1:		12 EAST 49TH STREET
		STREET 2:		40TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CORRE HORIZON FUND, LP
		CENTRAL INDEX KEY:			0001751529
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08604
		FILM NUMBER:		241049490

	BUSINESS ADDRESS:	
		STREET 1:		CONYERS TRUST COMPANY (CAYMAN) LTD
		STREET 2:		CRICKET SQUARE, HUTCHINS DR, BOX 2681
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1111
		BUSINESS PHONE:		345-949-1040

	MAIL ADDRESS:	
		STREET 1:		CONYERS TRUST COMPANY (CAYMAN) LTD
		STREET 2:		CRICKET SQUARE, HUTCHINS DR, BOX 2681
		CITY:			GRAND CAYMAN
		STATE:			E9
		ZIP:			KY1-1111

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TEAM INC
		CENTRAL INDEX KEY:			0000318833
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS REPAIR SERVICES [7600]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				741765729
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		13131 DAIRY ASHFORD
		STREET 2:		SUITE 600
		CITY:			SUGAR LAND
		STATE:			TX
		ZIP:			77478
		BUSINESS PHONE:		2813316154

	MAIL ADDRESS:	
		STREET 1:		13131 DAIRY ASHFORD
		STREET 2:		SUITE 600
		CITY:			SUGAR LAND
		STATE:			TX
		ZIP:			77478
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2024-06-14</periodOfReport>

    <issuer>
        <issuerCik>0000318833</issuerCik>
        <issuerName>TEAM INC</issuerName>
        <issuerTradingSymbol>TISI</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001537323</rptOwnerCik>
            <rptOwnerName>Corre Partners Management, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12 EAST 49TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>40TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001751529</rptOwnerCik>
            <rptOwnerName>CORRE HORIZON FUND, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12 EAST 49TH STREET, 40TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2>40TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001601971</rptOwnerCik>
            <rptOwnerName>Corre Opportunities Qualified Master Fund, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12 EAST 49TH STREET, 40TH FLOOR</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001823817</rptOwnerCik>
            <rptOwnerName>Corre Horizon II Fund, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12 EAST 49TH STREET</rptOwnerStreet1>
            <rptOwnerStreet2>40TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10017</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, par value $0.30 per share</value>
            </securityTitle>
            <transactionDate>
                <value>2024-06-14</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.288</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1559520</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Notes are included on Exhibit 99.1.</footnote>
        <footnote id="F2">Notes are included on Exhibit 99.1.</footnote>
    </footnotes>

    <remarks>Exhibit List:

Exhibit 99.1 Explanation of Responses</remarks>

    <ownerSignature>
        <signatureName>Corre Horizon Fund, LP
By: Corre Partners Advisors, LLC, its general partner
/s/ John Barrett, Managing Member</signatureName>
        <signatureDate>2024-06-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Corre Partners Management, LLC
/s/ John Barrett, Managing Member</signatureName>
        <signatureDate>2024-06-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Corre Opportunities Qualified Master Fund, LP
By: Corre Partners Advisors, LLC, its general partner
/s/ John Barrett, Managing Member</signatureName>
        <signatureDate>2024-06-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Corre Horizon II Fund, LP
By: Corre Partners Advisors, LLC, its general partner
/s/ John Barrett, Managing Member</signatureName>
        <signatureDate>2024-06-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c75542580.htm
<DESCRIPTION>EXPLANATION OF RESPONSES
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Willkie Farr & Gallagher LLP
         Document created using Broadridge PROfile 23.12.1.5186
         Copyright 1995 - 2024 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z321284385d8646ddae7d4946556d7af7">

        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Designated Filer:</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Corre Partners Management, LLC</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Issuer &amp; Ticker Symbol</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Team, Inc. (TISI)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">Date of Event Requiring Statement:</div>
          </td>
          <td style="width: 80%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', Times, serif;">June 14, 2024</div>
          </td>
        </tr>

    </table>
    <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1&#160;</font> <br>
    </div>
    <div><br>
    </div>
    <br>
    <div style="text-align: justify;"><u>Explanation of Responses</u>:</div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zca1340dd2b614b9fa5c05b3b4d774539" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 6pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 4.5pt; margin-bottom: 6pt;">(1)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; margin-bottom: 6pt;">Following this transaction on June 14, 2024, the securities were held directly by (i)&#160;Corre&#160;Opportunities Qualified Master
                Fund, LP (which held 1,040,951 shares of Common Stock), (ii)&#160;Corre&#160;Horizon Fund, LP (which held 249,942 shares of Common Stock) and (iii)&#160;Corre&#160;Horizon II Fund, LP (which held 268,627 shares of Common Stock).</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z32664ae8aab54ca5a8da8eda25ba44bb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 6pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 4.5pt; margin-bottom: 6pt;">(2)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; margin-bottom: 6pt;">Each of the Funds is a client of&#160;Corre&#160;Partners Management, LLC (the &#8220;Investment Adviser&#8221;). The Investment Adviser has been
                delegated investment management authority over the assets of the Funds by&#160;Corre&#160;Partners Advisors, LLC, the general partner of the Funds (the &#8220;General Partner&#8221;). Mr. John Barrett and Mr. Eric Soderlund are the co-owners and managing members
                of the Investment Adviser and the General Partner.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 6pt;"><br>
    </div>
    <div style="text-align: justify;">
      <div> </div>
    </div>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
