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Get filing alertsTeam Inc shareholders approve warrant share issuance, expand equity plan by 250,000 shares
Filed May 20, 2026 · Period ending May 20, 2026 · ~1 min read
Key Changes
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high
Shareholders approved issuing shares underlying Stellex warrants, including below minimum price thresholds, with 98.9% support (2,276,017 for vs 25,655 against). Authorization permits warrant exercise that could result in dilution.
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR → -
medium
Equity incentive plan expanded by 250,000 shares with shareholder approval, increasing management's pool for employee stock compensation grants.
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR → -
low
Three Class I directors re-elected to terms expiring 2029: Anthony R. Horton (96.4% support), Evan S. Lederman (99.7%), and K. Niclas Ytterdahl (99.7%).
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR → -
low
Executive compensation approved on advisory basis with 97.5% support (2,246,468 for vs 6,521 against, 52,120 abstentions).
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR → -
low
KPMG LLP ratified as independent auditor for fiscal 2026 with 99.1% support (2,867,656 for vs 25,835 against).
Item 5.07 — Submission of Matters to a Vote of Security Holders verify on EDGAR →
Summary
Team Inc held its 2026 Annual Meeting on May 20, 2026, with shareholders voting on five proposals. The most material outcome was approval of warrant share issuance to Stellex, including authorization to issue shares below minimum price thresholds as required by NYSE listing rules. This passed with 98.9% support but carries dilution risk for existing shareholders if warrants are exercised at below-threshold prices.
Shareholders also approved expanding the equity incentive plan by 250,000 shares, giving management additional capacity for employee stock compensation. Governance matters proceeded routinely: three directors were re-elected with strong support (96.4%–99.7%), executive compensation received 97.5% approval, and the auditor was ratified at 99.1%. All votes reflect healthy shareholder backing with no contested outcomes. The warrant authorization is the primary item for investors to monitor as it directly affects share count and potential dilution.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Team Inc held its 2026 Annual Meeting on May 20, 2026; filing appears incomplete with no substantive disclosures provided.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Team, Inc. (the “Company”) held its 2026 Annual Meeting of Shareholders on May 20, 2026 (the “Annual Meeting”).
The company disclosed that its 2026 Annual Meeting of Shareholders occurred on May 20, 2026. However, the 8-K filing appears incomplete, as the text cuts off mid-sentence with no substantive information about what transpired at the meeting, such as director elections, vote results, or officer appointments that would typically be disclosed under Item 5.02.
Event · Item 5.07 — Submission of Matters to a Vote of Security Holders
TISI shareholders approved equity plan expansion, executive compensation, auditor ratification, warrant issuance, and re-elected three directors.
Added in current filing · verify on EDGAR →
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.
Shareholders approved adding 250,000 shares to the company's equity incentive plan, expanding the pool available for employee stock compensation. The amendment became effective February 18, 2026, contingent on shareholder approval at the annual meeting. This increases management's ability to grant equity awards to employees.
Show 1 minor / wording change
Added in current filing · view on EDGAR →
Nominee | Votes For | Withheld | Broker Non-Votes
Anthony R. Horton
2,221,248 | 83,861 | 589,860
Evan S. Lederman
2,298,663 | 6,446 | 589,860
K. Niclas Ytterdahl
2,297,808 | 7,301 | 589,860
Shareholders re-elected three Class I directors to three-year terms expiring in 2029. Anthony R. Horton received 96.4% support (2,221,248 for vs 83,861 withheld), while Evan S. Lederman and K. Niclas Ytterdahl each received over 99.7% support. All three directors were elected with strong shareholder backing.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 24, 2026 · How we verify