Every material Form 8-K TEAM INC has filed with the SEC since August 10, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Team, Inc. said Matthew Acosta left his role as Vice President and Chief Accounting Officer effective October 1, 2026, and that the departure was not due to any disagreement with the company. George Philip, the company's Corporate Controller since October 2021, was appointed Chief Accounting Officer effective October 2, 2026. The change affects the executive who oversees the company's accounting function, but the filing reports no financial results.
Matthew Acosta departed as Vice President, Chief Accounting Officer effective October 1, 2026, with no disagreement with the company cited.
George Philip, age 47, was appointed Chief Accounting Officer effective October 2, 2026.
Philip has been Corporate Controller since October 2021 and previously served as Director of SEC reporting and Technical Accounting from June 2021 to October 2021.
Philip will enter the company's standard indemnity agreement, filed as Exhibit 10.1.
An entity controlled by Stellex Capital Management agreed to buy all 1,604,326 common shares held by Corre Partners Management and its affiliates at $35.50 per share in a privately negotiated sale. Team, Inc. issues no shares and receives no proceeds, and Stellex is expected to own about 35% of the outstanding common stock upon closing, along with preferred stock and warrants it received in September 2025. Separately, Corre irrevocably waived its board observation and nomination rights, including the right to designate the Chairman, effective August 6, 2026.
Stellex-controlled entity to acquire 1,604,326 common shares from Corre at $35.50 per share.
Team, Inc. will not issue shares or receive proceeds from the transaction.
Upon closing, Stellex is expected to own about 35% of common stock, plus preferred stock and warrants issued in September 2025.
Corre waived its board observation and nomination rights, including the right to designate the Chairman, effective August 6, 2026; rights tied to the Lender Director remain in place.
Team, Inc. reported unaudited second-quarter 2026 revenue of $228.7 million, down 7.8% from $248.0 million a year earlier, and a net loss of $6.8 million versus $4.3 million. The company blamed deferred turnaround and maintenance work at oil, gas and petrochemical customers, and said it expects results toward the bottom half of its full-year 2026 guidance ranges, which it maintained.
Q2 2026 revenue $228.7 million vs. $248.0 million in Q2 2025; Adjusted EBITDA $12.8 million vs. $24.5 million
Net loss attributable to common shareholders $9.8 million, or $2.15 per share, vs. $0.95 per share loss a year earlier
Full-year 2026 guidance maintained: revenue $920 million to $945 million and Adjusted EBITDA $68 million to $73 million, with results expected toward the bottom half of those ranges
Total debt $326.3 million at June 30, 2026, up from $297.2 million at fiscal year-end 2025
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every TEAM INC filing is on SEC EDGAR ↗. 8-K briefs of other companies →