SEC FORM 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person ^*

InspectionTech Holdings LP

(Last)

(First)

(Middle)

900 THIRD AVENUE, 25TH FLOOR

(Street)

NEW YORK

10022

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/06/2026

3. Issuer Name and Ticker or Trading Symbol
TEAM INC [ TISI ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	1,604,326	I	See footnote ⁽¹⁾
Series B Preferred Stock	75,000	I	See footnote ⁽¹⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Tranche A Warrants	09/11/2025	09/11/2035	Common Stock	982,371 ⁽²⁾	23	I	See footnote ⁽¹⁾
Tranche B Warrants	09/11/2025	09/11/2035	Common Stock	470,889 ⁽²⁾	50	I	See footnote ⁽¹⁾
Delayed Draw Preferred Shares (obligation to buy)	09/11/2025	09/11/2027	Series B Preferred Stock ⁽³⁾	30,000 ⁽³⁾	1,000	I	See footnote ⁽¹⁾

Explanation of Responses:

1. Securities held of record by InspectionTech Holdings LP (the "Stellex SPV"). Michael Stewart and Raymond Whiteman are the managing members of Stellex Management Partners A LLC, which is the general partner of Stellex Management Partners A LP, which is the general partner of Stellex Partners III LP, which is the general partner of the Stellex SPV. As a result of these relationships, each of the foregoing entities may be deemed to share beneficial ownership of the securities held of record by the Stellex SPV.

2. The warrants contain provisions preventing exercise if such exercise would result in the Stellex SPV beneficially owning greater than 4.99% of the Common Stock when aggregated with all other shares of Common Stock beneficially owned.

3. Upon each issuance of 5,000 Delayed Draw Preferred Shares, the Issuer will issue to the Stellex SPV an additional 65,491 Tranche A Warrants (the "Additional Tranche A Warrants") and an additional 31,393 Tranche B Warrants (the "Additional Tranche B Warrants") on substantially similar terms as the warrants reported herein, except that upon each issuance of Delayed Draw Preferred Shares on or after December 10, 2025, any Additional Tranche A Warrants issued shall have an initial exercise price the lesser of (x) $30.00 and (y) 110% of the 30-day volume weighted average price of the Common Stock, subject to adjustments. Any Additional Tranche B Warrants issued shall have an initial exercise price of $50.00 per share, subject to adjustments.

	InspectionTech Holdings LP., By: Stellex Partners III LP, its GP, By: Stellex Management Partners A LP, its GP, By: Stellex Management Partners A LLC, its GP, By: /s/ Michael David Stewart, Managing Member	08/10/2026
	** Signature of Reporting Person	Date
	Stellex Partners III LP, By: Stellex Management Partners A LP, its GP, By: Stellex Management Partners A LLC, its GP, By: /s/ Michael David Stewart, Managing Member	08/10/2026
	** Signature of Reporting Person	Date
	Stellex Management Partners A LP, By: Stellex Management Partners A LLC, its GP, By: /s/ Michael David Stewart, Managing Member	08/10/2026
	** Signature of Reporting Person	Date
	Stellex Management Partners A LLC, /s/ Michael David Stewart, Managing Member	08/10/2026
	** Signature of Reporting Person	Date
	/s/ Raymond Alston Whiteman	08/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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