James Webster
TEAMAbout James Webster
James C. Webster serves as Executive Vice President, Chief Legal Officer and Secretary of Team, Inc., acting as Corporate Secretary and serving as the company’s agent for service in SEC filings . He is referenced throughout governance materials as the Corporate Secretary supporting board leadership (Lead Independent Director, Executive Chairman, CEO) and facilitating investor communications to the board . Background details such as age and education are not disclosed in the 2024–2025 proxy and filings reviewed. Company performance during his current tenure reflects improving cumulative TSR and operational execution highlighted by the compensation committee’s 2024 assessment .
Company performance metrics:
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Company TSR – Value of $100 Investment | 4.82 | 6.06 | 115.27 |
| Net Income (US$) | $70,079 (includes $203,351 gain on Quest sale) | $(75,722) | $(38,266) |
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Team, Inc. | Executive Vice President, Chief Legal Officer & Secretary | 2025–Present (in role as of Oct 27, 2025) | Signatory for current reports; governance execution and legal oversight |
| Team, Inc. | Corporate Secretary | 2025–Present (referenced Apr 2025 proxy) | Board governance support; shareholder communications process |
Fixed Compensation
Not disclosed for Mr. Webster in the 2024–2025 filings reviewed. The 2025 proxy identifies Named Executive Officers (CEO, CFO, former Chief Legal Officer) but does not include Mr. Webster’s cash compensation details .
Performance Compensation
Not disclosed for Mr. Webster. Company-wide executive bonus design and metrics are disclosed and summarized below for context .
2024 Executive Bonus Plan design (company program):
| Metric | Weight | Threshold | Target | Maximum | Notes |
|---|---|---|---|---|---|
| Adjusted EBITDA | 40% | $50.5M | $63.1M | $88.3M | Actual exceeded threshold but below target |
| Free Cash Flow | 30% | $32M | $40M | $56M | Actual achieved 173.3% of target |
| Safety (TRIR) | 10% | 0.21 | 0.20 | 0.18 | Actual TRIR 0.19 (150% of target payout) |
| Company Strategic Objectives | 10% | N/A | N/A | N/A | Group objectives assessed by committee |
| Individual Objectives | 10% | N/A | N/A | N/A | Discretionary assessment per executive |
Equity Ownership & Alignment
Company stock ownership guidelines and trading restrictions:
| Item | Policy |
|---|---|
| CEO ownership guideline | Lesser of 3x base salary or 60,000 shares; 5 years to comply |
| Senior executives ownership guideline | Lesser of 1x base salary or 40,000 shares; 5 years to comply |
| Directors ownership guideline | Lesser of 1x annual board retainer or 20,000 shares; 3 years to comply |
| Hedging/derivatives | Prohibited (e.g., zero-cost collars, forward sale contracts) |
| Short selling, options trading | Prohibited |
| Margin accounts/pledging | Prohibited |
Company equity programs (context): As of 12/31/2024, there were 589,832 RSUs/PSUs outstanding at maximum performance and 17,212 shares available for future issuance; shareholders approved a 2024 plan amendment to increase capacity by 375,000 shares to support PSU settlement in stock .
Employment Terms
Company Executive Severance Policy (general structure; specific entitlements disclosed for CEO/CFO/former CLO):
| Scenario | Cash Salary Continuation | Bonus Component | Health & Welfare Lump Sum | Non-Compete | Timing |
|---|---|---|---|---|---|
| Involuntary termination without cause or voluntary with good reason | 18 months (CEO); 15 months (CFO/former CLO); portion may be lump sum under 409A | N/A | $19,000 (CEO); $15,500 (CFO/former CLO) | 1 year; breach suspends payments | Standard timing; outplacement 6 months |
| Change-in-control + qualifying termination (double trigger) | Supplemental lump sum: 36 months (CEO); 30 months (CFO/former CLO) | 3x annual bonus opportunity (CEO); 2.5x (CFO/former CLO) – higher of last paid or 3-year average | $66,000 (CEO); $55,000 (CFO/former CLO) | 6 months | Payable 91 days post-termination |
Definitions (summarized): “Change in control” aligned to the Equity Incentive Plan; “Good reason” includes material pay cut, relocation >50 miles, material diminution of duties; “Cause” includes fraud, dishonesty, code of conduct violations; Board makes final good-faith determinations .
Note: Mr. Webster’s specific severance terms are not disclosed; policy framework is provided for context.
Performance & Track Record
Company achievements used in 2024 pay-for-performance evaluation:
- Free Cash Flow substantially exceeded target (173.3% of target) .
- Safety performance improved (TRIR 0.19; 150% of target payout) .
- Adjusted EBITDA above threshold but below target; committee cited strengthened cost management and improved EBITDA performance .
Board Governance
- Corporate Secretary responsibilities: supports board leadership structure, facilitates board/committee processes, and manages shareholder communications addressed “c/o James C. Webster, Corporate Secretary” .
- Attorney-in-fact: Mr. Webster is designated POA to prepare, sign, and file Section 16 Forms 3/4/5 for newly appointed directors (e.g., Michael Stewart, K. Niclas Ytterdahl) .
- SEC filings: Mr. Webster signed 8-Ks as EVP, Chief Legal Officer and Secretary (Oct 27, 2025), reflecting executive authority and disclosure oversight .
Related Party Transactions Policy
The Board adopted a written Related Party Transaction Policy requiring Audit Committee approval for transactions >$120,000 involving directors, executive officers, 5% shareholders or immediate family members; interested Audit Committee members must abstain .
Investment Implications
- Alignment and governance: Prohibitions on hedging/pledging and explicit ownership guidelines are shareholder-friendly and reduce misalignment risk; as Corporate Secretary, Mr. Webster’s role reinforces governance discipline .
- Pay-for-performance culture: Company-wide incentives emphasize Adjusted EBITDA, Free Cash Flow, and safety, with strong 2024 FCF and safety performance—positive indicators for operational execution under current leadership structures Mr. Webster supports .
- Disclosure gaps: Absence of Mr. Webster’s specific compensation, equity holdings, and severance terms limits precision on individual pay-risk alignment; monitor future proxies and 8-K Item 5.02 filings for updates .