Michael W. West - 19 May 2021 Form 4 Insider Report for TRANSCAT INC (TRNS)

Role
VP Distribution & Marketing
Signature
/s/ James M. Jenkins, Attorney-in-fact for Michael W. West
Issuer symbol
TRNS
Transactions as of
19 May 2021
Net transactions value
-$45,998
Form type
4
Filing time
25 May 2021, 16:19:09 UTC
Next filing
10 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRNS Common Stock, $.50 par value Award $0 +2,192 +12% $0.000000 20,064 19 May 2021 Direct F1
transaction TRNS Common Stock, $.50 par value Tax liability $45,998 -969 -4.8% $47.47 19,095 19 May 2021 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding TRNS Restricted Stock Units 4,062 19 May 2021 Common Stock, $.50 par value 4,062 $0.000000 Direct F3
holding TRNS Restricted Stock Units 2,341 19 May 2021 Common Stock, $.50 par value 2,341 $0.000000 Direct F4
holding TRNS Stock Option (Right to Buy) 25,000 19 May 2021 Common Stock, $.50 par value 25,000 $12.00 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares were awarded to Mr. West upon the vesting of a performance-based restricted stock award granted to him under the Transcat, Inc. 2003 Incentive Plan, as amended, in a transaction exempt under Rule 16b-3. The shares underlying this award vested after three years based on the Company's achievement on certain pre-determined earnings per share thresholds over the eligible three-year period that ended in fiscal year 2021.
F2 These shares were withheld to cover related tax withholding obligations.
F3 These restricted stock units, which convert into common stock on a one-for-one basis, vest on July 21, 2023, except as otherwise provided in the award notice.
F4 These restricted stock units, which convert into common stock on a one-for-one basis, vest on March 26, 2022, except as otherwise provided in the award notice.
F5 This option has fully vested as of the date of this report.