Brent Richstmeier - Feb 29, 2024 Form 4 Insider Report for TRANSACT TECHNOLOGIES INC (TACT)

Role: Chief Technology Officer
Signature: Steven A. DeMartino, Attorney-in-fact
Stock symbol: TACT
Transactions as of: Feb 29, 2024
Transactions value $: $89,760
Form type: 4
Date filed: 3/4/2024, 05:58 PM
Previous filing: Mar 6, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TACT	Common Stock	Options Exercise	$0	+920	+128.13%	$0.00	1.64K	Mar 1, 2024	Direct	F4
transaction	TACT	Common Stock	Options Exercise	$0	+3.52K	+214.77%	$0.00	5.16K	Mar 1, 2024	Direct	F9
transaction	TACT	Common Stock	Options Exercise	$0	+718	+13.93%	$0.00	5.87K	Mar 2, 2024	Direct	F7, F10

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
transaction	TACT	Stock Option	Award	$89.8K	+13.2K		$6.80	13.2K	Feb 29, 2024	Common Stock	13.2K	$6.80	Direct	F1
transaction	TACT	Restricted Stock Units	Award	$0	+5.2K		$0.00	5.2K	Feb 29, 2024	Common Stock	5.2K		Direct	F2, F3
transaction	TACT	Restricted Stock Units	Options Exercise	$0	-1.25K	-25%	$0.00	3.75K	Mar 1, 2024	Common Stock	1.25K		Direct	F5
transaction	TACT	Performance Stock Units	Options Exercise	$0	-4.78K	-33.33%	$0.00	9.56K	Mar 1, 2024	Common Stock	4.78K		Direct	F6
transaction	TACT	Restricted Stock Units	Options Exercise	$0	-975	-33.33%	$0.00	1.95K	Mar 2, 2024	Common Stock	975		Direct	F7, F8

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Grant of the non-qualified stock option under the Company's 2014 Equity Incentive Plan, as Amended and Restated. The option becomes exercisable 25% per year on each anniversary date of the grant.
F2	The Restricted Stock Units convert to common stock on a one-for-one basis.
F3	The Restricted Stock Units were issued pursuant to the TransAct Technologies Incorporated 2014 Equity Incentive Plan, as Amended and Restated. The Restricted Stock Units vest 25% per year on each anniversary of the date of grant.
F4	Mr. Richstmeier relinquished 330 shares of common stock of the 1,250 restricted stock units that converted to common stock on March 1, 2024 in order to pay the required income and payroll taxes.
F5	Shares of Restricted Stock Units issued on March 1, 2023 pursuant to the Company's 2014 Equity Incentive Plan, as Amended and Restated, vesting 25% annually commencing on the first anniversary of the date of grant that have converted to common stock on a one-for-one basis
F6	Shares of Performance Stock Units (PSU) issued on March 1, 2023 pursuant to the Company's 2014 Equity Incentive Plan, as Amended, which vest in three equal installments on March 1, 2024, March 1, 2025 and March 1, 2026 and convert to common stock on a one-for-one basis on each vesting date. The PSUs were earned on a variable basis dependent upon level of achievement against a performance metric, which was based on 50% FST Revenue and 50% Adjusted EBITDA for the calendar year 2023. For the FST Revenue metric we achieved 90.6% of the Target resulting in a 81.2% payout. For the Adjusted EDBITDA metric we achieved 136.5% of the target resulting in the maximum 150% payout. Weighting both of these equally at 50%, the resulting payout was 115.6%.
F7	Shares of restricted stock units (RSU) vested on 03/02/2024 and issued on 03/04/2024.
F8	Shares of Restricted Stock Units issued on March 2, 2022 pursuant to the Company's 2014 Equity Incentive Plan, as Amended and Restated, vesting 25% annually commencing on the first anniversary of the date of grant that have converted to common stock on a one-for-one basis.
F9	Mr. Richstmeier relinquished 1,260 shares of common stock of the 4,778 stock units that converted to common stock on March 1, 2024 in order to pay the required income and payroll taxes.
F10	Mr. Richstmeier relinquished 257 shares of common stock of the 975 restricted stock units that converted to common stock on March 2, 2024 in order to pay the required income and payroll taxes.