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.