Thomas L. Barbato - May 20, 2024 Form 4 Insider Report for TRANSCAT INC (TRNS)

Role
Sr. VP Finance & CFO
Signature
/s/ Scott Deverell, Attorney-in-Fact for Thomas L. Barbato
Stock symbol
TRNS
Transactions as of
May 20, 2024
Transactions value $
-$54,116
Form type
4
Date filed
5/22/2024, 04:41 PM
Previous filing
Apr 2, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRNS Common Stock, $.50 par value Award $0 +986 +252.82% $0.00 1.38K May 20, 2024 Direct F1
transaction TRNS Common Stock, $.50 par value Tax liability -$54.1K -436 -31.69% $124.12 940 May 20, 2024 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
transaction TRNS Restricted Stock Units Award $0 +1.92K $0.00 1.92K May 20, 2024 Common Stock, $.50 par value 1.92K $0.00 Direct F3
holding TRNS Restricted Stock Units 3.69K May 20, 2024 Common Stock, $.50 par value 3.69K $0.00 Direct F4
holding TRNS Restricted Stock Units 1.42K May 20, 2024 Common Stock, $.50 par value 1.42K $0.00 Direct F5
holding TRNS Stock Option (Right to Buy) 6K May 20, 2024 Common Stock, $.50 par value 6K $90.92 Direct F6
holding TRNS Stock Option (Right to Buy) 5K May 20, 2024 Common Stock, $.50 par value 5K $63.17 Direct F7
* 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. Barbato upon the vesting of performance-based restricted stock units granted to him under the Transcat, Inc. 2021 Stock 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 2024.
F2 Shares withheld to cover tax withholding obligations on the vesting of performance-based restricted stock units.
F3 These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the Transcat, Inc. 2021 Stock Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on March 27, 2027.
F4 These restricted stock units, which convert into common stock on a one-for-one basis, vest on March 28, 2026, except as otherwise provided in the award notice.
F5 These restricted stock units, which convert into common stock on a one-for-one basis, vest on March 28, 2025, except as otherwise provided in the award notice.
F6 This option vests and becomes exercisable pro rata with respect to one-third of the shares subject to the option on the first, second, and third anniversaries of the date of grant.
F7 This option vests and becomes exercisable on the third anniversary of the date of grant.