Michael W. West - Apr 8, 2024 Form 4 Insider Report for TRANSCAT INC (TRNS)

Role
Chief Operating Officer
Signature
/s/ Scott Deverell, Attorney-in-Fact for Michael W. West
Stock symbol
TRNS
Transactions as of
Apr 8, 2024
Transactions value $
-$81,423
Form type
4
Date filed
5/22/2024, 04:44 PM
Previous filing
Mar 29, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TRNS Common Stock, $.50 par value Award $0 +1.33K +5.48% $0.00 25.7K May 20, 2024 Direct F1
transaction TRNS Common Stock, $.50 par value Tax liability -$81.4K -656 -2.56% $124.12 25K 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 +2K $0.00 2K Apr 8, 2024 Common Stock, $.50 par value 2K $0.00 Direct F3
transaction TRNS Restricted Stock Units Award $0 +916 $0.00 916 May 20, 2024 Common Stock, $.50 par value 916 $0.00 Direct F4
holding TRNS Restricted Stock Units 1K Apr 8, 2024 Common Stock, $.50 par value 1K $0.00 Direct F5
holding TRNS Restricted Stock Units 725 Apr 8, 2024 Common Stock, $.50 par value 725 $0.00 Direct F6
holding TRNS Restricted Stock Units 871 Apr 8, 2024 Common Stock, $.50 par value 871 $0.00 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. West upon the vesting of performance-based restricted stock units granted to him under the Transcat, Inc. 2003 Incentive Plan 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 April 8, 2027.
F4 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.
F5 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.
F6 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.
F7 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.