Steven A. DeMartino - 31 Dec 2022 Form 4 Insider Report for TRANSACT TECHNOLOGIES INC (TACT)

Signature
Steven A DeMartino
Issuer symbol
TACT
Transactions as of
31 Dec 2022
Net transactions value
-$6,371
Form type
4
Filing time
04 Jan 2023, 17:39:45 UTC
Previous filing
04 Mar 2022
Next filing
01 Mar 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TACT Common Stock Options Exercise $9,815 +1,553 +1.9% $6.32 83,894 31 Dec 2022 Direct F1, F3

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 Performance Stock Units Options Exercise $16,186 -2,561 -50% $6.32 2,562 31 Dec 2022 Common Stock 2,561 $6.32 Direct F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares of performance stock units (PSU) vested on 12/31/2022 and issued on 1/3/2023.
F2 Shares of Performance Stock Units (PSU) issued on March 4, 2021 pursuant to the Company's 2014 Equity Incentive Plan, which vest in three equal installments on March 2, 2022, December 31, 2022 and December 31, 2023 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 terminals and software installed during the year ended December 31, 2021. The performance criteria was satisfied at a 82.6% level, which resulted in a payout of 56.5% of the PSUs granted during 2021.
F3 Mr. DeMartino relinquished 1,008 shares of common stock of the 2,561 performance stock units that converted to common stock on January 3, 2023 in order to pay the required income and payroll taxes.