SEC Form 4 · accession 0001017303-18-000009
TRANSACT TECHNOLOGIES INC · TACT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Bart C Shuldman
Officer — Chairman and CEO · Director
Period of report
Mar 1, 2018
Accepted (ET)
Mar 5, 2018 · 6:03 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001017303
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF4 | Mar 1, 2018 | A | 6,800 | $0.00 | A | 25,188 | D | |
| Common Stock | holding | — | — | — | 4,800 | I | Daughters | |
| Common Stock | holding | — | — | — | 3,750 | I | Mother | |
| Common Stock | holding | — | — | — | 1,500 | I | Spouse |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock OptionF1 | $13.65 | Mar 1, 2018 | A | 76,400 | A | Mar 1, 2019 | Mar 1, 2028 | Common Stock | 76,400 | 76,400 | D |
| Restricted Stock UnitsF2,F3 | — | Mar 1, 2018 | A | 9,400 | A | — | — | Common Stock | 9,400 | 9,400 | D |
Explanation of responses
- F1Grant of the non-qualified stock option under the Company's 2014 Equity Incentive Plan. The option becomes exercisable 25% per year on each anniversary date of the grant.
- F2The Restricted Stock Units convert to common stock on a one-for-one basis.
- F3The Restricted Stock Units were issued pursuant to the Company's 2014 Equity Incentive Plan. The Restricted Stock Units vest 25% per year on each anniversary of the date of grant.
- F4The acquisition of common stock represents the vesting of performance share awards (PSAs), net of relinquishments, awarded on April 28, 2016 pursuant to the Company's 2014 Equity Incentive Plan. Each PSA has a value equal to one share of TransAct common stock. The PSAs are earned on a variable basis dependent upon level of achievement against a long-term performance metric, which for 2016 was a two-year combined EBITDA target for 2016 and 2017, which ended on December 31, 2017. The performance criteria was satisfied at the 89.9% level, which resulted in a payout of 74.6% of the PSAs granted during 2016. Mr. Shuldman relinquished 4,394 shares of common stock of the 11,194 PSAs that converted to common stock on March 1, 2018 in order to pay required income and payroll taxes.