SEC Form 4 · accession 0000891839-16-000202
TRANSCAT INC · TRNS
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owner
Lee D. Rudow
Officer — President and CEO · Director
Period of report
May 17, 2016
Accepted (ET)
May 19, 2016 · 5:20 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000099302
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, $.50 par valueF1,F2 | May 17, 2016 | A | 18,477 | $0.00 | A | 64,871 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Option (Right to Buy)F3 | $7.57 | holding | — | — | — | — | Jul 30, 2023 | Common Stock, $.50 par value | 99,000 | 99,000 | D |
Explanation of responses
- F1These shares were awarded to Mr. Rudow upon the vesting of a performance-based restricted stock award granted to him on 4/1/13 under the Transcat, Inc. 2003 Incentive Plan in a transaction exempt under Rule 16b-3. The shares underlying the award vest after three years subject to the Company achieving specific cumulative fully-diluted earnings per share (EPS) objectives over the eligible three-year period ending in fiscal year 2016. Based on the Company's achievement of certain pre-determined EPS thresholds, Mr. Rudow's award vested with respect to 18,477 shares.
- F2Includes 2,015 shares acquired under the Transcat, Inc. Employees' Stock Purchase Plan and an adjustment of an additional 1,000 shares to correct a typographical error in Mr. Rudow's prior report.
- F3This option was previously reported by Mr. Rudow and is exercisable as follows: 20,000 shares on 7/30/15, 20,000 shares on 7/30/16, and 60,000 shares on 7/30/17.