SEC Form 4 · accession 0000891839-17-000025

TRANSCAT INC · TRNS

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Director

Period of report

Nov 7, 2016

Accepted (ET)

Jan 18, 2017 · 4:39 pm EST

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 value	holding	—	—		—	86,575	D

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Stock Option (Right to Buy)^F1	$7.72	Nov 7, 2016	D	10,000	D	Jul 30, 2011	Jul 30, 2017	Common Stock, $.50 par value	10,000	50,160	D
Stock Option (Right to Buy)^F2	$7.72	Jan 15, 2017	D	10,032	D	Jul 30, 2011	Jul 30, 2017	Common Stock, $.50 par value	10,032	40,128	D

F1This option was redeemed by the Company under the terms of the Transcat, Inc. 2003 Incentive Plan, as Amended and Restated, in a transaction exempt under Rule 16b-3(e). The redemption price was calculated based on the closing price of the Company's common stock on November 2, 2016 ($10.15) less the exercise price ($7.72).
F2This option was redeemed by the Company in a transaction exempt under Rule 16b-3(e) pursuant to a letter agreement dated January 10, 2017 between the Company and Mr. Sassano providing for recurring monthly redemptions. Pursuant to the letter agreement, the redemption price was calculated based on the closing price of the Company's common stock on January 13, 2017 ($10.55) less the exercise price ($7.72).