Precipio, Inc. — Director's Dealing 2014

May 29, 2014

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: TRANSGENOMIC INC (TBIO)
CIK: 0001043961
Period of Report: 2014-05-22

Reporting Person: DOUGLAS KEVIN (10% Owner, 13(d)(3) group)
Reporting Person: Douglas Michelle (10% Owner, 13(d)(3) group)
Reporting Person: DOUGLAS FAMILY TRUST (10% Owner, 13(d)(3) group)
Reporting Person: JAMES & JEAN DOUGLAS IRREVOCABLE DESCENDANTS TRUST (10% Owner, 13(d)(3) group)
Reporting Person: DOUGLAS JAMES E III (10% Owner, 13(d)(3) group)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	278332	Direct
Common Stock	351666	Indirect
Common Stock	153333	Indirect
Common Stock	33333	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrant (right to buy)	$11.73	2017-02-07	Common Stock (85250)		Direct
Warrant (right to buy)	$11.73	2017-02-07	Common Stock (70332)		Indirect
Warrant (right to buy)	$11.73	2017-02-07	Common Stock (36231)		Indirect
Warrant (right to buy)	$11.73	2017-02-07	Common Stock (21312)		Indirect

Footnotes

F1: These shares are held directly and jointly by Kevin Douglas and his wife, Michelle Douglas.

F2: Each of the reporting persons hereunder (individually, a "Reporting Person" and collectively the "Reporting Persons") may be deemed a member of a "group" within the meaning of Section 13(d)(3) of the Securities and Exchange Act of 1934, as amended (the "Exchange Act") or Rule 13d-5 promulgated under the Exchange Act, with one or more of the other Reporting Persons. Although the Reporting Persons are reporting such securities as if they were members of a "group", the filing of this Form 3 shall not be deemed an admission by any Reporting Person that such Reporting Person is a beneficial owner of any securities other than those directly held by such Reporting Person.

F3: These shares are held directly by the James Douglas and Jean Douglas Irrevocable Descendants' Trust and indirectly by Kevin Douglas and Michelle Douglas. Kevin Douglas and Michelle Douglas, husband and wife, are each a co-trustee of the James Douglas and Jean Douglas Irrevocable Descendants' Trust.

F4: These shares are held directly by the Douglas Family Trust and indirectly by Kevin Douglas. James E. Douglas, Jr. and Jean A. Douglas, husband and wife, are each a co-trustee of the Douglas Family Trust.

F5: These shares are held directly by James E. Douglas, III and indirectly by Kevin Douglas.

F6: This warrant is exercisable at any time up to and including the expiration date. The terms of this warrant contain a limitation on conversion which prevents the Reporting Person from converting this warrant into shares without the issuer's prior approval, if, after giving effect to the conversion, the Reporting Person would beneficially own more than 9.99% of the issuer's outstanding shares.