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TRANSACT TECHNOLOGIES INC — Director's Dealing 2018
Mar 6, 2018
34640_dirs_2018-03-05_26d56dbc-e384-407c-9963-6e3b5f5862eb.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: TRANSACT TECHNOLOGIES INC (TACT)
CIK: 0001017303
Period of Report: 2018-03-01
Reporting Person: SHULDMAN BART C (Director, Chairman and CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2018-03-01 | Common Stock | A | 6800 | — | Acquired | 25188 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2018-03-01 | Stock Option | $13.65 | A | 76400 | Acquired | 2028-03-01 | Common Stock (76400) | Direct |
| 2018-03-01 | Restricted Stock Units | $ | A | 9400 | Acquired | Common Stock (9400) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 4800 | Indirect |
| Common Stock | 3750 | Indirect |
| Common Stock | 1500 | Indirect |
Footnotes
F1: Grant 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.
F2: The Restricted Stock Units convert to common stock on a one-for-one basis.
F3: The 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.
F4: The 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.