TRANSACT TECHNOLOGIES INC — Director's Dealing 2019

Mar 1, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSACT TECHNOLOGIES INC (TACT)
CIK: 0001017303
Period of Report: 2019-02-27

Reporting Person: SHULDMAN BART C (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-02-27	Common Stock	A	8993	$0.00	Acquired	41160	Direct
2019-03-01	Common Stock	A	1590	$0.00	Acquired	42750	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-02-27	Stock Option	$10.34	A	105200	Acquired	2029-02-27	Common Stock (105200)	Direct
2019-02-27	Restricted Stock Units	$	A	25100	Acquired		Common Stock (25100)	Direct
2019-03-01	Restricted Stock Units	$	M	2350	Disposed		Common Stock (2350)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4800	Indirect
Common Stock	3750	Indirect
Common Stock	1500	Indirect

Footnotes

F1: The acquisition of common stock represents the vesting of performance share awards (PSAs), net of relinquishments, awarded on May 22, 2017 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 2017 was a two-year combined EBITDA target for 2017 and 2018, which ended on December 31, 2018. The performance criteria was satisfied at the 93.9% level, which resulted in a payout of 84.7% of the PSAs granted during 2017. Mr. Shuldman relinquished 4,300 shares of common stock of the 13,293 PSAs that converted to common stock on February 27, 2019 in order to pay required income and payroll taxes.

F2: 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.

F3: The Restricted Stock Units convert to common stock on a one-for-one basis.

F4: 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.

F5: Shares of the Restricted Stock Units issued on March 1, 2018 pursuant to the Company's 2014 Equity Incentive Plan, vesting 25% annually commencing on the first anniversary of the date of grant that have converted to common stock on a one-for-one basis.

F6: Mr. Shuldman relinquished 760 shares of common stock of the 2,350 restricted stock units that converted to common stock on March 1, 2019 in order to pay required income and payroll taxes.