TRANSCAT INC — Director's Dealing 2006

Jun 19, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2006-06-15

Reporting Person: SASSANO CARL E (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-06-15	Common Stock, $.50 par value	M	4000	$2.00	Acquired	211683	Direct
2006-06-15	Common Stock, $.50 par value	M	50000	$1.00	Acquired	261683	Direct
2006-06-15	Common Stock, $.50 par value	F	9560	$5.23	Disposed	252123	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-06-15	Warrant (Right to Buy)	$2.00	M	4000	Disposed	2006-08-21	Common Stock, $.50 par value (4000)	Direct
2006-06-15	Stock Option (Right to Buy)	$1.00	M	50000	Disposed	2007-04-29	Common Stock, $.50 par value (50000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.50 par value	3000	Indirect
Common Stock, $.50 par value	3000	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$4.26	2015-08-15	Common Stock, $.50 par value (10895)	10895	Direct

Footnotes

F1: These shares are owned by Mr. Sassano's daughter. Mr. Sassano disclaims beneficial ownership of these shares.

F2: These shares are owned by Mr. Sassano's wife as custodian for their minor son. Mr. Sassano disclaims beneficial ownership of these shares.

F3: This non-transferable warrant was previously reported by Mr. Sassano.

F4: This option was previously reported by Mr. Sassano.

F5: This option was previously reported by Mr. Sassano. Mr. Sassano can exercise this option as follows: 3,632 shares on 8/16/06, 3,632 shares on 8/16/07, and 3,631 shares on 8/16/08.