TRANSCAT INC — Director's Dealing 2006

Oct 25, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2006-10-23

Reporting Person: HADEED CHARLES P (President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-23	Common Stock, $.50 par value	M	12500	$1.00	Acquired	74157	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-23	Stock Option (Right to Buy)	$1.00	M	12500	Disposed	2007-04-29	Common Stock, $.50 par value (12500)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$2.20	2013-10-28	Common Stock, $.50 par value (20000)	20000	Direct
Stock Option (Right to Buy)	$2.89	2014-10-18	Common Stock, $.50 par value (20000)	20000	Direct
Stock Option (Right to Buy)	$4.26	2015-08-16	Common Stock, $.50 par value (6103)	6103	Direct
Stock Option (Right to Buy)	$5.68	2016-08-08	Common Stock, $.50 par value (7042)	7042	Direct

Footnotes

F1: Includes 519 shares acquired under the Transcat, Inc. Employees' Stock Purchase Plan between August 2006 and September 2006.

F2: This option was previously reported by Mr. Hadeed.

F3: This option was previously reported by Mr. Hadeed. Mr. Hadeed can exercise this option as follows: 6,667 shares on 10/28/04, 6,667 shares on 10/28/05, and 6,666 shares on 10/28/06.

F4: This option was previously reported by Mr. Hadeed. Mr. Hadeed can exercise this option as follows: 6,667 shares on 10/18/05, 6,667 shares on 10/18/06, and 6,666 shares on 10/18/07.

F5: This option was previously reported by Mr. Hadeed. Mr. Hadeed can exercise this option as follows: 2,035 shares on 8/16/06, 2,034 shares on 8/16/07, and 2,034 shares on 8/16/08.

F6: This option was previously reported by Mr. Hadeed. Mr. Hadeed can exercise this option as follows: 2,348 shares on 8/08/07, 2,347 shares on 8/08/08, and 2,347 shares on 8/08/09.