TRANSCAT INC — Director's Dealing 2006

Aug 18, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2006-08-16

Reporting Person: HARRISON RICHARD J (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-08-16	Warrant (Right to Buy)	$5.80	A	2400	Acquired	2011-08-15	Common Stock, par value $.50 per share (2400)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $.50 par value	16000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrant (Right to Buy)	$4.26	2010-08-16	Common Stock, par value $.50 per share (4000)	4000	Direct

Footnotes

F1: This non-transferable warrant was previously reported by Mr. Harrison. Mr. Harrison can exercise this warrant pro rata with respect to one-third of the shares subject to the warrant on the first, second and third anniversaries of the 8/17/05 grant date.

F2: This non-transferable warrant was awarded under the Transcat, Inc. Amended and Restated Directors' Warrant Plan in a transaction exempt under Rule 16b-3. Mr. Harrison can exercise this warrant pro rata with respect to one-third of the shares subject to the warrant on the first, second and third anniversaries of the 8/16/06 grant date.