TRANSCAT INC — Director's Dealing 2007

Jul 30, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2007-07-26

Reporting Person: BRADLEY FRANCIS R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-26	Common Stock, $.50 par value	M	4000	$.97	Acquired	21338	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-07-26	Warrant (Right to Buy)	$.97	M	4000	Disposed	2007-08-19	Common Stock, par value $.50 per share (4000)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Warrant (Right to Buy)	$2.31	2008-08-19	Common Stock, par value $.50 per share (4000)	4000	Direct
Warrant (Right to Buy)	$2.88	2009-08-17	Common Stock, par value $.50 per share (4000)	4000	Direct
Warrant (Right to Buy)	$4.26	2010-08-16	Common Stock, par value $.50 per share (4000)	4000	Direct
Warrant (Right to Buy)	$5.80	2011-08-15	Common Stock, par value $.50 per share (2400)	2400	Direct

Footnotes

F1: Mr. Bradley has elected to defer receipt of 4,365 of these shares, all of which are credited to his participant stock account under the Transcat, Inc. Amended and Restated Directors' Stock Plan, until the expiration of the deferral period, at which time the shares will be issued to him pursuant to the terms of his prior election.

F2: This non-transferable warrant was previously reported by Mr. Bradley.

F3: This non-transferable warrant was previously reported by Mr. Bradley. Mr. Bradley 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 8/18/04 grant date.

F4: This non-transferable warrant was previously reported by Mr. Bradley. Mr. Bradley 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.

F5: This non-transferable warrant was previously reported by Mr. Bradley. Mr. Bradley 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.