TRANSCAT INC — Director's Dealing 2008

Dec 3, 2008

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2008-12-01

Reporting Person: BRADLEY FRANCIS R (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2008-12-01	Common Stock, $.50 par value	S	250	$6.70	Disposed	24523	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
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
Option (Right to Buy)	$6.35	2017-08-22	Common Stock, par value $.50 per share (4000)	4000	Direct

Footnotes

F1: Mr. Bradley has elected to defer receipt of 1,897 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 8/16/06 grant date.

F4: This option was previously reported by Mr. Bradley. Mr. Bradley can exercise this option pro rata with respect to one-third of the shares subject to the option on the first, second and third anniversaries of the 8/22/07 grant date.