TRANSCAT INC — Director's Dealing 2009

Jul 29, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2009-07-27

Reporting Person: PALMER HARVEY J (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-07-27	Common Stock, $.50 par value	M	2000	$2.88	Acquired	76913	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-07-27	Warrant (Right to Buy)	$2.88	M	2000	Disposed	2009-08-17	Common Stock, par value $.50 per share (2000)	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
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: This non-transferable warrant was previously reported by Dr. Palmer.

F2: This non-transferable warrant was previously reported by Dr. Palmer. Dr. Palmer 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.

F3: This option was previously reported by Dr. Palmer. Dr. Palmer 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.