TRANSCAT INC — Director's Dealing 2021

May 25, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2021-05-19

Reporting Person: Rudow Lee D. (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-19	Common Stock, $.50 par value	A	8742	—	Acquired	169760	Direct
2021-05-19	Common Stock, $.50 par value	F	4039	$47.47	Disposed	165721	Direct
2021-05-19	Common Stock, $.50 par value	S	4371	$47.47	Disposed	161350	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0		Common Stock, $.50 par value (16248)	16248	Direct
Restricted Stock Units	$0		Common Stock, $.50 par value (9362)	9362	Direct

Footnotes

F1: These shares were awarded to Mr. Rudow upon the vesting of a performance-based restricted stock award granted to him under the Transcat, Inc. 2003 Incentive Plan, as amended, in a transaction exempt under Rule 16b-3. The shares underlying this award vested after three years based on the Company's achievement on certain pre-determined earnings per share thresholds over the eligible three-year period that ended in fiscal year 2021.

F2: These shares were withheld to cover related tax withholding obligations.

F3: These restricted stock units, which convert into common stock on a one-for-one basis, vest on July 21, 2023, except as otherwise provided in the award notice.

F4: These restricted stock units, which convert into common stock on a one-for-one basis, vest on March 26, 2022, except as otherwise provided in the award notice.