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: West Michael W. (VP Distribution & Marketing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-19	Common Stock, $.50 par value	A	2192	—	Acquired	20064	Direct
2021-05-19	Common Stock, $.50 par value	F	969	$47.47	Disposed	19095	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0		Common Stock, $.50 par value (4062)	4062	Direct
Restricted Stock Units	$0		Common Stock, $.50 par value (2341)	2341	Direct
Stock Option (Right to Buy)	$12.00	2022-06-19	Common Stock, $.50 par value (25000)	25000	Direct

Footnotes

F1: These shares were awarded to Mr. West 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.

F5: This option has fully vested as of the date of this report.