TRANSCAT INC — Director's Dealing 2022

May 26, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TRANSCAT INC (TRNS)
CIK: 0000099302
Period of Report: 2022-05-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2022-05-25	Common Stock, $.50 par value	A	7676	—	Acquired	134079	Direct
2022-05-25	Common Stock, $.50 par value	F	3750	$63.17	Disposed	130329	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-05-25	Stock Option (Right to Buy)	$63.17	A	10000	Acquired	2032-05-25	Common Stock, $.50 par value (10000)	Direct
2022-05-25	Restricted Stock Units	$0	A	3483	Acquired		Common Stock, $.50 par value (3483)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$0		Common Stock, $.50 par value (4138)	4138	Direct
Restricted Stock Units	$0		Common Stock, $.50 par value (16248)	16248	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 2022.

F2: Includes 6 shares acquired under the Transcat, Inc. Employee Stock Purchase Plan.

F3: These shares were withheld to cover related tax withholding obligations.

F4: This option was granted under the Transcat, Inc. 2021 Stock Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vests on the third anniversary of the date of grant.

F5: These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the Transcat, Inc. 2021 Stock Incentive Plan in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on May 25, 2025.

F6: These restricted stock units, which convert into common stock on a one-for-one basis, vest on March 30, 2024, except as otherwise provided in the award notice.

F7: 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.