TRANSCAT (TRNS) Director Craig D. Cairns Exercises Options and Sells 1,587

What Happened

• Craig D. Cairns, a director of Transcat Inc. (TRNS), exercised/converted 1,587 derivative shares on 2026-09-10 and the same 1,587 shares were reported as disposed on 2026-09-10. Both the acquisition and disposition lines show $0 per share in the filing (derivative/option conversion reporting). Separately, on 2026-09-09 he was granted 1,671 restricted stock units (RSUs) (derivative award).
• The filing shows no cash price for the exercise/conversion (reported as $0), and the 1,587 shares were disposed the same day, which is consistent with an immediate sale/cashless conversion pattern (filing does not show proceeds here).

Key Details

• Transaction dates: RSU grant 2026-09-09 (1,671 RSUs, derivative); exercise/conversion and disposition 2026-09-10 (1,587 shares).
• Reported prices/values: $0 per share shown in the exercise/conversion and disposition lines (this reflects conversion reporting, not necessarily sale proceeds).
• Shares owned after transaction: not specified in the provided excerpt of the Form 4.
• Relevant footnotes from the filing:
  • F1: RSUs convert into common stock one-for-one.
  • F2: The 1,671 RSUs were granted under Rule 16b-3 and generally vest on 9/9/2027.
  • F3: Certain RSUs vested on 9/10/2026 (as noted in the filing).
  • F4: The option involved is fully vested and exercisable as of the report date.
• Timeliness: Form filed 2026-09-10 for a 2026-09-09 report period — filing appears timely (no late filing indicated).

Context

• For retail investors: the filing documents a derivative exercise/conversion and an immediate disposition of 1,587 shares — a routine insider liquidity move rather than a straightforward open-market purchase signaling new bullishness.
• The 1,671 RSU grant is an award that generally vests in the future (9/9/2027 per footnote), so that grant itself does not reflect an immediate change in ownership of common shares.