<SEC-DOCUMENT>0001206774-16-005272.txt : 20160331
<SEC-HEADER>0001206774-16-005272.hdr.sgml : 20160331
<ACCEPTANCE-DATETIME>20160331165927
ACCESSION NUMBER:		0001206774-16-005272
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20160327
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20160331
DATE AS OF CHANGE:		20160331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRANSCAT INC
		CENTRAL INDEX KEY:			0000099302
		STANDARD INDUSTRIAL CLASSIFICATION:	INSTRUMENTS FOR MEAS & TESTING OF ELECTRICITY & ELEC SIGNALS [3825]
		IRS NUMBER:				160874418
		STATE OF INCORPORATION:			OH
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03905
		FILM NUMBER:		161543897

	BUSINESS ADDRESS:	
		STREET 1:		35 VANTAGE POINT DRIVE
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14624
		BUSINESS PHONE:		5853527777

	MAIL ADDRESS:	
		STREET 1:		35 VANTAGE POINT DRIVE
		CITY:			ROCHESTER
		STATE:			NY
		ZIP:			14624

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRANSMATION INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>transcat_8k.htm
<DESCRIPTION>CURRENT REPORT
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<P align=center><B><FONT face="Times New Roman">UNITED
STATES<BR></FONT></B><B><FONT face="Times New Roman">SECURITIES AND EXCHANGE
COMMISSION<BR>Washington, D.C. 20549 </FONT></B></P>
<P align=center><B><FONT face="Times New Roman" size=4>FORM 8-K </FONT></B></P>
<P align=center><B><FONT face="Times New Roman">CURRENT
REPORT<BR></FONT></B><B><FONT face="Times New Roman">Pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934 </FONT></B></P>
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    <TD noWrap align=left width="42%"><FONT face="Times New Roman" size=2>Date
      of Report (Date of earliest event reported)</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><B><FONT face="Times New Roman">March&nbsp;27,
    2016</FONT></B></TD>
    <TD noWrap align=left width="41%">&nbsp;</TD></TR></TABLE><BR><BR>
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    <TD STYLE="border-bottom: #000000 1pt solid; text-align: center; width: 100%; padding-bottom: 2pt"><B><FONT face="Times New Roman" size=5>Transcat,
      Inc</FONT></B><FONT face="Times New Roman" size=5>.</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="100%"><FONT face="Times New Roman" size=2>(Exact name of registrant as specified in
      its charter)</FONT></TD></TR></TABLE><BR><BR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face="Times New Roman">Ohio</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face="Times New Roman">000-03905</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="33%"><B><FONT face="Times New Roman">16-0874418</FONT></B></TD></TR>
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    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(State or other jurisdiction</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(Commission</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>(IRS Employer</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>of incorporation)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>File Number)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="33%"><FONT face="Times New Roman" size=2>Identification
No.)</FONT></TD></TR></TABLE><BR><BR>
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    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="65%"><B><FONT face="Times New Roman">35 Vantage Point Drive,
      Rochester, New York</FONT></B></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="34%"><B><FONT face="Times New Roman">14624</FONT></B></TD></TR>
  <TR vAlign=bottom>
    <TD style="TEXT-ALIGN: center" noWrap width="65%"><FONT face="Times New Roman" size=2>(Address of principal executive
      offices)</FONT></TD>
    <TD style="TEXT-ALIGN: center" noWrap width="34%"><FONT face="Times New Roman" size=2>(Zip
Code)</FONT></TD></TR></TABLE><BR><BR>
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  <TR vAlign=bottom>
    <TD noWrap align=left width="42%"><FONT face="Times New Roman" size=2>Registrant's telephone number, including area code</FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=center width="16%"><B><FONT face="Times New Roman">585-352-7777</FONT></B></TD>
    <TD noWrap align=left width="41%">&nbsp;</TD></TR></TABLE><BR><BR>
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  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #000000 1pt solid" noWrap align=center width="99%"><FONT face="Times New Roman" size=2>(Former name or former
      address, if changed since last report)</FONT></TD></TR></TABLE><BR>
<P align=left><FONT face="Times New Roman" size=2>Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions: </FONT></P>
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    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>[ ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Written communications pursuant to Rule 425 under the Securities
      Act (17 CFR 230.425)</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="97%"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>[ ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)</FONT></TD></TR>
  <TR>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="97%"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>[ ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%">&nbsp;</TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="97%"></TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="1%"><FONT face="Times New Roman" size=2>[ ]</FONT></TD>
    <TD vAlign=top noWrap align=left width="1%"></TD>
    <TD vAlign=top noWrap align=left width="97%"><FONT face="Times New Roman" size=2>Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR></TABLE><BR>
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<DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR>
<P align="left"><B><FONT size=2 face="Times New Roman">Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </font></B></P><P align="left"><I><FONT size=2 face="Times New Roman">Michael J. Tschiderer, Chief Financial Officer </font></I></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">On March 27, 2016, Michael J. Tschiderer assumed the role of Chief Financial Officer of Transcat, Inc. (&#147;Transcat&#148; or the &#147;Company&#148;).</FONT></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Mr. Tschiderer, age 56, joined the Company in December 2015 as Vice President of Finance and brings more than 30 years of financial experience to Transcat. Prior to joining the Company, Mr. Tschiderer served as Global Controller of Lanzatech, Inc., a start-up carbon-recycling company, which he joined in September 2014. From February 2014 to September 2014, Mr. Tschiderer was an independent consultant. From March 2011 to February 2014, he served as Vice President, Global Controller and Treasurer of GXS Worldwide, Inc., a global cloud integration and software company, where he led a team of more than 125 employees in 15 countries. Prior to that, from April 2009 to February 2011, Mr. Tschiderer served as Vice President and Corporate Secretary of Infinia Corporation, a development stage solar technology manufacturing company, after providing consulting services to Infinia from August 2008 to April 2009. Mr. Tschiderer has experience as a certified public accountant and holds a Bachelor of Business Administration from St. Bonaventure University. </font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">There was no arrangement or understanding between Mr. Tschiderer and any other person with respect to his appointment as Chief Financial Officer, and there is no family relationship between him and any director or executive officer of the Company. Since March 29, 2015, there have been no transactions, nor are there any currently proposed transactions, to which the Company or any of its subsidiaries was or is to be a participant in which Mr. Tschiderer, or any member of his immediate family, had, or will have, a direct or indirect material interest. Transcat and Mr. Tschiderer are not parties to an employment agreement. </font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Mr. Tschiderer&#146;s annual base salary as Chief Financial Officer is &#36;215,000 and his target performance-based cash incentive award amount as a percentage of base salary under the Company&#146;s performance incentive plan is 45%. Payment of performance-based cash incentive awards is based on the successful achievement of pre-established corporate and individual performance goals. The Company&#146;s performance incentive plan, which is an annual cash incentive program designed to compensate key management members, is described under the heading &#147;Performance Incentive Plan&#148; in the Company&#146;s definitive proxy statement filed with the Securities and Exchange Commission on July 23, 2015. Such description is incorporated herein by reference. Mr. Tschiderer&#146;s performance-based cash incentive award amount will be based equally on the achievement of individual performance objectives and corporate financial objectives set by the board of directors. </font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Mr. Tschiderer is eligible for long-term performance-based incentive compensation awards as described under the heading &#147;Long-Term Cash and Equity Incentive Compensation&#148; in the Company&#146;s definitive proxy statement filed with the Securities and Exchange Commission on July 23, 2015. Such description is incorporated herein by reference. </font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Mr. Tschiderer is subject to the Company&#146;s stock ownership objectives for executive officers and is eligible to participate in and/or receive benefits under the Company&#146;s non-qualified deferred compensation program, 401(k) plan, health and welfare plans, including medical, dental and long-term care plans, executive life insurance, short-term disability insurance, and the post-retirement plan for officers. </font></P><HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE=2><DIV STYLE="PAGE-BREAK-BEFORE: ALWAYS"></DIV><BR><P align="left"><I><FONT size=2 face="Times New Roman">Scott D. Deverell, Principal Accounting Officer </font></I></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Effective March 27, 2016, Scott D. Deverell, the Company&#146;s Corporate Controller, assumed the role of Principal Accounting Officer.</font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Mr. Deverell, age 50, brings more than 20 years of experience in financial executive positions in a variety of industries to Transcat. Prior to joining the Company in February 2016, Mr. Deverell served as Vice President of Finance and Administration for Sydor Instruments, a comprehensive diagnostics solution provider, which he joined in April 2015. From 2009 to 2014, Mr. Deverell served as Division President for Stewart Title Insurance Company, a title insurance underwriter. From 2006 to 2008, Mr. Deverell served as Chief Financial Officer for Monroe Title Insurance Corporation, a subsidiary of Stewart Title. Mr. Deverell has experience as a certified public accountant and holds an MBA from the Rochester Institute of Technology and a Bachelor of Science in accounting from the State University of New York at Geneseo. </font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">There was no arrangement or understanding between Mr. Deverell and any other person with respect to his appointment as Principal Accounting Officer, and there is no family relationship between him and any director or executive officer of the Company. Since March 29, 2015, there have been no transactions, nor are there any currently proposed transactions, to which the Company or any of its subsidiaries was or is to be a participant in which Mr. Deverell, or any member of his immediate family, had, or will have, a direct or indirect material interest. Transcat and Mr. Deverell are not parties to an employment agreement. </font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Mr. Deverell&#146;s annual base salary as Principal Accounting Officer is &#36;155,000 and his target performance-based cash incentive award amount as a percentage of base salary under the Company&#146;s performance incentive plan (as described above for Mr. Tschiderer) is 30%. Mr. Deverell&#146;s performance-based cash incentive award amount will be based equally on the achievement of individual performance objectives and corporate financial objectives set by the board of directors. Mr. Deverell is also eligible for long-term performance-based incentive compensation awards as described above for Mr. Tschiderer. </font></P><P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT size=2 face="Times New Roman">Mr. Deverell is subject to certain stock ownership objectives and is eligible to participate in and/or receive benefits under the Company&#146;s 401(k) plan, health and welfare plans, including medical and dental plans, and short-term disability insurance.</font></P>
<HR NOSHADE ALIGN="CENTER" WIDTH="100%" SIZE=2>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV><BR>
<P align=center><FONT face="Times New Roman" size=2>SIGNATURES </FONT></P>
<P ALIGN="LEFT" STYLE="text-indent: 15pt"><FONT face="Times New Roman" size=2>Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this
report to be signed on its behalf by the undersigned hereunto duly authorized.
</FONT></P>
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    <TD noWrap align=left width="64%"><B><FONT face="Times New Roman" size=2>TRANSCAT, INC.</FONT></B></TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
  <TR>
    <TD width="99%" colSpan=4>&nbsp;</TD></TR>
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    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>Dated:&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD noWrap align=left width="33%"><FONT face="Times New Roman" size=2>March 31, 2016</FONT></TD>
    <TD noWrap align=left width="1%"><FONT face="Times New Roman" size=2>By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></TD>
    <TD style="BORDER-BOTTOM: #000000 1pt solid" noWrap align=left width="64%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;/s/ Lee D. Rudow</FONT></TD></TR>
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    <TD noWrap align=left width="33%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="64%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;Lee
      D. Rudow</FONT></TD></TR>
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    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="33%"></TD>
    <TD noWrap align=left width="1%"></TD>
    <TD noWrap align=left width="64%"><FONT face="Times New Roman" size=2>&nbsp;&nbsp;President and Chief Executive
  Officer</FONT></TD></TR></TABLE><BR>
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