Edgar Filing: TRANSCAT INC

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

SASSANO CARL E

2. Issuer Name and Ticker or Trading Symbol
TRANSCAT INC [TRNS]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

__X__ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Executive Chairman

(Last)

(First)

(Middle)

C/O TRANSCAT, INC., 35 VANTAGE POINT DRIVE

3. Date of Earliest Transaction (Month/Day/Year)
10/04/2007

(Street)

ROCHESTER, NY 14624

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		88 ⁽¹⁾	D	$ 5.75	281,036	D
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		80 ⁽¹⁾	D	$ 5.68	280,956	D
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		100 ⁽¹⁾	D	$ 5.67	280,856	D
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		100 ⁽¹⁾	D	$ 5.66	280,756	D
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		100 ⁽¹⁾	D	$ 5.62	280,656	D
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		100 ⁽¹⁾	D	$ 5.59	280,556	D
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		200 ⁽¹⁾	D	$ 5.54	280,356	D
Common Stock, $.50 par value	10/04/2007		S⁽¹⁾		6 ⁽¹⁾	D	$ 5.53	280,350	D
Common Stock, $.50 par value								3,000 ⁽²⁾	I	By wife, as custodian for son ⁽²⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$ 4.26

⁽³⁾

08/16/2015

Common Stock, $.50 par value

10,895 ⁽³⁾

Stock Option (Right to Buy)

$ 5.68

⁽⁴⁾

08/08/2016

Common Stock, $.50 par value

8,803 ⁽⁴⁾

Stock Option (Right to Buy)

$ 7.72

⁽⁵⁾

07/31/2017

Common Stock, $.50 par value

60,160 ⁽⁵⁾

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
SASSANO CARL E C/O TRANSCAT, INC. 35 VANTAGE POINT DRIVE ROCHESTER, NY 14624	X		Executive Chairman

Signatures

/s/ Carl E. Sassano		10/09/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These shares were sold pursuant to a Rule 10b5-1 stock trading plan, the adoption of which was reported in the Transcat, Inc. Current Report on Form 8-K dated August 15, 2007.
(2)	These shares are owned by Mr. Sassano's wife as custodian for their minor son. Mr. Sassano disclaims beneficial ownership of these shares.
(3)	This option was previously reported by Mr. Sassano. Mr. Sassano can exercise this option as follows: 3,632 shares on 8/16/06, 3,632 shares on 8/16/07, and 3,631 shares on 8/16/08.
(4)	This option was previously reported by Mr. Sassano. Mr. Sassano can exercise this option as follows: 2,935 shares on 8/08/07, 2,934 shares on 8/08/08, and 2,934 shares on 8/08/09.
(5)	This option was previously reported by Mr. Sassano. Mr. Sassano can exercise this option as follows: 12,032 shares on 7/30/09, 12,032 shares on 7/30/10 and 36,096 shares on 7/30/11.

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