Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 11, 2013, Nancy D. Hessler, a director of Transcat, Inc. (the “Company”) whose term will expire at the 2013 annual meeting of shareholders, advised the Company that she will not be standing for re-election at the 2013 annual meeting.
Item 8.01 Other Events.
On July 10, 2013, the Company repurchased 100,000 shares of its common stock from an unaffiliated shareholder in a privately-negotiated transaction for $7.00 per share. The transaction, which reflects the Company’s belief in the investment value of its common stock, was authorized by the board of directors and complies with the terms of the Company’s current credit facility.