Release Details
TRANSACT TECHNOLOGIES CEO AND TWO BOARD MEMBERS ENTER INTO 10b5-1 SALES PLANS
HAMDEN, CT - March 19, 2010 - TransAct Technologies Incorporated (NASDAQ: TACT), a global leader in market-specific printers for transaction-based industries, today announced that Bart C. Shuldman, Chairman, President and Chief Executive Officer, and two of the Company's directors, Thomas Schwarz and Graham Tanaka, have entered into 10b5-1 sales plans for the sale of shares of TransAct common stock. The plans were entered into due to the nearing expiration of stock options.
Mr. Shuldman commented, "The decision to enter into these plans was due to stock options nearing expiration and the desire to create an orderly sale of the underlying shares. The sale of these shares do not take away from our optimism for TransAct's future results."
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually spread stock trades over a period of time regardless of any material, non-public information they may receive after adopting their plans. In accordance with 10b5-1 rules, Mr. Shuldman, Mr. Schwarz and Mr. Tanaka will have no discretion over sales under their respective plans.
About TransAct Technologies Incorporated.
TransAct Technologies Incorporated (NASDAQ: TACT) is a leader in developing and manufacturing market-specific printers for transaction-based industries. These industries include casino, gaming, lottery, banking, kiosk and point-of-sale. Each individual market has distinct, critical requirements for printing and the transaction is not complete until the receipt and/or ticket is produced. TransAct printers are designed from the ground up based on market specific requirements and are sold under the Ithaca® and Epic product brands. TransAct distributes its printers through OEMs, value-added resellers, selected distributors, and direct to end-users. TransAct has over two million printers installed around the world. TransAct is committed to world-class printer service, spare parts and accessories required by a growing worldwide installed base of printers. Beyond printers, TransAct is a leader in providing printing supplies to the full transaction printer market. Through its TransAct Services Group, TransAct provides a complete range of supplies and consumables items used in the printing and scanning activities of customers in the hospitality, banking, retail, gaming and government markets. Through its webstore, http://www.transactsupplies.com, and a direct selling team, TransAct addresses the growing on-line demand for these products. TransAct is headquartered in Hamden, CT. For more information on TransAct, visit http://www.transact-tech.com or call 203.859.6800.
Contact:
TransAct Technologies Incorporated
Steven DeMartino, EVP and Chief Financial Officer
203-859-6810
ICR Inc.
William Schmitt
203-682-8200