SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                  SCHEDULE 13D
                    Under the Securities Exchange Act of 1934
                               (Amendment No. 2) *

                       TRANSACT TECHNOLOGIES INCORPORATED
                                (Name of Issuer)

                                  COMMON STOCK
                         (Title of Class of Securities)

                                    892918103
                                 (CUSIP Number)

SILVERMAN,  COLLURA,  CHERNIS & BALZANO, P.C., 381 Park Avenue South Suite 1601,
NY, NY 10016

                    Attn: Michael H. Freedman (212) 779-8600

(Name,  Address and Telephone Number of Person Authorized to Receive Notices and
Communications)

                                  June 5, 1997
             (Date of Event which Requires Filing of this Statement)

If the filing person has previously  filed a statement on Schedule 13G to report
the  acquisition  which is the subject of this  Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].

Note: Six copies of this statement, including all exhibits, should be filed with
the  Commission.  See Rule  13d-l(a) for other  parties to whom copies are to be
sent.

* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for  any  subsequent   amendment   containing   information  which  would  alter
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).



CUSIP No. 892918103

- --------------------------------------------------------------------------------
     1) Names of Reporting Person and Social Security Number

          Jack Silver

- --------------------------------------------------------------------------------
     2) Check the Appropriate Box if a Member of a Group (See Instructions)

          (a)        N/A
          (b)        N/A

- --------------------------------------------------------------------------------
     3) SEC Use Only

- --------------------------------------------------------------------------------
     4) Source of Funds      AF  PF  OO

- --------------------------------------------------------------------------------
     5) Check if Disclosure of Legal  Proceedings is Required  Pursuant to Items
        2(d) or 2(e)

- --------------------------------------------------------------------------------
     6) Citizenship or Place of Organization      U.S.A.

- --------------------------------------------------------------------------------

Number of Shares             (7) Sole Voting Power       0 Common Shares
Beneficially
Owned by Each                ---------------------------------------------------
Reporting Person             (8) Shared Voting Power     N/A
With
                             ---------------------------------------------------
                             (9) Sole Dispositive Power  0 Common Shares

                             ---------------------------------------------------
                             (10) Shared Dispositive Power N/A

- --------------------------------------------------------------------------------
11) Aggregate Amount Beneficially Owned by Each Reporting Person 0 Common Shares

- --------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares  N/A

- --------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11)      N/A

- --------------------------------------------------------------------------------
14) Type of Reporting Person       IN




- --------------------------------------------------------------------------------
Item 1.   Security and Issuer

     a.   The title of the class of equity  securities  to which this  statement
          relates is Common Stock

     b.   The name and address of the principal executive officers of the issuer
          of such securities is

          Transact Technologies, Inc., 7 Laser Lane, Wallingford, CT 06492

Item 2.   Identity and Background

     (a)  Jack Silver

     (b)  660 Madison Avenue, 15th Floor, New York, NY 10021

     (c)  Investor - Sherleigh  Associates,  660 Madison Avenue, 15th Floor, New
     York, New York 10021

     (d)  During the last five years,  I have not been  convicted  in a criminal
     proceeding.

     (e)  During  the  last  five  years  I have  not  been a  party  to a civil
     proceeding of a judicial or administrative  body of competent  jurisdiction
     and I am not  subject  to a  judgment,  decree  or  final  order  enjoining
     violations of, or prohibiting or mandating activities subject to federal or
     state  securities  laws or finding of any  violation  with  respect to such
     laws.

     (f)  U.S.A.

Item 3.   Source and Amount of Funds or Other Consideration

          N/A

Item 4.   The Purpose of Transaction

          N/A

Item 5.   Interest in Securities of the Issuer

          (a)  Mr.  Silver does not  beneficially  own any Common  Shares of the
issuer.

          (b)  Not applicable.

          (c)  The following is a description of Mr. Silver's sales in the class
of securities reported herein that were affected during the past 60 days:

          Owner                               Amount           Net Proceeds
          -----                               ------           ------------

          Jack Silver                         185,132           $3,283,744



          Jack Silver and
           Shirley Silver Foundation           35,025           $  636,896
          Shirly Silver C/F
           Leigh Silver                        10,050           $  187,061
          Shirley Silver C/F
           Romy Silver                         10,050           $  187,061
          Shirley Silver Trust
           FBO Leigh Silver                    17,536           $  331,884
          Shirley Silver Trust
           FBO Romy Silver                     17,536           $  331,884
          Sherleigh Associates                 20,100           $  342,642
          Sherleigh Associates
           Defined Benefit Pension             62,790           $1,170,670
          Sherleigh Associates
           Profit Sharing Plan                230,350           $4,015,438

     The  foregoing  sales were  consummated  via brokerage  transactions  which
occurred within the 60 day period predating this filing.

          (d) There is no other person known to have the right to receive or the
power to direct the receipt of dividends  from or proceeds from the sale of such
securities.

          (e) On  September  30,  1997,  the  reporting  person  ceased  to be a
beneficial owner of more than 5% of the Common Shares.

Item 6.   Contracts, Arrangements, Understandings or Relationships
          with Respect to Securities of the Issuer

     On June 5, 1997, Sherleigh Associates,  LLC ("Sherleigh"),  an affiliate of
Mr. Silver, entered into a financial consulting agreement with Clayton, Dubilier
& Rice,  Inc.  ("CDR")  in  connection  with CDR's  consideration  of a possible
acquisition of the issuer by Lexmark International, Inc. The agreement's term is
one year and  provides  for a fee to be paid to  Sherleigh  equal to 1.1% of the
"transaction  consideration" (aggregate dollar amount of the consideration to be
paid for the investment by CDR,  including cash,  securities,  real and personal
property). Sherleigh is to be reimbursed for reasonable accountable expenses.

Item 7.   Material to be Filed as Exhibits.

               N/A



After  reasonable  inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

December 19, 1997
- -----------------------------------------------
Date

      /s/ Jack Silver
- -----------------------------------------------
Signature

        JACK SILVER
- -----------------------------------------------
Name/Title

The  original  statement  shall be signed by each  person  on whose  behalf  the
statement is filed or his authorized representative.  If the statement is signed
on behalf of a person by his authorized  representative (other than an executive
officer  or  general   partner  of  this   filing   person),   evidence  of  the
representative's  authority to sign on behalf of such person shall be filed with
the  statement,  provided,  however,  that a power of attorney  for this purpose
which is already on file with the Commission may be  incorporated  by reference.
The name and any title of each person who signs the statement  shall be typed or
printed beneath his signature.

Attention:  Intentional  misstatements  or omissions of fact constitute  Federal
criminal violations (See 18 U. S. C. 1001).