UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 27, 2018
(Exact name of registrant as specified in its charter)
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Delaware
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0-21121
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06-1456680
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(State or other jurisdiction of incorporation)
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(Commission file number)
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(I.R.S. employer identification no.)
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One Hamden Center
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2319 Whitney Ave, Suite 3B, Hamden, CT
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06518
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(Address of principal executive offices)
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(Zip Code)
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Registrant's telephone number, including area code: (203) 859-6800
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:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240-14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 27, 2018, the Board of Directors (the “Board”) of TransAct Technologies Incorporated (the “Company”) appointed Haydee Olinger to serve as a director of the Company. A press release announcing Ms. Olinger's appointment is attached as Exhibit 99.1 to this Current Report on Form 8-K.
There are no arrangements or understandings between Ms. Olinger and any other persons pursuant to which she was selected as a director, and she has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Ms. Olinger has been appointed to the Audit Committee, the Compensation and Corporate Governance Committee, the Nominating Committee and the Executive Committee.
Ms. Olinger will participate in the current director compensation arrangements applicable to non-employee directors. Under the terms of those arrangements, Ms. Olinger will receive a retainer of $10,000 for each fiscal quarter served as director as compensation for services rendered, will be reimbursed for reasonable out-of-pocket expenses associated with her service on the Board and will receive an annual grant of restricted stock units with a fair value at the date of grant of $45,000, pursuant to the terms of the Company’s 2014 Equity Incentive Plan.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
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Exhibit
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Description
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99.1
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Press Release dated July 31, 2018 of TransAct Technologies Incorporated
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SIGNATURE
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.
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TRANSACT TECHNOLOGIES INCORPORATED
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By:
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/s/David B. Peters
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David B. Peters
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Vice President & Chief Accounting Officer
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Date: July 31, 2018
HAYDEE OLINGER APPOINTED TO TRANSACT TECHNOLOGIES' BOARD OF DIRECTORS
Proven Executive with More than 30 Years of Restaurant Industry Expertise Joins TransAct's Board
Hamden, CT – July 31, 2018 – TransAct Technologies Incorporated (Nasdaq: TACT), a global leader in software-driven technology and printing solutions for high-growth markets, announced today that Haydee Olinger has been appointed to the Company's Board of Directors, effective Friday July 27, 2018. The appointment of Ms. Olinger to TransAct's Board of Directors increases the size of the Board to five members, four of whom are considered independent directors under Nasdaq rules.
Ms. Olinger served in senior management roles for more than twenty years at the McDonald's Corporation, most recently as Global Chief Compliance and Privacy Officer from 2002 to 2015. During her time at McDonald's, Haydee developed and deployed a broad-sweeping compliance and privacy program to better manage enterprise-wide financial, legal, human resource, and loss of reputation risks. Her initiatives have been rolled out globally, increasing policy adherence, achieving operational consistency, and bolstering financial results.
Haydee Olinger has expansive international experience having been responsible for leading teams consisting of finance, franchise, tax and operations personnel in the implementation of various strategies within many of McDonald's markets in Europe, Asia and Latin America. Acknowledged as an effective business strategist and master negotiator with strong people skills, Haydee is also credited with playing an instrumental role in McDonald's entry and ongoing growth throughout multiple Latin America markets.
Ms. Olinger earned both her Juris Doctor and Bachelor of Science in Management and Business Administration degrees at DePaul University. Additionally, she earned a Master of Science in leadership and Business Ethics at Duquesne University. She currently serves on the boards of DePaul University Institute of Business and Professional Ethics and the Illinois Lottery Control Board.
"With her extensive restaurant industry experience and track record of success, I am delighted to welcome Haydee to our Board of Directors," said Bart Shuldman, Chairman and Chief Executive Officer of TransAct. "Her direct knowledge and understanding of the global restaurant industry with deep operations and legal expertise will prove valuable to TransAct as we continue to look to further develop and exploit the large restaurant solutions market opportunity for our Company. The entire TransAct Board of Directors looks forward to working with Haydee as we further position the Company for long-term growth."
About TransAct Technologies Incorporated
TransAct Technologies Incorporated is a global leader in developing software-driven technology and printing solutions for high-growth markets including restaurant solutions, POS automation, casino and gaming, lottery, and oil and gas. The Company's solutions are designed from the ground up based on customer requirements and are sold under the AccuDate™, EPICENTRAL®, Epic®, Ithaca®, and Printrex® brands. TransAct has over 3.0 million printers and terminals installed around the world and is committed to providing world-class service, spare parts and accessories to support its installed product base. Through the TransAct Services Group, the Company also provides customers with a complete range of supplies and consumable items both online at http://www.transactsupplies.com and through its direct sales team. TransAct is headquartered in Hamden, CT. For more information, please visit http://www.transact-tech.com or call (203) 859-6800.
Investor Contact:
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Steve DeMartino
President and Chief Financial Officer
TransAct Technologies Incorporated
203-859-6810
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Richard Land, Joseph Jaffoni, Jim Leahy
JCIR
212-835-8500 or tact@jcir.com
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