#1 This restricted stock award was granted under the Transcat, Inc. 2021 Stock Incentive Plan in a transaction exempt under Rule 16b-3 and vested immediately upon grant.

#2 Shares withheld to cover tax withholding obligations upon the vesting of a restricted stock award.

#1 This price represents the weighted average purchase price (rounded to the nearest cent) for multiple transactions reported on this line. The prices of the transactions reported on this line ranged from $23.93 to $24.11. Upon request by the Commission staff, the issuer or a security holder of the issuer, the reporting person will undertake to provide full information regarding the number of shares purchased at each separate price.

#1 The reporting person was granted restricted stock units ("RSUs"), which represent a contingent right to receive one share of Common Stock, par value $.01 per share, of the issuer for each RSU. These RSUs vest in full on the third anniversary of the date of grant; provided that the reporting person remains in continuous service through the vesting date.

#2 The reporting person was granted RSUs, which represent a contingent right to receive one share of Common Stock, par value $.01 per share, of the issuer for each RSU. The RSUs vest 1/3 on the first anniversary of the date of grant, 1/3 on January 31, 2026 and 1/3 on January 31, 2027; provided, however, that the reporting person remains in continuous service through the vesting date.