secwatch.observer — SEC 8-K summary
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Issuer:     TRANSACT TECHNOLOGIES INC (TACT)
CIK:        0001017303
Form:       8-K
Filed at:   2022-12-27T23:59:59+00:00
Accession:  0001214659-22-015376
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

TransAct Technologies amends CEO Bart Shuldman's employment agreement
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- No change to CEO compensation; base salary $573,886/yr and 2022 bonus target of 75% unchanged.
- Agreement updates prior 1996 contract to comply with current law and clarify severance/restrictive covenant provisions.
- Initial 2-year term with auto-renewal; without-cause severance: 2 years base salary, 18 months COBRA, prorated bonus.
- Under Change in Control termination within 12 mo: 3 years base+bonus, 18 months COBRA, immediate full equity vesting at 100% target.
- Restrictive covenants: 2-year non-compete worldwide, non-solicit of customers/employees, enforceable by injunction.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1017303/000121465922015376/0001214659-22-015376-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1017303/000121465922015376/b12232208k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-22-015376

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer