TransAct CEO Bart Shuldman resigns; board member John Dillon named interim CEO; FY2023 guidance reaffirmed

TRANSACT TECHNOLOGIES INC

Bart Shuldman stepped down as CEO and director effective April 4, 2023, after 27 years.
John M. Dillon, board member since 2011, appointed interim CEO; $600K base salary, $200K target bonus, equity awards.
Board reduced from 7 to 6; committee chairs reassigned: Hilario to Audit, Friedman to Compensation, Olinger to Nominating.
Company reiterates FY2023 guidance: revenue $70-72M, adjusted EBITDA $5.2-5.4M.
No disagreement with Shuldman's departure; company cites 'position of strength'.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed (interim)

John M. Dillon

Interim Chief Executive Officer

TACT · TRANSACT TECHNOLOGIES INC

Effective: 2023-04-04
Filed: April 5, 2023, 7:59 PM ET

On April 4, 2023, the Board appointed John M. Dillon, a Board member, to serve as interim Chief Executive Officer of the Company, effective as of the Effective Time.

Departed

Bart C. Shuldman

Chief Executive Officer

TACT · TRANSACT TECHNOLOGIES INC

Effective: 2023-04-04
Successor: John M. Dillon
Filed: April 5, 2023, 7:59 PM ET

On April 5, 2023, TransAct Technologies Incorporated (the “Company”) announced that on April 4, 2023, Bart C. Shuldman had stepped down as the Company’s Chief Executive Officer and as a director of the Company, effective immediately (the “Effective Time”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

John M. Dillon was appointed as Interim Chief Executive Officer at TRANSACT TECHNOLOGIES INC.

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

On April 4, 2023, the Board appointed John M. Dillon, a Board member, to serve as interim Chief Executive Officer of the Company, effective as of the Effective Time.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Bart C. Shuldman departed as Chief Executive Officer at TRANSACT TECHNOLOGIES INC.

Action: stepped down
Role: Chief Executive Officer

Exact text from the filing

On April 5, 2023, TransAct Technologies Incorporated (the “Company”) announced that on April 4, 2023, Bart C. Shuldman had stepped down as the Company’s Chief Executive Officer and as a director of the Company, effective immediately (the “Effective Time”).

View on SEC.gov

TRANSACT TECHNOLOGIES INC filing history →

Source: SEC EDGAR

accession 0001214659-23-004983

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