---
schema_version: "secwatch.filing_event.v1"
accession: "0001214659-23-006506"
form_type: "8-K"
ticker: "TACT"
cik: "0001017303"
company_name: "TRANSACT TECHNOLOGIES INC"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T19:16:17.650640+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.4
calibrated_materiality_score: 0.4
confidence: "high"
source: SEC EDGAR
---

# TransAct amends loan agreement replacing Shuldman with Dillon as CEO, avoids default

## Summary
- Loan covenant required a successor CEO acceptable to lender within 60 days of Shuldman's departure.
- Amendment replaces 'Bart Shuldman' with 'John M. Dillon' in Section 7.1(m)(i) of the Loan Agreement.
- Siena Lending Group confirmed Dillon as an acceptable successor, avoiding an event of default.
- No changes to revolving commitment amount, interest rate, or other loan terms.
- CEO transition: Bart Shuldman resigned, John M. Dillon appointed by board.

## SEC filing metadata
- accession: 0001214659-23-006506
- form_type: 8-K
- ticker: TACT
- cik: 0001017303
- company_name: TRANSACT TECHNOLOGIES INC
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.4
- calibrated_materiality_score: 0.4
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1017303/000121465923006506/0001214659-23-006506-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1017303/000121465923006506/o542308k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001214659-23-006506
- JSON: https://secwatch.observer/filing/0001214659-23-006506.json
- Plain text: https://secwatch.observer/filing/0001214659-23-006506.txt

## Key facts
- Material Agreements
  TRANSACT TECHNOLOGIES INC amended Amendment with Siena Lending Group LLC (effective 2023-05-01).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Siena Lending Group LLC
  - Effective: 2023-05-01
  source text: On May 1, 2023, TransAct Technologies Incorporated (the “Company”) and Siena Lending Group LLC (the “Lender”) entered into a letter agreement (the “Amendment”) amending the Loan and Security Agreement, dated as of March 13, 2020, between the Lender and the Company, as amended (the “Loan Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1017303/000121465923006506/0001214659-23-006506-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.