Transcat, Inc. (NASDAQ: TRNS) announced on January 8 that its Compensation Committee approved one‑time equity retention awards for four senior executives—Thomas L. Barbato, Theresa A. Conroy, Michael J. Haddad, and Michael W. West. The awards total 47,410 restricted stock units (RSUs), with 19,772 RSUs granted to Barbato, 10,380 to Conroy, 5,190 to Haddad, and 12,028 to West. All awards vest on January 6, 2028, providing a two‑year incentive period that aligns with the company’s CEO transition timeline.
The awards are part of Transcat’s plan to preserve leadership stability as current CEO Lee D. Rudow steps down. Rudow will remain in the CEO role through March 2026, after which he will transition to an advisory position that will last until March 2027. The move is intended to keep the executive team focused on day‑to‑day operations and to support a smooth succession process.
By retaining key executives, Transcat aims to mitigate disruption during the transition and maintain momentum in its growth strategy. The RSU awards are tied solely to continued employment, ensuring that the executives remain aligned with the company’s long‑term objectives. The two‑year vesting schedule also signals confidence in the stability of the leadership team and the company’s ongoing operational performance.
Chief Financial Officer Tom Barbato said the awards reflect the company’s commitment to rewarding the executives who have driven recent growth. Chairman Gary Haseley praised Rudow’s 40‑year tenure and highlighted the awards as a way to honor the leadership that has delivered “unprecedented growth and transformative acquisitions.”
Transcat will provide an update on the CEO search during its third‑quarter fiscal 2026 conference call in early February. The company’s focus remains on identifying a successor who can continue the company’s trajectory of organic growth and strategic acquisitions while preserving the operational excellence that has defined Transcat’s market position.
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