X0201 42003-08-19 0000099302 TRANSCAT INC TRNS 0001231776 MURPHY CORNELIUS J C/O TRANSCAT, INC. 35 VANTAGE POINT DRIVE ROCHESTER NY 14624 1000Common Stock, $.50 par value2003-08-194A030660A64128DWarrant (Right to Buy)3.06252003-08-182004-08-17Common Stock, par value $.50 per share40004000DWarrant (Right to Buy)2.90622005-08-15Common Stock, par value $.50 per share40004000DWarrant (Right to Buy)2.002006-08-21Common Stock, par value $.50 per share40004000DWarrant (Right to Buy).972007-08-19Common Stock, par value $.50 per share40004000DWarrant (Right to Buy)2.312003-08-204A040000A2008-08-19Common Stock, par value $.50 per share40004000DAutomatic grant pursuant to the Transcat, Inc. Directors' Stock Plan in a transaction exempt under Rule 16b-3. For awards granted after 4/1/02, Mr. Murphy has elected to defer receipt of all shares credited to his participant stock account under the Directors' Stock Plan until the expiration of the deferral period, at which time the shares will be issued pursuant to the terms of his prior election.This non-transferable warrant was previously reported by Mr. Murphy.This non-transferable warrant was previously reported by Mr. Murphy. Mr. Murphy can exercise this warrant in cumulative increments of 1,000 shares after each of the following dates, providing the market price of the Company's Common Stock meets or exceeds, for 20 of 30 consecutive trading days, the following respective amounts: 8/16/00--$5.50; 1/1/01--$7.50; 1/1/02--$10.50; 1/1/03--$15.00; to the extent such market price requirements are not satisfied, the balance of the warrant becomes exercisable on 8/16/04.This non-transferable warrant was previously reported by Mr. Murphy. Mr. Murphy can exercise this warrant in cumulative increments of 1,000 shares after each of the following dates, providing the market price of the Company's Common Stock meets or exceeds, for 20 of 30 consecutive trading days, the following respective amounts: 8/22/01--$3.50; 1/1/02--$6.00; 1/1/03--$9.00; 1/1/04--$13.50; to the extent such market price requirements are not satisfied, the balance of the warrant becomes exercisable on 8/22/05.This non-transferable warrant was previously reported by Mr. Murphy. Mr. Murphy can exercise this warrant in cumulative increments of 1,000 shares after each of the following dates, providing the market price of the Company's Common Stock meets or exceeds, for 20 of 30 consecutive trading days, the following respective amounts: 8/20/02--$2.25; 1/1/03--$3.50; 1/1/04--$5.25; 1/1/05--$7.50; to the extent such market price requirements are not satisfied, the balance of the option becomes exercisable on 8/20/06.This non-transferable warrant was granted under the Transcat, Inc. Amended and Restated Directors' Warrant Plan in a transaction exempt under Rule 16b-3. Mr. Murphy can exercise this warrant in cumulative increments of 1,000 shares after each of the following dates, providing the market price of the Company's Common Stock meets or exceeds, for 20 of 30 consecutive trading days, the following respective amounts: 8/20/03--$3.50; 1/1/04--$5.00; 1/1/05--$6.50; 1/1/06--$7.00; to the extent such market price requirements are not satisfied, the balance of the option becomes exercisable on 8/20/07.Cornelius J. Murphy2003-08-21