Business
Bart C. Shuldman, Former CEO and Concerned Shareholder of TransAct Technologies, Issues Open Letter to Board and Fellow Shareholders
HAMDEN, Conn., April 23, 2026 (GLOBE NEWSWIRE) -- Bart C. Shuldman, former Chief Executive Officer of TransAct Technologies (NASDAQ: TACT) and a current shareholder owning approximately 93,500 shares, today issued the following open letter to the Board of Directors and fellow shareholders: To the Board of Directors and Fellow Shareholders, I write to you as the former Chief Executive Officer of TransAct Technologies (NASDAQ: TACT), where I served for 27 years, and as a current shareholder owning
About this update from Transact Technologies Incorporated
[{"type":"text","content":"HAMDEN, Conn., April 23, 2026 (GLOBE NEWSWIRE) -- Bart C. Shuldman, former Chief Executive Officer of TransAct Technologies (NASDAQ: TACT) and a current shareholder owning approximately 93,500 shares, today issued the following open letter to the Board of Directors and fellow shareholders:","length":290,"tagName":"p"},{"type":"text","content":"To the Board of Directors and Fellow Shareholders,","length":50,"tagName":"p"},{"type":"text","content":"I write to you as the former Chief Executive Officer of TransAct Technologies (NASDAQ: TACT), where I served for 27 years, and as a current shareholder owning approximately 93,500 shares.","length":187,"tagName":"p"},{"type":"text","content":"This is not the company we built.","length":33,"tagName":"p"},{"type":"text","content":"For decades, TransAct’s strategy was clear: develop differentiated products and expand into new markets where our hardware solutions solved real customer problems. That focus drove growth, created shareholder value, and established TransAct as a leader in its field.","length":266,"tagName":"p"},{"type":"text","content":"At the time of my departure on April 4, 2023, the Company had strong operational momentum. The first quarter had concluded, the business was performing well, and early traction from the BOHA! T2 platform—including engagement with major customers such as McDonald’s—reflected that progress. The Company’s shares were trading at levels materially higher than today.","length":363,"tagName":"p"},{"type":"text","content":"Over the three years since, that momentum has not been sustained.","length":65,"tagName":"p"},{"type":"text","content":"The Company has not, to my knowledge, meaningfully introduced new products, expanded into new markets, or announced significant new large-scale customer wins. The business today appears largely supported by relationships established prior to April 2023. During this same period, the Company’s share price has declined by more than 50% and has not recovered.","length":357,"tagName":"p"},{"type":"text","content":"My perspective is informed not only by my prior role, but also by my continued position as a shareholder and my observation of the Company’s performance over the past three years.","length":179,"tagName":"p"},{"type":"text","content":"The Company is now pursuing a strategy centered on expanding into software with...