Activist Gillman Demands Friedberg as Chairman and Urges Special Meeting to Elect New Directors
TACT sits 72% above its 52-week low of $3.06 on light trading volume (0.3× avg).
Summary
Activist Charles Gillman escalates his TransAct campaign, demanding Daniel Friedberg be made chairman and urging shareholders to call a special meeting to elect new directors.
Key Events · Ownership and Investor Activity · TACT
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Gillman Demands Friedberg as Chairman
Gillman asserts Daniel Friedberg effectively owns more TransAct stock than any other board member and calls on the board to make him chairman immediately.
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Special Meeting Push
Gillman states the bylaws allow a majority of voting rights to call a special meeting and urges every shareholder to consider calling one to elect additional board members.
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BOHA Strategic Review Urged
Gillman reiterates that BOHA faces unique and complicated challenges requiring an immediate, urgent review including exploration of strategic alternatives.
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Stake Unchanged at 5.1%
Gillman continues to hold 521,841 shares, representing 5.1% of the 10,276,279 shares outstanding as of April 30, 2026 per the May 13, 2026 10-Q.
Analysis · TACT · Technology
Charles Gillman's third amendment to his 13D escalates his campaign with two new demands: making Daniel Friedberg board chairman immediately and urging shareholders to call a special meeting to elect additional directors. This moves the fight from strategic review rhetoric toward concrete boardroom change, raising the odds of a proxy contest or negotiated settlement. The company is already running a strategic review of its Casino and BOHA businesses with BofA Securities, so Gillman's push for governance overhaul could accelerate a sale or break-up.
How filings like this one have moved
In the 30 days to Sep 11, 2026, 30.2% of the 1961 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.20%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, TACT was trading at $5.25 on NASDAQ in the Technology sector, with a market capitalization of approximately $54.2M. The 52-week trading range was $3.06 to $6.02. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.