- Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * McGrogan Susan	2. Issuer Name and Ticker or Trading Symbol TRANSCEND SERVICES INC [ TRCR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                      _____ 10% Owner __ X __ Officer (give title below)      _____ Other (specify below) President/COO
(Last)          (First)          (Middle) ONE GLENLAKE PARKWAY, SUITE 1325	3. Date of Earliest Transaction (MM/DD/YYYY) 4/23/2012
(Street) ATLANTA, GA 30328 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _ X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, Par Value $.05	4/24/2012	4/24/2012	M		5000	A	$2.00	262317	D
Common Stock, Par Value $.05	4/24/2012	4/24/2012	M		15000	A	$2.95	277317	D
Common Stock, Par Value $.05	4/24/2012	4/24/2012	M		30000	A	$3.40	307317	D
Common Stock, Par Value $.05	4/24/2012	4/24/2012	M		20000	A	$9.98	327317	D
Common Stock, Par Value $.05	4/24/2012	4/24/2012	M		9374	A	$11.75	336691	D
Common Stock, Par Value $.05	4/24/2012	4/24/2012	S		15801	D	$29.49	320890	D

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option to Purchase Common Stock, Par Value $.05	$2.00	4/23/2012	4/24/2012	M			1250	11/10/2006	11/10/2015	Common Stock, Par Value $.05	1250	$2.00	113750	D
Option to Purchase Common Stock, Par Value $.05	$2.00	4/23/2012	4/24/2012	M			1250	11/10/2007	11/10/2015	Common Stock, Par Value $.05	1250	$2.00	112500	D
Option to Purchase Common Stock, Par Value $.05	$2.00	4/23/2012	4/24/2012	M			1250	11/10/2008	11/10/2015	Common Stock, Par Value $.05	1250	$2.00	111250	D
Option to Purchase Common Stock, Par Value $.05	$2.00	4/23/2012	4/24/2012	M			1250	11/10/2009	11/10/2015	Common Stock, Par Value $.05	1250	$2.00	110000	D
Option to Purchase Common Stock, Par Value $.05	$2.95	4/23/2012	4/24/2012	M			5000	6/30/2005	1/31/2015	Common Stock, Par Value $.05	5000	$2.95	105.000	D
Option to Purchase Common Stock, Par Value $.05	$2.95	4/23/2012	4/24/2012	M			5000	6/30/2006	1/31/2015	Common Stock, Par Value $.05	5000	$2.95	100000	D
Option to Purchase Common Stock, Par Value $.05	$2.95	4/23/2012	4/24/2012	M			5000	6/30/2007	1/31/2015	Common Stock, Par Value $.05	5000	$2.95	95000	D
Option to Purchase Common Stock, Par Value $.05	$3.40	4/23/2012	4/24/2012	M			7500	12/15/2007	12/15/2016	Common Stock, Par Value $.05	7500	$3.40	875000	D
Option to Purchase Common Stock, Par Value $.05	$3.40	4/23/2012	4/24/2012	M			7500	12/15/2008	12/15/2016	Common Stock, Par Value $.05	7500	$3.40	80000	D
Option to Purchase Common Stock, Par Value $.05	$3.40	4/23/2012	4/24/2012	M			7500	12/15/2009	12/15/2016	Common Stock, Par Value $.05	7500	$3.40	72500	D
Option to Purchase Common Stock, Par Value $.05	$3.40	4/23/2012	4/24/2012	M			7500	12/15/2010	12/15/2016	Common Stock, Par Value $.05	7500	$3.40	65000	D
Option to Purchase Common Stock, Par Value $.05	$9.98	4/23/2012	4/24/2012	M			5000	3/12/2009	3/12/2018	Common Stock, Par Value $.05	5000	$9.98	60000	D
Option to Purchase Common Stock, Par Value $.05	$9.98	4/23/2012	4/24/2012	M			5000	3/12/2010	3/12/2018	Common Stock, Par Value $.05	5000	$9.98	55000	D
Option to Purchase Common Stock, Par Value $.05	$9.98	4/23/2012	4/24/2012	M			5000	3/12/2011	3/12/2018	Common Stock, Par Value $.05	5000	$9.98	50000	D
Option to Purchase Common Stock, Par Value $.05	$9.98	4/23/2012	4/24/2012	M			5000	3/12/2012	3/12/2018	Common Stock, Par Value $.05	5000	$9.98	45000	D
Option to Purchase Common Stock, Par Value $.05	$11.75	4/23/2012	4/24/2012	M			3124	7/29/2009	7/29/2018	Common Stock, Par Value $.05	3124	$11.75	41876	D
Option to Purchase Common Stock, Par Value $.05	$11.75	4/23/2012	4/24/2012	M			3125	7/29/2010	7/29/2018	Common Stock, Par Value $.05	3125	$11.75	38751	D
Option to Purchase Common Stock, Par Value $.05	$11.75	4/23/2012	4/24/2012	M			3125	7/29/2011	7/29/2018	Common Stock, Par Value $.05	3125	$11.75	35626	D

Explanation of Responses:

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
McGrogan Susan ONE GLENLAKE PARKWAY SUITE 1325 ATLANTA, GA 30328			President/COO

Signatures
Larry G. Gerdes as Power of Attorney for Susan McGrogan		4/26/2012
** Signature of Reporting Person		Date

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:	File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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