Form 4: PAR Technology Corp: CLO & Corporate Secretary Cathy A. King Reports Stock Transactions
SEC Form 4 Filing
Cathy A. King, CLO & Corporate Secretary of PAR Technology Corp, reports acquisition of 18,256 shares of common stock and disposition of 3,743 shares to cover tax obligations.
Summary
- On February 29, 2024, Cathy A. King, CLO & Corporate Secretary of PAR Technology Corp, acquired 18,256 shares of common stock.
- These shares were granted as restricted stock units that vest in three equal installments on March 1, 2025, 2026, and 2027.
- On March 1, 2024, Ms. King disposed of 3,743 shares of common stock at a price of $42.95 per share.
- These shares were withheld to cover the tax obligations arising from the vesting of restricted stock units granted on March 4, 2022, and March 3, 2023.
- Following these transactions, Ms. King directly owns 47,643 shares of PAR Technology Corp common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing primarily reflects routine stock transactions related to executive compensation. The acquisition of shares through restricted stock units is a positive sign, but the sale of shares to cover tax obligations is a normal occurrence.
Positives
- The grant of restricted stock units to a key executive aligns their interests with the long-term performance of the company.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are often monitored by investors to gauge management's confidence in the company's future prospects.
Stakeholder Impact
- The stock transactions may have a minor impact on shareholders, as they reflect changes in insider ownership.
Key Dates
| Date | Description |
|---|---|
| 2022/03/04 | Date of a previous restricted stock unit grant. |
| 2023/03/03 | Date of a previous restricted stock unit grant. |
| 2024/02/29 | Date of acquisition of 18,256 shares of common stock. |
| 2024/03/01 | Date of disposition of 3,743 shares of common stock for tax obligations. |
| 2025/03/01 | First vesting date for 1/3 of the restricted stock units granted on February 29, 2024. |
| 2026/03/01 | Second vesting date for 1/3 of the restricted stock units granted on February 29, 2024. |
| 2027/03/01 | Final vesting date for 1/3 of the restricted stock units granted on February 29, 2024. |
| 2024/03/04 | Date of signature for the Form 4 filing. |
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