Form 4: PAR Technology Corp Executive Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Cathy A. King, CLO & Corporate Secretary of PAR Technology Corp, sold 665 shares of common stock on March 31, 2024, to cover tax obligations arising from vesting restricted stock units.
Summary
- On March 31, 2024, Cathy A. King, the CLO & Corporate Secretary of PAR Technology Corp, disposed of 665 shares of common stock.
- The transaction was executed to cover tax obligations related to the vesting of restricted stock units granted on March 18, 2021.
- The shares were sold at a price of $45.36 per share.
- Following the transaction, Cathy A. King directly owns 46,978 shares of PAR Technology Corp.
- The transaction was reported on April 2, 2024.
Sentiment
Score: 5
Explanation: This is a neutral event. An executive sold shares to cover tax obligations, which is a common practice.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction appears to be a standard sale to cover tax obligations related to equity compensation.
Stakeholder Impact
- The sale is unlikely to have a significant impact on shareholders, as it is a small percentage of the total outstanding shares and is related to tax obligations.
Key Dates
| Date | Description |
|---|---|
| 03/18/2021 | Date of grant for the restricted stock units that led to the tax obligation. |
| 03/31/2024 | Date of the transaction (sale of shares). |
| 04/02/2024 | Date the Form 4 was signed. |
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