Form 4: PAR Technology Director Narinder Singh Acquires Shares as Part of Retainer

Director Narinder Singh acquired 3,395 shares of PAR Technology Corp. stock as part of his non-employee director annual retainer.

Summary

• On August 12, 2024, Narinder Singh, a director of PAR Technology Corporation, acquired 3,395 shares of common stock.
• The acquisition was part of the equity portion of his non-employee director annual retainer for a term commencing June 3, 2024.
• These shares were granted as time-vesting restricted stock units (RSUs) under the Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan.
• The RSUs will vest 100% on the earlier of (a) 12 months from the grant date or (b) the date of the Company's 2025 annual meeting of stockholders.
• Following the transaction, Singh beneficially owns 14,289 shares of PAR Technology Corp.
• The transaction was reported on August 13, 2024, by Cathy A. King, Attorney-in-Fact.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a standard transaction of a director receiving stock as part of their compensation, which is generally viewed as a positive alignment of interests.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future prospects.

Future Outlook

The vesting of the RSUs is contingent on time and the company's 2025 annual meeting, aligning the director's interests with the company's performance.

Industry Context

Director stock ownership is a common practice in publicly traded companies to align the interests of management with those of shareholders. This filing reflects standard compensation practices for non-employee directors.

Comparison to Industry Standards

• Granting stock options or RSUs to directors is a common practice among publicly traded companies, including PAR Technology's competitors in the restaurant and retail technology space, such as NCR Corporation and Toast, Inc.
• The vesting schedule of 12 months or until the next annual meeting is also typical, aligning director compensation with short-term company performance and shareholder value.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder sentiment, as it demonstrates confidence in the company's prospects.

Next Steps

• The RSUs will vest according to the specified schedule, either 12 months from the grant date or at the 2025 annual meeting of stockholders.

Key Dates