Form 4: PAR Technology Director Russo Acquires Shares as Part of Retainer Agreement

Director Cynthia A. Russo acquired 3,395 shares of PAR Technology Corp. common stock as part of her non-employee director annual retainer.

Summary

• On August 12, 2024, Cynthia A. Russo, a director of PAR Technology Corporation, acquired 3,395 shares of common stock.
• The acquisition was part of the equity portion of her 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 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, Russo beneficially owns 48,720 shares of PAR Technology Corp.
• The transaction was signed off by Cathy A. King, Attorney-in-Fact, on August 13, 2024.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a routine transaction (director share acquisition) that aligns director interests with shareholders.

Positives

• The acquisition of shares by a director can be seen as a positive sign, indicating confidence in the company's future prospects.
• The vesting schedule of the RSUs aligns the director's interests with those of the shareholders, encouraging long-term value creation.

Future Outlook

The document does not contain specific forward-looking statements beyond the RSU vesting schedule.

Industry Context

Director share acquisitions are common practice and are often used to align the interests of board members with those of shareholders. This transaction is a standard part of director compensation.

Comparison to Industry Standards

• Director compensation packages often include equity grants to align their interests with shareholders, similar to practices at companies like NCR Corporation and Toast, Inc.
• The vesting schedule of 12 months or until the next annual meeting is a typical arrangement, comparable to equity grants at Block, Inc. and Shift4 Payments, Inc.

Related Party Transactions

• The grant of shares to Cynthia A. Russo as part of her director compensation constitutes a related party transaction.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the director's interests with theirs.
• The transaction has a positive impact on the director as it is part of their compensation.

Key Dates