secwatch.observer — SEC 8-K summary
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Issuer:     PAR TECHNOLOGY CORP (PAR)
CIK:        0000708821
Form:       8-K
Filed at:   2022-03-18T23:59:59+00:00
Accession:  0000708821-22-000031
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PAR Technology amends CEO Singh's compensation: base salary $620k, new bonus targets, revised performance metrics
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- Base salary increased to $620,000 for CEO Savneet Singh.
- FY 2022 short-term incentive bonus: threshold (85% achievement) pays 50% bonus, target (100%) pays 100%, maximum (130%) pays 160%.
- Performance-vesting RSUs for 2022-2023 now based on Annual Recurring Revenue and ARR Gross Margin, replacing narrower Restaurant ARR metrics.
- Annual Recurring Revenue defined as annualized SaaS/related revenue plus payment processing net of expenses; Gross Margin excludes amortization of acquired/developed tech.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/708821/000070882122000031/0000708821-22-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/708821/000070882122000031/par-20220316.htm
  HTML page:      https://secwatch.observer/filing/0000708821-22-000031

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