secwatch.observer — SEC 8-K summary
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Issuer:     PAR TECHNOLOGY CORP (PAR)
CIK:        0000708821
Form:       8-K
Filed at:   2021-11-30T23:59:59+00:00
Accession:  0001140361-21-039783
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

PAR Technology subsidiary president resigns; Michael Nelson appointed new President of PAR Government
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- Matthew Cicchinelli resigned as President of PAR Government effective Nov 29, 2021; will serve as senior advisor through Jan 15, 2022.
- Michael Nelson appointed President effective Nov 30, 2021; previously VP at Riverside Research Institute since 2001.
- Nelson receives $325,000 base salary, STI target 40% of base, LTI target 20% of base, and $135,000 signing bonus with one-year clawback.
- Severance: 4 months base salary without cause; 6 months if termination without cause in connection with change of control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/708821/000114036121039783/0001140361-21-039783-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/708821/000114036121039783/brhc10031309_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-21-039783

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer