As filed with the Securities and Exchange Commission on August 22, 2024

Registration No. 333-     
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

FORM S-8

REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933

PAR TECHNOLOGY CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware 16-1434688
(State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification No.)
PAR Technology Park, 8383 Seneca Turnpike  
 New Hartford, NY 13413-4991
(Address of Principal Executive Offices) (Zip Code)
___________________________________
AMENDED AND RESTATED PAR TECHNOLOGY CORPORATION 2015 EQUITY INCENTIVE PLAN
(Full Title of the Plan)

Cathy A. King
Chief Legal Officer and Corporate Secretary
PAR Technology Corporation
8383 Seneca Turnpike
New Hartford, NY 13413-4991
(Name and Address of Agent For Service)

(315) 738-0600
(Telephone Number, Including Area Code, of Agent For Service)

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer  ☑
Accelerated Filer  ☐
Non-Accelerated Filer  ☐
Smaller Reporting Company ☐
 
Emerging Growth Company   ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐


            
EXPLANATORY NOTE

PAR Technology Corporation (the “Registrant”) is filing this Registration Statement on Form S-8 under the Securities Act to register an additional 1,900,000 shares of its common stock, par value $.02 per share (the “Common Stock”), issuable pursuant to the terms of the Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan (the “Plan”). At the recommendation of the Registrant’s Board of Directors, the Registrant’s stockholders approved the Plan at the annual meeting of stockholders on June 3, 2024, increasing the number of shares available for issuance under the Plan by 1,900,000 shares of Common Stock. Pursuant to General Instruction E to Form S-8, this Registration Statement incorporates by reference the contents of the Registration Statements on Form S-8 filed by the Registrant with respect to the Plan on November 16, 2015 (No. 333-208063), July 9, 2019 (No. 333-232589), June 17, 2020 (No. 333-239230) and July 13, 2022 (No. 333-266121), together will all exhibits filed therewith or incorporated by reference.

PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

Item 3. Incorporation of Certain Documents by Reference.

The following documents of the Registrant, filed with the Commission, are incorporated herein by reference:

(a)    The Registrant’s Annual Report on Form 10-K for its fiscal year ended December 31, 2023, as filed with the Commission on February 27, 2024;

(b)    The portions of our Definitive Proxy Statement for the 2024 Annual Meeting of Stockholders, as filed with the Commission on April 23, 2024, that are incorporated by reference into our Annual Report on Form 10-K for the fiscal year ended December 31, 2023;

(c)    The Registrant’s Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2024 and June 30, 2024, as filed with the Commission on May 9, 2024 and August 8, 2024, respectively;

(d)    The Registrant’s Current Reports on Form 8-K or Form 8-K/A as filed with the Commission on January 4, 2024, February 14, 2024, March 1, 2024, March 11, 2024, March 28, 2024, June 6, 2024, June 10, 2024, July 11, 2024 and July 19, 2024; and

(e)    The Description of the Registrant’s Common Stock contained in the Registrant’s Registration Statement on Form 8-B as filed with the Commission on August 23, 1993, and as updated by Exhibit 4.6 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on February 27, 2024 and including any amendments and reports filed for the purpose of updating such description.

All documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, after the date of this Registration Statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference into this Registration Statement and to be a part hereof from the date of filing of such documents; provided, however, that documents or information deemed to have been furnished and not filed in accordance with Commission rules shall not be deemed incorporated by reference into this Registration Statement. Any statement contained in a document incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or amended, to constitute a part of this Registration Statement.
2
            
Item 5. Interests of Named Experts and Counsel.

The validity of the shares of Common Stock being registered hereby has been passed upon by Cathy A. King, Chief Legal Officer and Corporate Secretary of the Registrant. Ms. King is an employee and officer of the Registrant and owns, or has the right to acquire, a number of shares of Common Stock that represents less than 1% of the total outstanding shares of Common Stock.

Item 8. Exhibits.

Exhibit NumberDescription
4.1
4.2
4.3
5.1
23.1
23.2
24.1
99.1
107

* Filed herewith.

3
            
SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Town of New Hartford, State of New York, on this 22nd day of August, 2024.
 
PAR TECHNOLOGY CORPORATION
 
 

/s/ Bryan A. Menar 
Bryan A. Menar 
 
Chief Financial Officer
(Principal Financial Officer)


4
            
POWER OF ATTORNEY AND SIGNATURES

Each person whose signature appears below constitutes and appoints Savneet Singh and Bryan A. Menar, and each or any one of them, his or her true and lawful attorney-in-fact and agent, each with full power of substitution and resubstitution, severally, for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or any of them, or their, his or her substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the date indicated.

 
SIGNATURE TITLE DATE
    

/s/ Savneet Singh
 Director, Chief Executive Officer and President (Principal Executive Officer) August 22, 2024
Savneet Singh    
     
/s/ Bryan A. Menar
 Chief Financial Officer (Principal Financial Officer) August 22, 2024
Bryan A. Menar    
/s/ Linda M. CrawfordDirectorAugust 22, 2024
Linda M. Crawford
/s/ Keith E. PascalDirectorAugust 22, 2024
Keith E. Pascal
     
/s/ Douglas G. Rauch Director August 22, 2024
Douglas G. Rauch    
     
/s/ Cynthia A. Russo Director August 22, 2024
Cynthia A. Russo    
 
    
/s/ Narinder Singh Director August 22, 2024
Narinder Singh    
     
/s/ James C. Stoffel Director August 22, 2024
James C. Stoffel
5
S-8 S-8 EX-FILING FEES 0000708821 PAR TECHNOLOGY CORP Fees to be Paid 0000708821 2024-08-22 2024-08-22 0000708821 1 2024-08-22 2024-08-22 iso4217:USD xbrli:pure xbrli:shares

Calculation of Filing Fee Tables

S-8

PAR TECHNOLOGY CORP

Table 1: Newly Registered Securities

Security Type

Security Class Title

Fee Calculation Rule

Amount Registered

Proposed Maximum Offering Price Per Unit

Maximum Aggregate Offering Price

Fee Rate

Amount of Registration Fee

1 Equity Common Stock, $.02 par value per share Other 1,900,000 $ 52.50 $ 99,750,000.00 0.0001476 $ 14,723.10

Total Offering Amounts:

$ 99,750,000.00

$ 14,723.10

Total Fee Offsets:

$ 0.00

Net Fee Due:

$ 14,723.10

Offering Note

1

FN1 to "Fee Calculation Rule": Fee calculated in accordance with Rules 457(c) and (h) under the Securities Act of 1933 ("the Securities Act"). FN2 to "Amount Registered": Represents additional shares of Registrant's Common Stock that may be issued under the Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan (the "Plan"). Pursuant to Rule 416(a) under the Securities Act, this Registration Statement shall cover any additional shares or Registrant's Common Stock that become issuable under the Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction. FN3 to "Proposed Maximum Offering Price Per Unit" and "Maximum Aggregate Offering Price": Estimated solely for the purposes of calculating the registration fee pursuant to Rule 457(c) and Rule 457(h) under the Securities Act based on the average high and low prices of the Registrant's Common Stock as reported on the New York Stock Exchange on August 15, 2024. FN4 to "Amount of Registration Fee": Rounded to the nearest cent.


    Exhibit 5.1

Office of General Counsel
PAR Technology Corporation
8383 Seneca Turnpike
New Hartford, New York 13413-4991


August 22, 2024
 
PAR Technology Corporation
8383 Seneca Turnpike
New Hartford, New York 13413

 
Re:PAR Technology Corporation Registration Statement on Form S-8

Ladies and Gentlemen:
 
I am Chief Legal Officer and Secretary of PAR Technology Corporation, a Delaware corporation (the “Company”). I am providing the opinion set forth below in connection with the filing by the Company of a Registration Statement on Form S-8 (the “Registration Statement”) with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”), in connection with the subsequent offer and sale of 1,900,000 shares of the Company’s common stock, par value $0.02 per share (the “Common Stock”), that may be issued pursuant to the Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan, as amended (the “2015 Plan”).
 
In connection with the below opinion, I have examined the Registration Statement, the 2015 Plan, amendments to the 2015 Plan and the originals, or photostatic or certified copies, of instruments, documents, certifications, and records as I have deemed relevant and necessary or appropriate to provide the opinion set forth below. In providing the opinion, I have assumed the genuineness of all signatures, the legal capacity of all natural persons, the authenticity of all documents submitted to me as originals and the conformity to original documents of all documents submitted to me as copies.
 
Based upon and subject to the foregoing, I am of the opinion that, following the effectiveness of the Registration Statement under the Securities Act, the shares of Common Stock issuable under the 2015 Plan, when issued and sold in accordance with the respective provisions thereof, will be validly issued, fully paid and nonassessable.
 
The opinion does not relate to matters involving the laws of any jurisdiction other than the Delaware General Corporation Law (the “DGCL”). The opinion is limited to the effect of the current state of the law of the DGCL and the facts as they currently exist. I assume no obligation to supplement the opinion in the event of future changes in such law or the interpretations thereof or such facts.
 
I consent to the filing of this opinion letter as Exhibit 5.1 to the Registration Statement.
 
 

  
Very truly yours,
 
/s/ Cathy A. King            
Cathy A. King
Chief Legal Officer and Secretary

{W5202770.1}    



Exhibit 23.2

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
 
We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated February 27, 2024, relating to the consolidated financial statements of PAR Technology Corporation and subsidiaries, and the effectiveness of PAR Technology Corporation and subsidiaries’ internal control over financial reporting, appearing in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
 
/s/ Deloitte & Touche LLP
 
Rochester, New York
August 22, 2024


{W5202770.1}    

v3.24.2.u1
Submission
Aug. 22, 2024
Submission [Line Items]  
Central Index Key 0000708821
Registrant Name PAR TECHNOLOGY CORP
Form Type S-8
Submission Type S-8
Fee Exhibit Type EX-FILING FEES
v3.24.2.u1
Offerings - Offering: 1
Aug. 22, 2024
USD ($)
shares
Offering:  
Fee Previously Paid false
Other Rule true
Security Type Equity
Security Class Title Common Stock, $.02 par value per share
Amount Registered | shares 1,900,000
Proposed Maximum Offering Price per Unit 52.50
Maximum Aggregate Offering Price $ 99,750,000.00
Fee Rate 0.01476%
Amount of Registration Fee $ 14,723.10
Offering Note FN1 to "Fee Calculation Rule": Fee calculated in accordance with Rules 457(c) and (h) under the Securities Act of 1933 ("the Securities Act"). FN2 to "Amount Registered": Represents additional shares of Registrant's Common Stock that may be issued under the Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan (the "Plan"). Pursuant to Rule 416(a) under the Securities Act, this Registration Statement shall cover any additional shares or Registrant's Common Stock that become issuable under the Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction. FN3 to "Proposed Maximum Offering Price Per Unit" and "Maximum Aggregate Offering Price": Estimated solely for the purposes of calculating the registration fee pursuant to Rule 457(c) and Rule 457(h) under the Securities Act based on the average high and low prices of the Registrant's Common Stock as reported on the New York Stock Exchange on August 15, 2024. FN4 to "Amount of Registration Fee": Rounded to the nearest cent.
v3.24.2.u1
Fees Summary
Aug. 22, 2024
USD ($)
Fees Summary [Line Items]  
Total Offering $ 99,750,000.00
Total Fee Amount 14,723.10
Total Offset Amount 0.00
Net Fee $ 14,723.10
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