Current Report Filing (8-k)

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 22, 2014

PAR Technology Corporation

(Exact name of registrant as specified in its charter)

Delaware	1-09720	16-1434688
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

PAR Technology Park, 8383 Seneca Turnpike, New Hartford, New York 13413-4991

(Address of Principal Executive Offices) (Zip Code)

Registrant's telephone number, including area code: (315) 738-0600

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o	Soliciting material pursuant to rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Item 5.02(d)

Election of New Director

PAR Technology’s Board of Directors has appointed Paul D. Eurek, age 55, to the Board effective July 22, 2014 for a term which will expire at the 2015 Annual Meeting of Shareholders. Mr. Eurek was appointed to the Compensation Committee, where he will serve as Chairman and will also serve on the Audit and Nominating/Corporate Governance committees. Having been determined by the Board to have no material relationship with the Company, to be independent as defined by the NYSE in its listing standards and the Company’s Governance Guidelines and meeting the SEC standards for independence of audit committee members, Mr. Eurek will serve as a non-management, independent director. As such, Mr. Eurek will receive a prorated portion of an annual retainer consisting of $40,000 and $40,000 in restricted stock.

The Company’s press release announcing Mr. Eurek’s appointment is included as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

Exhibit Number	Description

99.1	Press Release dated July 24, 2014.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	PAR TECHNOLOGY CORPORATION
	(Registrant)

Date: July 24, 2014	/s/Steven M. Malone
	Steven M. Malone
	Vice President, Controller and Chief Accounting Officer

EXHIBIT INDEX

Exhibit Number	Description

99.1	Press Release dated July 24, 2014.

EXHIBIT 99.1

FOR RELEASE:

CONTACT:

New Hartford, NY, July 24, 2014

Christopher R. Byrnes (315) 738-0600 ext. 6226

cbyrnes@partech.com, www.partech.com

PAR TECHNOLOGY CORPORATION

APPOINTS PAUL D. EUREK TO BOARD OF DIRECTORS

New Hartford, NY- July 24, 2014 -- PAR Technology Corporation (NYSE: PAR) today announced that Paul D. Eurek has been appointed to the Company’s Board of Directors. Mr. Eurek was founder and CEO at Compris Technologies, now a wholly owned subsidiary of NCR Corporation (NYSE: NCR). Compris software is one of the most widely utilized point-of-sale software applications for restaurants in the world. During his professional career Mr. Eurek also was the founder, President & CEO of xpansion LLC, a professional services and software development company and held additional positions within NCR Corporation and in start-up/venture capital investment management.

Mr. Eurek will serve as a member of the Company’s Audit, Nominating/Corporate Governance Committees and Chairman of the Compensation Committee.

“We are excited for Paul to join our Board,” said Ronald J. Casciano, PAR’s Chief Executive Officer, President & PAR Board Member. “Paul is a true entrepreneur who founded two successful technology companies focused on hospitality software technology, and then sold these organizations to large technology companies. His deep understanding of hospitality technology, cloud based systems and implementation experience provides a unique perspective to advise on our go-forward strategies of transitioning our hospitality businesses to the cloud, expanding our customer base and leveraging our infrastructure while preserving our legacy businesses.”

ABOUT PAR TECHNOLOGY

PAR Technology Corporation's stock is traded on the New York Stock Exchange under the symbol PAR. PAR’s Hospitality segment has been a leading provider of restaurant and retail technology for more than 30 years. PAR offers technology solutions for the full spectrum of restaurant operations, from large chain and independent table service restaurants to international quick service chains. PAR’s Hospitality business also provides hotel management systems with a complete suite of powerful tools for guest management, recreation management, and timeshare/condo management. In addition, PAR offers the spa industry a leading management application specifically designed to support the unique needs of the resort spa and day spa markets, a rapidly growing hospitality segment. Products from PAR also can be found in retailers, cinemas, cruise lines, stadiums and food service companies. PAR’s Government Business is a leader in providing computer-based system design, engineering and technical services to the Department of Defense and various federal agencies. Visit www.partech.com for more information.

###

PAR Technology (NYSE:PAR)
Historical Stock Chart
From Mar 2024 to Apr 2024