0001140361-14-029827.txt : 20140730 0001140361-14-029827.hdr.sgml : 20140730 20140730105937 ACCESSION NUMBER: 0001140361-14-029827 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20140728 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140730 DATE AS OF CHANGE: 20140730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAR TECHNOLOGY CORP CENTRAL INDEX KEY: 0000708821 STANDARD INDUSTRIAL CLASSIFICATION: CALCULATING & ACCOUNTING MACHINES (NO ELECTRONIC COMPUTERS) [3578] IRS NUMBER: 161434688 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09720 FILM NUMBER: 141001698 BUSINESS ADDRESS: STREET 1: PAR TECHNOLOGY PARK STREET 2: 8383 SENECA TURNPIKE CITY: NEW HARTFORD STATE: NY ZIP: 13413 BUSINESS PHONE: 3157380600 8-K 1 form8k.htm PAR TECHNOLOGY CORP 8-K 7-28-2014

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 28, 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 Todd E. Tyler, age 51, to the Board effective July 28, 2014 for a term which will expire at the 2015 Annual Meeting of Shareholders.
 
Mr. Tyler was appointed to the Nominating/Corporate Governance Committee, where he will serve as Chairman and will also serve on the Audit and Compensation 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. Tyler will serve as a non-management, independent director.  As such, Mr. Tyler 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. Tyler’s appointment is included as Exhibit 99.1.


Item 9.01 Financial Statements and Exhibits.

Exhibit Number Description

99.1 Press Release dated July 30, 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 30, 2014
/s/Steven M. Malone
 
Steven M. Malone
 
Vice President, Controller and
Chief Accounting Officer


EXHIBIT INDEX

Exhibit Number
Description
 
 
 
Press Release dated July 30, 2014.

 

EX-99.1 2 ex99_1.htm EXHIBIT 99.1

EXHIBIT 99.1
 
 
FOR RELEASE:
 
CONTACT:
New Hartford, NY, July 30, 2014
 
Christopher R. Byrnes (315) 738-0600 ext. 6226
cbyrnes@partech.com,  www.partech.com
 

PAR TECHNOLOGY CORPORATION

APPOINTS TODD E. TYLER TO BOARD OF DIRECTORS

New Hartford, NY- July 30, 2014 -- PAR Technology Corporation (NYSE: PAR) today announced that Todd E. Tyler has been appointed to the Company’s Board of Directors.  Mr. Tyler was the Chief Executive Officer, President and member of the Board of Directors at Lanyon, Inc., a leading provider of cloud-based software for the Hotel market.  Under his leadership Lanyon grew from a small technology company to an industry leading, cloud-based software company.  Mr. Tyler led the sale of Lanyon to Vista Equity Partners in December 2012.  In January 2013 Mr. Tyler was recognized by The Business Travel News as one of The 25 Most Influential Executives of 2012.  Prior to his time at Lanyon, Mr. Tyler was the Chief Financial Officer, General Counsel and a member of the Board of Directors of a subsidiary of Reliant Energy (NYSE: REI).  Currently, Mr. Tyler serves as an Executive member of the Board of Directors of NetDocuments, a cloud-based software company based in Lehi, Utah focused on providing document and email management solutions to the legal industry, and also serves as an advisor to two large private equity firms in evaluating cloud-based software investments.

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

“I want to welcome Todd to the PAR board and I look forward to working with him,” said Ronald J. Casciano, PAR’s Chief Executive Officer, President & PAR Board Member.  “Todd brings to the board valuable hands-on experience and ideas for emerging platforms in hospitality technology.  His experience as an accomplished technology executive and knowledge of cloud-based hospitality software will be highly valued as PAR Technology continues to enhance its offerings around the globe.  We look forward to benefiting from his innovative technical experience and forward thinking that will add a unique perspective to PAR’s vision and business strategies.”

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.
 
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