PAR TECHNOLOGY CORP
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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Jun 30, 2024 · Filed Aug 8, 2024
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Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
On June 12, 2024, the Company issued 11,018 shares of its common stock, representing an issuance date fair value of $0.5 million, as a stock award to a former employee in connection with the sale of PGSC. The shares of common stock were issued without registration in a private transaction exempt from registration pursuant to Section 4(a)(2) of the Securities Act.
Under our equity incentive plan, employees may elect to have us withhold shares to satisfy minimum statutory federal, state and local tax withholding obligations arising from the vesting of their restricted stock and restricted stock units. When we withhold these shares, we are required to remit to the appropriate taxing authorities the market price of the shares withheld, which could be deemed a purchase of shares by us on the date of withholding. For the three months ended June 30, 2024, 4,684 shares were withheld.
The table below presents information regarding the Company's purchases of its common stock for the time periods presented.
| Period | Total Number of Shares Withheld | Average Price Paid Per Share |
|---|---|---|
| April 1, 2024 - April 30, 2024 | — | $— |
| May 1, 2024 - May 31, 2024 | — | $— |
| June 1, 2024 - June 30, 2024 | 4,684 | $45.26 |
| Total | 4,684 | $45.26 |
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