Voss Capital Reports Reduced Stake in PAR Technology Corp Due to Option Expirations and Dilution

Voss Capital, LP and its affiliates, including Travis W. Cocke, filed Amendment No. 2 to their Schedule 13D for PAR Technology Corp (PAR) on April 22, 2026. The filing reveals a decrease in beneficial ownership to 5,176,500 shares, representing approximately 12.0% of the company, down from a previous 13.2% (5,426,600 shares). According to the report, the reduction in ownership percentage and share count was not due to open-market sales, but rather the result of the expiration of previously held options and an increase in the total number of the Issuer's outstanding shares. The reporting group includes Voss Value Master Fund, Voss Value-Oriented Special Situations Fund, and various managed accounts. Travis W. Cocke maintains shared voting and dispositive power over the aggregate 5,176,500 shares in his capacity as managing member of Voss Capital and Voss GP. The shares were originally purchased using working capital and margin loans.