Voss Capital boosts PAR (NYSE: PAR) stake with 350K-share open-market buying
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Voss Capital-managed accounts and affiliated funds reported significant open‑market purchases of PAR Technology common stock. On June 11–12, 2026, managed accounts of Voss Capital, LP bought a total of 350,000 shares of PAR Technology common stock in multiple open‑market transactions at prices between $14.01 and $14.98 per share.
The filing is made jointly by Voss Value Master Fund, LP, Voss Value‑Oriented Special Situations Fund, LP, Voss Advisors GP, LLC, Voss Capital, LP and Travis W. Cocke as a group that collectively beneficially owns over 10% of PAR’s outstanding common stock, with each reporting person disclaiming beneficial ownership beyond its pecuniary interest. As of June 11, 2026, Voss Value Master Fund directly held 925,000 shares, Voss Value‑Oriented Special Situations Fund directly held 150,000 shares, and Voss Capital-managed accounts also held call options over 46,400 underlying shares with a $25.00 exercise price expiring on July 17, 2026.
Positive
- None.
Negative
- None.
Insights
Voss Capital-led group increased its PAR stake with 350,000-share open-market buying.
The filing shows managed accounts of Voss Capital, LP executing a series of open‑market purchases totaling 350,000 PAR Technology shares across June 11–12, 2026. Reported purchase prices range from about $14.01 to $14.98 per share, indicating active accumulation rather than derivative exercises or routine grants.
The reporting persons file jointly as a group that beneficially owns over 10% of PAR’s outstanding common stock, but each disclaims beneficial ownership beyond its pecuniary interest. The filing also lists existing long exposure via 925,000 shares in Voss Value Master Fund, 150,000 shares in Voss Value‑Oriented Special Situations Fund, and call options on 46,400 shares at a $25.00 strike expiring on July 17, 2026. Overall, this is a net‑buy pattern by a significant shareholder, without any disclosed sales or 10b5‑1 trading plan context.
Insider Trade Summary
Net Buyer: 350,000 shares ($5,060,760)
Net Buy
21 txns
Insider
Voss Capital, LP, Voss Value Master Fund, LP, Voss Value-Oriented Special Situations Fund, LP, Voss Advisors GP, LLC, Cocke Travis W.
Role
null | null | null | null | null
Bought
350,000 shs ($5.06M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock, $0.02 par value | 60,012 | $14.9007 | $894K |
| Purchase | Common Stock, $0.02 par value | 6,429 | $14.3449 | $92K |
| Purchase | Common Stock, $0.02 par value | 523 | $14.9766 | $8K |
| Purchase | Common Stock, $0.02 par value | 64,013 | $14.9007 | $954K |
| Purchase | Common Stock, $0.02 par value | 16,004 | $14.9007 | $238K |
| Purchase | Common Stock, $0.02 par value | 6,857 | $14.3449 | $98K |
| Purchase | Common Stock, $0.02 par value | 1,714 | $14.3449 | $25K |
| Purchase | Common Stock, $0.02 par value | 558 | $14.9766 | $8K |
| Purchase | Common Stock, $0.02 par value | 139 | $14.9766 | $2K |
| Purchase | Common Stock, $0.02 par value | 22,260 | $14.4457 | $322K |
| Purchase | Common Stock, $0.02 par value | 23,745 | $14.4457 | $343K |
| Purchase | Common Stock, $0.02 par value | 5,936 | $14.4457 | $86K |
| Purchase | Common Stock, $0.02 par value | 21,429 | $14.0128 | $300K |
| Purchase | Common Stock, $0.02 par value | 22,857 | $14.0128 | $320K |
| Purchase | Common Stock, $0.02 par value | 5,714 | $14.0128 | $80K |
| Purchase | Common Stock, $0.02 par value | 39,347 | $14.0488 | $553K |
| Purchase | Common Stock, $0.02 par value | 41,970 | $14.0488 | $590K |
| Purchase | Common Stock, $0.02 par value | 10,493 | $14.0488 | $147K |
| holding | Call Option (right to buy) | -- | -- | -- |
| holding | Common Stock, $0.02 par value | -- | -- | -- |
| holding | Common Stock, $0.02 par value | -- | -- | -- |
Holdings After Transaction:
Common Stock, $0.02 par value — 5,028,763 shares (Indirect, By: Managed Accounts of Voss Capital, LP);
Call Option (right to buy) — 46,400 shares (Indirect, By: Managed Accounts of Voss Capital, LP)
Footnotes (1)
- This Form 4 is filed jointly by Voss Value Master Fund, LP ("Voss Value Master Fund"), Voss Value-Oriented Special Situations Fund, LP ("Voss Value-Oriented Special Situations Fund"), Voss Advisors GP, LLC ("Voss GP"), Voss Capital, LP ("Voss Capital") and Travis W. Cocke (collectively, the "Reporting Persons"). Each of the Reporting Persons is a member of a group for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, that collectively beneficially owns over 10% of the Issuer's outstanding shares of Common Stock. Each Reporting Person disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed to be an admission that any Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. Securities owned directly by Voss Value Master Fund. Voss GP, as the general partner of Voss Value Master Fund, may be deemed to beneficially own the securities owned directly by Voss Value Master Fund. Voss Capital, as the investment manager of Voss Value Master Fund, may be deemed to beneficially own the securities owned directly by Voss Value Master Fund. Mr. Cocke, as the managing member of Voss Capital and Voss GP, may be deemed to beneficially own the securities owned directly by Voss Value Master Fund. Securities owned directly by Voss Value-Oriented Special Situations Fund. Voss GP, as the general partner of Voss Value-Oriented Special Situations Fund, may be deemed to beneficially own the securities owned directly by Voss Value-Oriented Special Situations Fund. Voss Capital, as the investment manager of Voss Value-Oriented Special Situations Fund, may be deemed to beneficially own the securities owned directly by Voss Value-Oriented Special Situations Fund. Mr. Cocke, as the managing member of Voss Capital and Voss GP, may be deemed to beneficially own the securities owned directly by Voss Value-Oriented Special Situations Fund. Securities held in certain accounts separately managed by Voss Capital (the "Voss Managed Accounts"). Voss Capital, as the investment manager of the Voss Managed Accounts, may be deemed to beneficially own the securities held in the Voss Managed Accounts. Mr. Cocke, as the managing member of Voss Capital, may be deemed to beneficially own the securities held in the Voss Managed Accounts. Such call options were immediately exercisable upon their acquisition.
Key Figures
Shares bought: 350,000 shares
Purchase price range: $14.01–$14.98 per share
Master Fund holdings: 925,000 shares
+5 more
8 metrics
Shares bought
350,000 shares
Total open-market purchases by Voss Capital-managed accounts on June 11–12, 2026
Purchase price range
$14.01–$14.98 per share
Range of reported transaction prices for PAR common stock
Master Fund holdings
925,000 shares
Common shares held directly by Voss Value Master Fund as of June 11, 2026
Special Situations Fund holdings
150,000 shares
Common shares held directly by Voss Value-Oriented Special Situations Fund as of June 11, 2026
Call option underlying shares
46,400 shares
Underlying PAR shares for call options held by Voss Capital-managed accounts
Call option exercise price
$25.00 per share
Strike price of PAR call options expiring July 17, 2026
Call option expiration
July 17, 2026
Expiration date for 46,400-share PAR call option position
Group ownership threshold
Over 10% of shares
Group beneficial ownership of PAR common stock under Section 13(d)
Key Terms
open-market purchase, beneficially owns over 10%, Section 13(d), pecuniary interest, +2 more
6 terms
open-market purchase financial
"transaction_action": "open-market purchase""
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
beneficially owns over 10% regulatory
"collectively beneficially owns over 10% of the Issuer's outstanding shares"
Section 13(d) regulatory
"a member of a group for purposes of Section 13(d) of the Securities Exchange Act"
pecuniary interest financial
"disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest"
call options financial
"Such call options were immediately exercisable upon their acquisition."
A call option is a contract that gives its buyer the right, but not the obligation, to buy a specific number of shares at a predetermined price within a set time. Think of it like a refundable reservation to purchase a stock later at today’s agreed price: investors use calls to profit from expected price rises with smaller upfront cost than buying the stock outright, or to hedge and manage exposure, while the most they can lose is the amount paid for the contract.
separately managed accounts financial
"Securities held in certain accounts separately managed by Voss Capital"
A separately managed account is an investment portfolio owned by a single investor but professionally managed to that investor’s specific goals and preferences, rather than pooled with other clients’ money. It matters to investors because it offers greater customization, tax control and transparency—like hiring a personal chef instead of eating from a shared buffet—though it often requires higher minimums and can have different fee and liquidity implications.
FAQ
What did the Voss Capital group do in this PAR (PAR) Form 4 filing?
The Voss Capital-led reporting group disclosed open-market purchases of PAR Technology common stock. Managed accounts of Voss Capital, LP bought 350,000 shares over June 11–12, 2026, at prices around the mid‑teens per share, increasing their reported indirect holdings.
Who are the reporting persons in the PAR (PAR) Voss Capital Form 4?
The reporting persons are Voss Value Master Fund, LP, Voss Value‑Oriented Special Situations Fund, LP, Voss Advisors GP, LLC, Voss Capital, LP and Travis W. Cocke. They report as a group beneficially owning over 10% of PAR’s common stock, while each disclaims broader beneficial ownership.
What PAR Technology (PAR) derivative position is disclosed by Voss Capital?
Accounts managed by Voss Capital, LP hold call options on 46,400 PAR Technology shares. These options carry a $25.00 exercise price and expire on July 17, 2026. The options were immediately exercisable upon acquisition, adding leveraged upside exposure alongside the common share holdings.
Does the Voss Capital group claim full beneficial ownership of all reported PAR (PAR) securities?
No. The Form 4 states each reporting person disclaims beneficial ownership of the reported securities except to the extent of its or his pecuniary interest. This clarifies that ownership is attributed through roles like investment manager or general partner rather than direct personal holdings.