Institutional Filing: T. Rowe Price Owns 5.6M Shares of PAR (13.8%)

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. reports beneficial ownership of 5,600,644 shares of PAR Technology Corp. common stock, representing 13.8% of the class. The filer reports 5,593,096 shares with sole voting power and 5,600,644 shares with sole dispositive power. The filing identifies the filer as an investment adviser organized in Maryland and states these shares are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

The filing lists the issuer's principal executive office in New Hartford, NY, and provides the filer’s principal business office in Baltimore, MD. The document is a Schedule 13G amendment signed by a vice president of the reporting firm.

Positive

• Disclosed substantial position: 5,600,644 shares representing 13.8% of the class
• Clear voting/dispositive powers: 5,593,096 shares with sole voting power and 5,600,644 shares with sole dispositive power
• Regulatory classification provided: filer identified as an investment adviser organized in Maryland
• Affirmation of ordinary-course holdings: filer certifies shares are held in the ordinary course and not to influence control

Negative

• None.

Insights

Financial Analyst

TL;DR Significant passive stake: 13.8% of PAR held by a large institutional adviser, reported as not for control.

T. Rowe Price Investment Management, Inc. discloses ownership of 5,600,644 shares, a sizeable 13.8% position that must be considered by investors when assessing shareholder base concentration. The filing shows almost all shares are held with sole voting and dispositive power, indicating centralized voting influence within the reporting entity for this stake. The statement that holdings are in the ordinary course and not intended to influence control clarifies the filer’s posture but does not change the economic significance of the position.

Corporate Governance Expert

TL;DR A substantial institutional holding disclosed with an explicit certification that it is not for control.

The Schedule 13G/A identifies the filer as an investment adviser and includes the required certification that the securities were not acquired to influence control. From a governance perspective, the filing informs the market of a concentrated institutional holder with sole voting authority over most reported shares. The disclosure meets regulatory requirements and provides transparency about ownership and voting power without asserting activist intent.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 8)

PAR TECHNOLOGY CORP/DEL

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

698884103

(CUSIP Number)

08/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 698884103

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,593,096.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,600,644.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,600,644.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.8 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PAR TECHNOLOGY CORP/DEL
(b)	Address of issuer's principal executive offices: PAR TECHNOLOGY PARK, 8383 SENECA TURNPIKE, NEW HARTFORD, NY, 13413
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 698884103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5600644
(b)	Percent of class: 13.8 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5593096
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5600644
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Ownership of More than Five Percent on Behalf of Another Person (1) Price Investment Management does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client's custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the individual and institutional clients which Price Investment Management serves as investment adviser. Any and all discretionary authority which has been delegated to Price Investment Management may be revoked in whole or in part at any time. Except as may be indicated if this is a joint filing with one of the registered investment companies sponsored by Price Investment Management which it also serves as investment adviser ("T. Rowe Price Funds"), not more than 5% of the class of such securities is owned by any one client subject to the investment advice of Price Investment Management. (2) []:
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	09/08/2025

FAQ

How many PAR (PAR) shares does T. Rowe Price Investment Management, Inc. report owning?

The filing reports 5,600,644 shares beneficially owned.

What percentage of PAR does T. Rowe Price own according to the filing?

The filing states the holdings represent 13.8% of the outstanding class.

How many shares does T. Rowe Price report with sole voting power for PAR?

T. Rowe Price reports 5,593,096 shares with sole voting power.

Does the filing state that the stake is intended to influence control of PAR?

No; the filer certifies the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What is the filer’s registered type and place of organization?

The filer is an investment adviser organized in Maryland.