PAR Technology: ADW Capital discloses 1.5% stake (597,229 shares)

PAR Technology Corporation received an amended Schedule 13G/A from ADW Capital Partners, L.P., ADW Capital Management, LLC, and Adam D. Wyden.

Rhea-AI Filing Summary

PAR Technology Corporation received an amended Schedule 13G/A from ADW Capital Partners, L.P., ADW Capital Management, LLC, and Adam D. Wyden. The group reports beneficial ownership of 597,229 shares of common stock, representing 1.5% of the class. Voting and dispositive power are reported as shared for 597,229 shares and sole power is 0.

The percentage is based on 40,591,032 shares outstanding as of November 4, 2025, as disclosed by the issuer. The filing indicates ownership of five percent or less of the class and includes a certification that the securities were not acquired with the purpose or effect of changing or influencing control. The reported date of event is September 30, 2025.

Insights

Equity ownership & disclosure analyst

Routine passive 13G/A showing a 1.5% stake, neutral impact.

The filing lists ADW Capital and Adam D. Wyden with 1.5% beneficial ownership, covering 597,229 shares with shared voting and dispositive power. This is a standard ownership disclosure indicating a sub-5% position.

The percentage uses the issuer’s 40,591,032 shares outstanding as of Nov 4, 2025. The Schedule 13G certification states the securities were not acquired to change or influence control, underscoring a passive stance.

As an administrative update, it does not change the investment thesis; any future changes in ownership would appear in subsequent beneficial ownership filings.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake in PAR (PAR) does ADW Capital report?

They report 597,229 shares, representing 1.5% of PAR Technology’s common stock.

How is the 1.5% for PAR (PAR) calculated?

It’s based on 40,591,032 shares outstanding as of November 4, 2025, per the issuer.

Does ADW Capital claim control intent over PAR (PAR)?

No. The certification states the securities were not acquired to change or influence control.

What voting and dispositive powers are reported for PAR (PAR)?

They report shared voting and dispositive power over 597,229 shares and 0 sole power.

What is the event date for this PAR (PAR) ownership update?

The date of the event requiring the filing is September 30, 2025.

Who are the reporting persons in this PAR (PAR) filing?

ADW Capital Partners, L.P.; ADW Capital Management, LLC; and Adam D. Wyden.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 11/14/2025 - 11:37 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 10)

PAR Technology Corporation

(Name of Issuer)

Common Stock, $0.02 par value

(Title of Class of Securities)

698884103

(CUSIP Number)

09/30/2025

(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

ADW Capital Partners, L.P.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 597,229.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 597,229.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

597,229.00

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)

1.5 %

12

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person: The figure in Item 11 is based upon 40,591,032 shares of Common Stock, $0.02 par value per share ("Common Stock") of PAR Technology Corporation (the "Issuer") outstanding as of November 4, 2025 as disclosed in the Issuer's quarterly report on Form 10-Q for the quarterly period ended September 30, 2025, filed by the Issuer with the U.S. Securities and Exchange Commission (the "SEC") on November 6, 2025.

SCHEDULE 13G

CUSIP No. 698884103

1

Names of Reporting Persons

ADW Capital Management, LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 597,229.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 597,229.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

597,229.00

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)

1.5 %

12

Type of Reporting Person (See Instructions)

HC, IA

Comment for Type of Reporting Person: The figure in Item 11 is based upon 40,591,032 shares of Common Stock of the Issuer outstanding as of November 4, 2025 as disclosed in the Issuer's quarterly report on Form 10-Q for the quarterly period ended September 30, 2025, filed by the Issuer with the SEC on November 6, 2025.

SCHEDULE 13G

CUSIP No. 698884103

1

Names of Reporting Persons

Adam D. Wyden

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 597,229.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 597,229.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

597,229.00

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)

1.5 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: The figure in Item 11 is based upon 40,591,032 shares of Common Stock of the Issuer outstanding as of November 4, 2025 as disclosed in the Issuer's quarterly report on Form 10-Q for the quarterly period ended September 30, 2025, filed by the Issuer with the SEC on November 6, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PAR Technology Corporation
(b)	Address of issuer's principal executive offices: Par Technology Park, 8383 Seneca Turnpike, New Hartford, New York 13413-4991
Item 2.
(a)	Name of person filing: This statement is jointly filed by and on behalf of each of ADW Capital Partners, L.P., ADW Capital Management, LLC and Adam D. Wyden. ADW Capital Partners, L.P. is the record and direct beneficial owner of the securities covered by this statement. ADW Capital Management, LLC is the general partner and investment manager of, and may be deemed to beneficially own securities owned by, ADW Capital Partners, L.P. Mr. Wyden is the sole manager of, and may be deemed to beneficially own securities owned by, ADW Capital Management, LLC. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement. Each of the reporting persons may be deemed to be a member of a group with respect to the Issuer or securities of the Issuer for the purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended (the "Act"). Each of the reporting persons declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.
(b)	Address or principal business office or, if none, residence: The address of the principal business office of each of the reporting persons is 6431 Allison Road, Miami Beach, Florida.
(c)	Citizenship: See Item 4 on the cover page(s) hereto.
(d)	Title of class of securities: Common Stock, $0.02 par value
(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: See Item 9 on the cover page(s) hereto.
(b)	Percent of class: See Item 11 on the cover page(s) hereto.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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 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.

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.

ADW Capital Partners, L.P.

Signature:	/s/ Adam D. Wyden
Name/Title:	Sole Manager of ADW Capital Management, LLC, its general partner
Date:	11/14/2025

ADW Capital Management, LLC

Signature:	/s/ Adam D. Wyden
Name/Title:	Sole Manager
Date:	11/14/2025

Adam D. Wyden

Signature:	/s/ Adam D. Wyden
Name/Title:	Adam D. Wyden
Date:	11/14/2025

Comments accompanying signature: Exhibit Information Joint Acquisition Statement (incorporated herein by reference to Exhibit 1 to the Schedule 13G filed on February 14, 2024, by the Reporting Persons with the Securities and Exchange Commission)