This cluster is routine and non-informative. The CLO's exercise-and-sell pattern is standard for covering option costs and taxes. Monitor for any upcoming 8-K filings (earnings, material agreements, or offerings) as the cross-filing calibration shows these combos amplify cluster signals, but standalone this cluster has no actionable edge.
Price Chart
Executive Summary
Two PAR insiders sold shares in a cluster totaling $315K, led by the Chief Legal Officer Cathy King exercising and immediately selling 20,000 shares. The total sale value is ~0.05% of market cap, well below the 0.1% materiality threshold, making this a routine liquidity event rather than an informed sell signal.
Key Financial Metrics
Key Facts
- CLO Cathy King sold 20,000 shares at $15.38 for $307,600 on June 2, 2026, after exercising derivatives at $5.12/share and $0/share
- SVP Finance Michael Steenberge sold 498 shares at $14.20 for $7,072 on June 3, 2026
- Total cluster sale value of $315K represents ~0.05% of PAR's $584M market cap
- King's sale is a same-day exercise-and-sell pattern, typical of tax/vesting-related liquidity, not a bearish signal
Financial Impact
Total insider sales of $315K, negligible relative to $584M market cap
Risk Factors
- Insider selling could accelerate if the stock rallies, but current volume is too small to indicate bearish conviction
- No material insider buying to offset the selling — lack of bullish insider signal
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PAR-1780605937295 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 18, 2026 9w ago | Insider Cluster | $19.28 $19.69 | ▲ +2.13% | ▲ +2.51% | $17.21 (−10.74%) |
Aug 13, 2026 10w ago | Insider Buy | $18.61 $18.95 | ▲ +1.83% | ▲ +3.79% | $17.21 (−7.52%) |
Jun 15, 2026 19w ago | Insider Buy | $15.49 $15.38 | ▼ −0.71% | ▲ +1.52% | $17.21 (+11.10%) |
Jun 15, 2026 19w ago | Insider Cluster | $15.49 $15.38 | ▼ −0.71% | ▲ +1.52% | $17.21 (+11.10%) |
Jun 4, 2026 20w ago | Insider Cluster | $13.46 $14.90 | ▲ +10.70% | ▲ +10.13% | $17.21 (+27.86%) |
Jun 4, 2026 20w ago | Insider Cluster | $13.46 $14.90 | ▲ +10.70% | ▲ +10.13% | $17.21 (+27.86%) |
Jun 3, 2026 20w ago | 8-K | $14.51 $14.62 | ▲ +0.76% | ▲ +3.31% | $17.21 (+18.61%) |
Apr 16, 2026 27w ago | DEFA14A | $13.60 $13.42 | ▼ −1.32% | ▼ −2.31% | $17.21 (+26.54%) |
Apr 15, 2026 27w ago | 8-K | $13.60 $13.42 | ▼ −1.32% | ▼ −2.31% | $17.21 (+26.54%) |
Mar 26, 2026 30w ago | S-3ASR | $12.81 $13.96 | ▲ +8.98% | ▲ +5.12% | $17.21 (+34.35%) |
US Market Status
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