Insider-Transaktionen

Open market or private sale of non-derivative or derivative security

• F1 The sales reported on this Form 4 represent shares of Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of a portion of restricted stock units granted on August 12, 2025. These sales are made pursuant to the Company's automatic sell-to-cover policy as implemented in a Rule 10b5-1 plan adopted pursuant to a mandatory sell-to-cover provision in the underlying grant agreement, and do not represent discretionary trades by the Reporting Person.
• F2 The sales price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.09 to $19.38, inclusive. The Reporting Person undertakes to provide to PAR Technology Corporation, any security holder of PAR Technology Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Open market or private sale of non-derivative or derivative security

• F1 The sale price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $18.63 to $18.93, inclusive. The Reporting Person undertakes to provide to PAR Technology Corporation, any security holder of PAR Technology Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Open market or private purchase of non-derivative or derivative security

• F1 The purchase price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $17.31 to $17.38, inclusive. The Reporting Person undertakes to provide to PAR Technology Corporation, any security holder of PAR Technology Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Open market or private purchase of non-derivative or derivative security

• F1 The purchase price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $15.08 to $15.21, inclusive. The reporting person undertakes to provide to PAR Technology Corporation, any security holder of PAR Technology Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Grant, award or other acquisition pursuant to Rule 16b-3(d)

• F1 Equity portion of non-employee Director annual retainer for term commencing May 29, 2026, comprising time-vesting restricted stock units (RSUs) granted under the Second Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan. The vesting schedule is as follows: 100% of the RSUs vest on the earlier of (a) 12-months from June 8, 2026, the grant date, and (b) the date of the Company's 2027 annual meeting of shareholders.

Grant, award or other acquisition pursuant to Rule 16b-3(d)

• F1 Equity portion of non-employee Director annual retainer for term commencing May 29, 2026, comprising time-vesting restricted stock units (RSUs) granted under the Second Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan. The vesting schedule is as follows: 100% of the RSUs vest on the earlier of (a) 12-months from June 8, 2026, the grant date, and (b) the date of the Company's 2027 annual meeting of shareholders.

Grant, award or other acquisition pursuant to Rule 16b-3(d)

• F1 Equity portion of non-employee Director annual retainer for term commencing May 29, 2026, comprising time-vesting restricted stock units (RSUs) granted under the Second Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan. The vesting schedule is as follows: 100% of the RSUs vest on the earlier of (a) 12-months from June 8, 2026, the grant date, and (b) the date of the Company's 2027 annual meeting of shareholders.

Grant, award or other acquisition pursuant to Rule 16b-3(d)

• F1 Equity portion of non-employee Director annual retainer for term commencing May 29, 2026, comprising time-vesting restricted stock units (RSUs) granted under the Second Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan. The vesting schedule is as follows: 100% of the RSUs vest on the earlier of (a) 12-months from June 8, 2026, the grant date, and (b) the date of the Company's 2027 annual meeting of shareholders.

Grant, award or other acquisition pursuant to Rule 16b-3(d)

• F1 Equity portion of non-employee Director annual retainer for term commencing May 29, 2026, comprising time-vesting restricted stock units (RSUs) granted under the Second Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan. The vesting schedule is as follows: 100% of the RSUs vest on the earlier of (a) 12-months from June 8, 2026, the grant date, and (b) the date of the Company's 2027 annual meeting of shareholders.

Grant, award or other acquisition pursuant to Rule 16b-3(d)

• F1 Equity portion of non-employee Director annual retainer for term commencing May 29, 2026, comprising time-vesting restricted stock units (RSUs) granted under the Second Amended and Restated PAR Technology Corporation 2015 Equity Incentive Plan. The vesting schedule is as follows: 100% of the RSUs vest on the earlier of (a) 12-months from June 8, 2026, the grant date, and (b) the date of the Company's 2027 annual meeting of shareholders.

Open market or private sale of non-derivative or derivative security

• F1 The sales reported on this Form 4 represent shares of Common Stock required to be sold by the Reporting Person to cover tax withholding obligations in connection with the vesting and settlement of a portion of restricted stock units granted on May 13, 2024. These sales are made pursuant to the Company's mandatory, automatic sell-to-cover policy as implemented in a Rule 10b5-1 plan adopted on June 3, 2025, and do not represent discretionary trades by the Reporting Person.
• F2 The sales price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $14.16 to $14.24 inclusive. The Reporting Person undertakes to provide to PAR Technology Corporation, any security holder of PAR Technology Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
• F3 Includes 364 shares acquired under the Company's Employee Stock Purchase Plan on June 1, 2026.

Exercise or conversion of derivative security exempted pursuant to Rule 16b-3

Open market or private sale of non-derivative or derivative security

• F1 This transaction occurred automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on March 14, 2025, and subsequently modified on March 3, 2026.
• F2 The sales price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $15.19 to $15.89, inclusive. The reporting person undertakes to provide to PAR Technology Corporation, any security holder of PAR Technology Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Exercise or conversion of derivative security exempted pursuant to Rule 16b-3

• F3 The option, representing a right to purchase a total of 20,000 shares, became exercisable in three equal installments beginning on July 29, 2017, which was the first anniversary of the date on which the option was granted.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F2 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F3 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F3 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.

Open market or private purchase of non-derivative or derivative security

• F1 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.
• F4 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.