It's fine. Originally there were just two connections on a camera's hot shoe. One is that big one in the middle and the other one is the single piece of metal that forms those flanges or lips on each side, that hold the flashgun in. If you look at almost any flashgun foot you'll see the corresponding sprung contacts. The other three contacts on the Pentax enable the camera and flash to talk to each other.
That little hole that looks like it should hold another contact is for a locking pin, so your flashgun doesn't accidentally slide out of the shoe. My K20D, a 2008 design, is just the same as your K1.
You can see the foot of a Pentax flashgun here. In this example you can see four sprung contacts and the end of the locking pin in an insulated (plastic) bit, and a sturdy metal flange surrounding that which is your fifth contact:
Pentax AF360FGZ II Flash Review - Construction and Handling | PentaxForums.com Reviews