Caroline Miller Oyler - Jul 17, 2024 Form 4 Insider Report for PAPA JOHNS INTERNATIONAL INC (PZZA)

Role
Chief Legal & Risk Officer
Signature
Debra Tate Johnson, by Power of Attorney
Stock symbol
PZZA
Transactions as of
Jul 17, 2024
Transactions value $
$0
Form type
4
Date filed
7/19/2024, 04:27 PM
Previous filing
Mar 27, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PZZA Performance-based Restricted Stock Units Award $0 +27.7K $0.00 27.7K Jul 17, 2024 Common Stock 27.7K Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each performance-based restricted stock unit ("RSU") represents a contingent right to receive one PZZA common share.
F2 The reported RSUs are eligible to become earned based on achievement of three stock price appreciation hurdles over a three-year performance period from the date of grant, subject to a four-year continued service requirement. The average closing trading price of the Company's common stock must exceed the applicable stock price hurdle for 30 consecutive trading days at any point during the three-year performance period in order for the stock price hurdle to be considered achieved. The number of RSUs that will be earned and the applicable stock price hurdles are as follows: (1) 30% of the RSUs are earned at a price hurdle of $65.00; (2) an additional 30% are earned at a price hurdle of $75.00; and (3) an additional 40% are earned at a price hurdle of $85.00.
F3 The number of earned RSUs, if any, will vest on the fourth anniversary of the grant date subject to the reporting person's continued service.