Papa John's Reports Director/Officer Changes & Compensation
Ticker: PZZA · Form: 8-K · Filed: Aug 5, 2024 · CIK: 901491
| Field | Detail |
|---|---|
| Company | Papa Johns International Inc (PZZA) |
| Form Type | 8-K |
| Filed Date | Aug 5, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $1,000,000, $5 million, $2.5 million, $250,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, governance, compensation
Related Tickers: PZZA
TL;DR
Papa John's board shakeup and new exec comp details filed.
AI Summary
Papa John's International, Inc. filed an 8-K on August 5, 2024, reporting on events as of July 31, 2024. The filing primarily concerns the departure of directors or certain officers, the election of directors, the appointment of certain officers, and compensatory arrangements for these individuals. It also includes Regulation FD disclosures and financial statements/exhibits.
Why It Matters
Changes in a company's board of directors and executive officers, along with details on their compensation, can signal shifts in strategic direction or governance, impacting investor confidence.
Risk Assessment
Risk Level: medium — Changes in key leadership and compensation structures can introduce uncertainty regarding future strategy and performance.
Key Players & Entities
- PAPA JOHNS INTERNATIONAL INC (company) — Registrant
- 0000901491 (company) — Central Index Key
- July 31, 2024 (date) — Date of earliest event reported
- August 5, 2024 (date) — Date of report
FAQ
What specific officer positions were affected by the changes reported on July 31, 2024?
The filing indicates changes related to 'Departure of Directors or Certain Officers' and 'Appointment of Certain Officers' but does not specify the exact positions in the provided text.
Were there any new directors elected as part of these events?
Yes, the filing lists 'Election of Directors' as one of the items reported.
What is the primary purpose of the 'Regulation FD Disclosure' mentioned in the filing?
Regulation FD (Fair Disclosure) aims to prevent selective disclosure of material nonpublic information by requiring companies to publicly disseminate such information.
What type of financial statements or exhibits are included with this 8-K filing?
The filing states 'Financial Statements and Exhibits' are included, but the specific nature of these documents is not detailed in the provided text.
What is Papa John's principal executive office address?
The principal executive office is located at 2002 Papa Johns Boulevard, Louisville, Kentucky 40299-2367.
Filing Stats: 1,612 words · 6 min read · ~5 pages · Grade level 12 · Accepted 2024-08-05 08:01:01
Key Financial Figures
- $0.01 — nge on which registered: Common stock, $0.01 par value PZZA The NASDAQ Stock Market
- $1,000,000 — des for a minimum annual base salary of $1,000,000, an annual cash incentive opportunity w
- $5 million — have a target grant-date fair value of $5 million (pro-rated to $2.5 million in 2024), ma
- $2.5 million — fair value of $5 million (pro-rated to $2.5 million in 2024), made in the same allocation o
- $250,000 — eligible for a cash transition bonus of $250,000 payable as soon as practicable after De
- $1.25 million — ted sign-on compensation, consisting of $1.25 million in restricted stock, which was granted
- $150,000 — executive officers, plus an additional $150,000 payment to cover relocation and moving
- $12,000 — at a cost to the Company not to exceed $12,000, for a period of 12 months; accelerate
Filing Documents
- pzza-20240731.htm (8-K) — 35KB
- exhibit101-080524.htm (EX-10.1) — 136KB
- exhibit991-080524.htm (EX-99.1) — 14KB
- papajohnslogo.jpg (GRAPHIC) — 121KB
- 0001628280-24-034527.txt ( ) — 500KB
- pzza-20240731.xsd (EX-101.SCH) — 2KB
- pzza-20240731_lab.xml (EX-101.LAB) — 21KB
- pzza-20240731_pre.xml (EX-101.PRE) — 12KB
- pzza-20240731_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. The Company issued a press release on August 1, 2024, to announce the Chief Executive Officer appointment. A copy of the press release is attached as Exhibit 99.1 hereto. The information in the press release is being furnished, not filed, pursuant to Item 7.01 of Form 8-K. Accordingly, the information in Item 7.01 of this Current Report, including Exhibit 99.1, will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated by reference. Section 9 - Financial Statements and Exhibits
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description of Exhibit 10.1 Employment Agreement between Papa John's International, Inc. and Todd Penegor dated and effective July 31, 2024. 99.1 Papa John's International, Inc. press release dated August 1, 2024. 104 Cover page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL Document.
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PAPA JOHN'S INTERNATIONAL, INC. (Registrant) Date: August 5, 2024 /s/ Caroline Miller Oyler Caroline Miller Oyler Chief Legal & Risk Officer and Corporate Secretary