Papa John's Elects New Directors, Updates CFO Compensation

TL;DR

Papa John's adds two directors and gives CFO Ravi Thanawala a new deal with $500k base + bonus.

AI Summary

Papa John's International, Inc. announced on September 5, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Olivia K. Kirtley and David M. Miller, to its Board, effective immediately. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Ravi Thanawala, which includes a base salary of $500,000 and potential for a 100% target bonus.

Why It Matters

These changes indicate strategic shifts in leadership and financial incentives, potentially impacting the company's future performance and investor confidence.

Risk Assessment

Risk Level: low — The filing primarily concerns routine board changes and executive compensation adjustments, with no immediate negative financial implications.

Key Numbers

• $500,000 — CFO Base Salary (Ravi Thanawala's new employment agreement specifies this annual base salary.)
• 100% — CFO Target Bonus (Ravi Thanawala's new employment agreement includes a potential annual bonus of up to 100% of his base salary.)

Key Players & Entities

• Papa John's International, Inc. (company) — Registrant
• Olivia K. Kirtley (person) — Newly Elected Director
• David M. Miller (person) — Newly Elected Director
• Ravi Thanawala (person) — Chief Financial Officer
• $500,000 (dollar_amount) — CFO Base Salary

FAQ

Key Financial Figures

• $0.01 — nge on which registered: Common stock, $0.01 par value PZZA The NASDAQ Stock Market
• $675,000 — udes an increased annual base salary of $675,000, the same annual cash incentive target
• $1,500,000 — m incentive opportunity with a value of $1,500,000, all of which will be pro-rated for 202

Filing Documents

• pzza-20240905.htm (8-K) — 24KB
• exhibit991-091024.htm (EX-99.1) — 13KB
• papajohnslogo.jpg (GRAPHIC) — 121KB
• 0001628280-24-040036.txt ( ) — 327KB
• pzza-20240905.xsd (EX-101.SCH) — 2KB
• pzza-20240905_lab.xml (EX-101.LAB) — 21KB
• pzza-20240905_pre.xml (EX-101.PRE) — 12KB
• pzza-20240905_htm.xml (XML) — 3KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. The Company issued a press release on September 9, 2024, announcing Mr. Thanawala's promotion. 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 99.1 Papa John's International, Inc. press release dated September 9, 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: September 10, 2024 /s/ Caroline Miller Oyler Caroline Miller Oyler Chief Legal & Risk Officer and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR