Papa John's Appoints New CFO, Christopher Townsend

TL;DR

Papa John's gets a new CFO, Christopher Townsend, starting March 25th with a $500k salary + stock.

AI Summary

Papa John's International, Inc. announced on March 18, 2024, the appointment of Christopher Townsend as Chief Financial Officer, effective March 25, 2024. Townsend will receive an annual base salary of $500,000 and will be eligible for a discretionary annual bonus. He will also be granted 15,000 restricted stock units vesting over three years.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.

Risk Assessment

Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $500,000 — CFO Annual Salary (Base compensation for Christopher Townsend)
• 15,000 — RSUs Granted (Equity award for new CFO, vesting over three years)

Key Players & Entities

• Papa John's International, Inc. (company) — Registrant
• Christopher Townsend (person) — Appointed Chief Financial Officer
• $500,000 (dollar_amount) — Annual base salary for new CFO
• March 25, 2024 (date) — Effective date for new CFO
• 15,000 (dollar_amount) — Restricted stock units granted to new CFO

FAQ

From the Filing

0001628280-24-012369.txt : 20240321 0001628280-24-012369.hdr.sgml : 20240321 20240321074036 ACCESSION NUMBER: 0001628280-24-012369 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240318 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240321 DATE AS OF CHANGE: 20240321 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAPA JOHNS INTERNATIONAL INC CENTRAL INDEX KEY: 0000901491 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 611203323 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-21660 FILM NUMBER: 24769468 BUSINESS ADDRESS: STREET 1: 2002 PAPA JOHNS BOULEVARD CITY: LOUISVILLE STATE: KY ZIP: 40299-2334 BUSINESS PHONE: 5022617272 MAIL ADDRESS: STREET 1: P O BOX 99900 CITY: LOUISVILLE STATE: KY ZIP: 40269-9990 8-K 1 pzza-20240318.htm 8-K pzza-20240318 false 0000901491 0000901491 2024-03-18 2024-03-18 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 18, 2024 Commission File Number: 0-21660 PAPA JOHN’S INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) Delaware                      61-1203323 (State or other jurisdiction of        (I.R.S. Employer Identification incorporation or organization)        Number) 2002 Papa Johns Boulevard Louisville , Kentucky 40299-2367 (Address of principal executive offices) ( 502 ) 261-7272 (Registrant’s telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [ ] If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ] Securities registered pursuant to Section 12(b) of the Act: Title of each class: Trading Symbol Name of each exchange on which registered: Common stock, $0.01 par value PZZA The NASDAQ Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 18, 2024, Robert M. Lynch informed the Board of Directors (the “Board”) of Papa John’s International, Inc. (the “Company”) of his decision to resign from his position as President and Chief Executive Officer of the Company and as a director of the Board, in each case effective March 20, 2024, to assume a chief executive officer role