[8-K] PAPA JOHNS INTERNATIONAL INC Reports Material Event

Rhea-AI Filing Summary

Papa John’s International, Inc. (PZZA) filed a current report to share a press release under Regulation FD. The company announced it has refranchised the restaurants previously owned and operated by Colonel’s Limited, LLC, which is a joint venture between Papa John’s and Steeplechase Express, Inc. This means those company‑joint‑venture restaurants are now being operated by franchisees instead of the joint venture itself. The press release with more detail is furnished as Exhibit 99.1 and is not incorporated into the company’s registration statements or other Exchange Act filings unless specifically referenced.

Insights

Restaurant & franchising analyst

Papa John’s shifts joint-venture stores to franchised operations.

Papa John’s reports that it has refranchised restaurants previously owned and operated by Colonel’s Limited, LLC, a joint venture with Steeplechase Express, Inc. Refranchising typically means company- or JV-operated locations are transferred to franchisees, moving from operating the stores directly to collecting franchise fees and royalties.

This kind of change can alter the mix of revenue and costs, usually reducing direct operating expenses while emphasizing fee-based income, though specific financial effects are not disclosed in the excerpt. The update is shared under Regulation FD through a furnished press release dated November 25, 2025, so more detail on the number of restaurants or transaction terms would appear there.

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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):

November 25, 2025

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 7.01. Regulation FD Disclosure.

The Company issued a press release on November 25, 2025, announcing it has refranchised the restaurants previously owned and operated by Colonel’s Limited, LLC, a joint venture between the Company and Steeplechase Express, Inc. 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, or into any filing of the Company under the Securities Exchange of 1934, as amended, unless specifically identified therein as being incorporated by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number						Description of Exhibit
99.1						Papa John’s International, Inc. press release dated November 25, 2025.
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

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: November 25, 2025			/s/ Caroline Miller Oyler
			Caroline Miller Oyler
			Chief Administrative Officer