Papa John’s (PZZA) director awarded 378 shares in equity compensation grant

Rhea-AI Filing Summary

Papa John’s International director Christopher L. Coleman received an equity-based compensation grant. On this Form 4, he acquired 378 shares of Common Stock at $34.21 per share through a grant/award tied to dividend equivalent rights on annual restricted stock unit awards. Following this award, he directly holds 49,186 shares, indicating a routine, small increase in his existing stake rather than an open-market purchase.

Insights

Equity compensation analyst

Director received a routine stock-based compensation award, not an open-market purchase.

Director Christopher L. Coleman acquired 378 shares of Papa John’s International Common Stock via a grant classified as a “Grant, award, or other acquisition.” The price reference of $34.21 per share reflects grant valuation, not a market trade.

The footnote explains these shares stem from dividend equivalent rights on annual restricted stock unit awards. Such awards are standard board compensation mechanisms and generally carry weaker signaling value than discretionary open-market buying or selling.

After the grant, Coleman directly holds 49,186 shares. The new award is small relative to his existing position, reinforcing that this is a routine compensation event rather than a major shift in insider ownership.

Insider Trade Summary

Net Buyer: 378 shares

Net Buy 1 txn

Insider Coleman Christopher L.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	378	$34.21	$13K

Holdings After Transaction: Common Stock — 49,186 shares (Direct)

Footnotes (1)

1. F1. Acquisition of dividend equivalent rights on annual restricted stock unit awards.

Key Figures

Shares granted: 378 shares Grant valuation price: $34.21 per share Post-transaction holdings: 49,186 shares

3 metrics

Shares granted 378 shares Grant/award acquisition of Common Stock

Grant valuation price $34.21 per share Valuation for reported stock award

Post-transaction holdings 49,186 shares Direct Common Stock holdings after award

Key Terms

dividend equivalent rights, restricted stock unit awards, Grant, award, or other acquisition

3 terms

dividend equivalent rights financial

"Acquisition of dividend equivalent rights on annual restricted stock unit awards."

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

restricted stock unit awards financial

"Acquisition of dividend equivalent rights on annual restricted stock unit awards."

Restricted stock unit awards are company promises to deliver a specific number of shares to employees or service providers in the future once conditions—such as staying with the company for a set time or meeting performance targets—are met. They matter to investors because when the promises convert into actual shares they increase the total share count and can reduce earnings per share, while also aligning recipients’ interests with stock performance much like deferred pay that turns into ownership if goals are met.

Grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 06/01/2026 - 04:49 PM Learn about SEC filing dates

FAQ

What insider transaction did Papa John’s (PZZA) report for Christopher L. Coleman?

Papa John’s reported that director Christopher L. Coleman acquired 378 shares of Common Stock. The shares were received as a grant classified as a “Grant, award, or other acquisition,” rather than an open-market purchase, reflecting routine equity-based compensation.

At what price were Christopher L. Coleman’s new Papa John’s (PZZA) shares valued?

The 378 newly acquired Papa John’s shares were valued at $34.21 per share. This figure represents the grant valuation used for reporting the award, rather than a price paid in an open-market transaction, since the shares were issued as compensation.

How many Papa John’s (PZZA) shares does Christopher L. Coleman hold after this Form 4?

Following the reported grant, Christopher L. Coleman directly holds 49,186 shares of Papa John’s Common Stock. This shows the 378-share award is small relative to his overall ownership, suggesting a routine adjustment to his equity position through compensation.

What is the nature of the equity award reported for Papa John’s (PZZA) director Coleman?

The award consists of shares received from dividend equivalent rights on annual restricted stock unit awards. These rights credit additional shares based on dividends that would have been paid, turning them into stock as part of ongoing director compensation.

Does Christopher L. Coleman’s Form 4 for Papa John’s (PZZA) show a stock purchase or compensation grant?

The Form 4 shows a compensation grant, not a market purchase. The transaction code “A” and description “Grant, award, or other acquisition” indicate the 378 shares were issued as part of equity compensation, linked to dividend equivalent rights on RSU awards.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Coleman Christopher L.

(Last) (First) (Middle)

P. O. BOX 99900

(Street)

LOUISVILLE KENTUCKY 40269

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
PAPA JOHNS INTERNATIONAL INC [ PZZA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/29/2026		A(1)		378	A	$34.21	49,186	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Acquisition of dividend equivalent rights on annual restricted stock unit awards.

	Debra Tate Johnson, by Power of Attorney	06/01/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)