Director at Papa Johns (PZZA) receives 226-share dividend-equivalent stock award

Rhea-AI Filing Summary

Papa Johns International director Jocelyn C. Mangan reported an acquisition of 226 shares of common stock through a grant or award. The shares were valued at $31.59 per share and are described as dividend equivalent rights on annual restricted stock unit awards. After this award, her directly held common stock position is reported as 15,965 shares. This filing reflects equity-based compensation rather than an open-market purchase or sale.

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

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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^*

Mangan Jocelyn C

(Last) (First) (Middle)

P. O. BOX 99900

(Street)

LOUISVILLE KY 40269

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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

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

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

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	02/20/2026		A(1)		226	A	$31.59	15,965	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	02/23/2026
	** 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).
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FAQ

What insider transaction did Papa Johns (PZZA) director Jocelyn Mangan report?

Director Jocelyn C. Mangan reported acquiring 226 shares of Papa Johns common stock. The filing classifies this as a grant or award, linked to dividend equivalent rights on annual restricted stock unit awards, rather than an open-market trade.

Was the PZZA insider transaction a buy or a stock award?

The transaction was a stock award, not an open-market buy. It is coded as a grant or award acquisition of 226 common shares, tied to dividend equivalent rights on annual restricted stock unit awards, which are part of her equity compensation.

At what price were the awarded Papa Johns (PZZA) shares valued?

The 226 awarded shares of Papa Johns common stock were valued at $31.59 per share. This price is used in the Form 4 for reporting purposes and reflects the value associated with the equity-based compensation grant on the transaction date.

How many Papa Johns (PZZA) shares does Jocelyn Mangan hold after this Form 4 transaction?

After the reported award, Jocelyn C. Mangan directly holds 15,965 shares of Papa Johns common stock. This total includes the newly acquired 226 shares from dividend equivalent rights tied to her annual restricted stock unit awards.

What do dividend equivalent rights on RSU awards mean for PZZA shareholders?

Dividend equivalent rights grant additional shares or value mirroring dividends on restricted stock units. For Jocelyn Mangan, this resulted in 226 extra common shares, reflecting the dividend-equivalent component of her annual restricted stock unit compensation from Papa Johns.