Papa John's (PZZA) director adds shares via dividend-related grants

Rhea-AI Filing Summary

Papa John's International director Laurette T. Koellner reported stock-related acquisitions tied to dividends rather than open-market buying. She acquired 230 shares of common stock at $31.59 per share as dividend equivalent rights on annual restricted stock unit awards, and 58.3676 shares at $31.59 per share from dividends on shares held in a Nonqualified Deferred Compensation Plan.

After these grant and award acquisitions, her directly held common stock increased to 26,148.7022 shares. She also reports 174 shares of common stock held indirectly by her spouse, which reflects an ownership position rather than a new transaction.

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

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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^*

KOELLNER LAURETTE T

(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)		230	A	$31.59	26,090.3346	D
Common Stock	02/20/2026		A(2)		58.3676	A	$31.59	26,148.7022	D
Common Stock								174	I	By Spouse

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.

2. Acquisition of dividends on shares held in Nonqualified Deferred Compensation Plan.

	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.
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FAQ

What did Laurette T. Koellner report in this Papa John's (PZZA) Form 4?

Laurette T. Koellner reported acquiring additional Papa John's common stock through dividend-related grants, not open-market purchases. The filing shows new shares from dividend equivalent rights on restricted stock units and dividends credited in a Nonqualified Deferred Compensation Plan.

How many Papa John's (PZZA) shares did Laurette Koellner acquire?

Laurette Koellner acquired 230 shares of Papa John's common stock plus 58.3676 additional shares. These amounts came from dividend equivalent rights on restricted stock unit awards and dividends on shares held in a Nonqualified Deferred Compensation Plan, rather than cash purchases in the market.

What is the reported price for Laurette Koellner's new PZZA shares?

The newly acquired Papa John's shares are reported at $31.59 per share. This price applies to both the 230-share dividend equivalent grant and the 58.3676 shares credited from dividends in the Nonqualified Deferred Compensation Plan, as disclosed in the Form 4 filing.

How many Papa John's (PZZA) shares does Laurette Koellner own after these transactions?

After the reported transactions, Laurette Koellner directly owns 26,148.7022 Papa John's common shares. The Form 4 also shows 174 shares held indirectly by her spouse, indicating an additional ownership position reported as indirect beneficial ownership in the filing.

Were Laurette Koellner's PZZA transactions open-market buys or grants?

The reported Papa John's share increases are classified as grant or award acquisitions, not open-market buys. Footnotes explain they result from dividend equivalent rights on restricted stock units and dividends credited in a Nonqualified Deferred Compensation Plan, both reflected as acquisitions.