What price per share is reported on John C. Miller’s latest Papa John’s (PZZA) Form 4?

The filing reports a reference price of $31.59 per share for the 106 awarded shares. This reflects the value used for the equity award reporting, rather than a cash purchase price in an open-market trade.

Papa John’s director awarded 106 PZZA shares

Papa John's International director John C. Miller reported an acquisition of common stock through an equity award.

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Rhea-AI Filing Summary

Papa John's International director John C. Miller reported an acquisition of common stock through an equity award. On this Form 4, he received 106 shares of common stock at a reference price of $31.59 per share, described as dividend equivalent rights on annual restricted stock unit awards. Following this grant, Miller now directly holds 7,477 common shares.

Insider Trade Summary

Grant/Award: 106 shares

Grant/Award 1 txn

Insider MILLER JOHN C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	106	$31.59	$3K

Holdings After Transaction: Common Stock — 7,477 shares (Direct)

Footnotes (1)

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

FAQ

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What insider transaction did John C. Miller report at Papa John’s (PZZA)?

John C. Miller reported an acquisition of 106 shares of Papa John’s common stock. The shares were tied to dividend equivalent rights on annual restricted stock unit awards, increasing his direct holdings to 7,477 shares after the award.

Was the Papa John’s (PZZA) Form 4 transaction a purchase or an award?

The Form 4 shows an award, not an open-market purchase. The 106 shares were acquired as dividend equivalent rights on annual restricted stock unit awards, classified as a grant or other acquisition rather than a traditional buy transaction.

How many Papa John’s (PZZA) shares does John C. Miller hold after this Form 4 award?

After the reported award, John C. Miller directly holds 7,477 shares of Papa John’s common stock. This total reflects his position following the 106-share acquisition tied to dividend equivalent rights on restricted stock unit awards.

What do the dividend equivalent rights mean on the Papa John’s (PZZA) Form 4 filing?

The dividend equivalent rights represent additional shares granted in connection with annual restricted stock unit awards. Instead of receiving cash dividends, Miller received 106 shares linked to those units, which are reported as a grant-type acquisition on the Form 4.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/23/2026 - 04:37 PM EST

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^*

MILLER JOHN C

(Last)

(First)

(Middle)

P. O. BOX 99900

(Street)

LOUISVILLE

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/20/2026		A⁽¹⁾		106	A	$31.59	7,477	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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).
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.

Source: View Original Filing on SEC EDGAR