Oyler Caroline Miller 4
4 · PAPA JOHNS INTERNATIONAL INC · Filed Jul 19, 2024
Insider Transaction Report
Form 4
Oyler Caroline Miller
Chief Administrative Officer
Transactions
- Award
Performance-based Restricted Stock Units
2024-07-17+27,725→ 27,725 total→ Common Stock (27,725 underlying)
Footnotes (3)
- [F1]Each performance-based restricted stock unit ("RSU") represents a contingent right to receive one PZZA common share.
- [F2]The reported RSUs are eligible to become earned based on achievement of three stock price appreciation hurdles over a three-year performance period from the date of grant, subject to a four-year continued service requirement. The average closing trading price of the Company's common stock must exceed the applicable stock price hurdle for 30 consecutive trading days at any point during the three-year performance period in order for the stock price hurdle to be considered achieved. The number of RSUs that will be earned and the applicable stock price hurdles are as follows: (1) 30% of the RSUs are earned at a price hurdle of $65.00; (2) an additional 30% are earned at a price hurdle of $75.00; and (3) an additional 40% are earned at a price hurdle of $85.00.
- [F3]The number of earned RSUs, if any, will vest on the fourth anniversary of the grant date subject to the reporting person's continued service.