MILLER JOHN C 4

What Happened

• John C. Miller, a director of Papa Johns International, received an award of 106 shares (transaction code A) on Feb 20, 2026. The reported acquisition price-equivalent was $31.59 per share, for a total reported value of $3,349. This was an award/grant (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-02-20; Form 4 filed: 2026-02-23 (filed within the two-business-day SEC deadline).
• Price reported: $31.59 per share; total value reported: $3,349.
• Shares acquired: 106. Shares owned after the transaction: not specified in the provided filing excerpt.
• Transaction code: A (award/grant). Footnote F1: acquisition of dividend equivalent rights on annual restricted stock unit (RSU) awards — these are typically tied to RSUs rather than immediate free-and-clear shares.
• No late-filing indicator (no "L") was reported.

Context

• This was a compensation-related award (dividend equivalent rights on annual RSUs), not a market purchase; such awards are routine for directors and generally represent deferred/contingent compensation that may vest over time. As with most grants, it should not be interpreted alone as a directional signal about the insider’s view of the stock.