KOELLNER LAURETTE T 4

What Happened
Laurette T. Koellner, a director of Papa Johns International, Inc. (PZZA), received a grant of 4,494 restricted stock units (RSUs) on 2026-05-11. The Form 4 reports the acquisition as 4,494 shares at $0.00 (award/grant), so no cash was paid at grant.

Key Details

• Transaction date: 2026-05-11; reported on Form 4 filed 2026-05-13 (timely filing).
• Transaction type/code: Award/Grant (Code A) — 4,494 RSUs at $0.00.
• Shares owned after transaction: Not specified in this filing.
• Vesting terms (footnote): RSUs vest upon the earlier of (i) the first anniversary of the grant or (ii) the Company’s 2027 annual meeting, provided continuous board service; may vest earlier on death or disability; prorated vesting if service terminates for other reasons.

Context
This is a standard equity compensation grant to a board member, not a purchase or sale. RSUs represent a future right to receive shares (or their cash value) if vesting conditions are met; no immediate market sale occurred. Such grants are common for director compensation and do not by themselves signal insider buying or selling.