secwatch.observer — SEC 8-K summary
======================================

Issuer:     PAPA JOHNS INTERNATIONAL INC (PZZA)
CIK:        0000901491
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0001628280-24-032317
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Papa John's awards retention RSUs to CFO Thanawala and CLO Oyler tied to stock price targets $65-$85
--------------------------------------------------------------------------------

- CFO/Interim CEO Ravi Thanawala receives 39,607 performance-based RSUs valued at $1.875M; CLO Caroline Oyler receives 27,725 RSUs valued at $1.3125M.
- RSUs vest based on three stock price hurdles over a 3-year performance period: $65 (30% earned), $75 (additional 30%), $85 (additional 40%).
- Awards require continued service through 4th anniversary of grant (July 17, 2024) to vest; double-trigger acceleration applies in Corporate Transaction.
- If termination without Cause within first 18 months with no hurdles met, 20% of RSUs vest immediately.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/901491/000162828024032317/0001628280-24-032317-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/901491/000162828024032317/pzza-20240717.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-032317

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer