<SEC-DOCUMENT>0001157523-18-000941.txt : 20180502
<SEC-HEADER>0001157523-18-000941.hdr.sgml : 20180502
<ACCEPTANCE-DATETIME>20180502160049
ACCESSION NUMBER:		0001157523-18-000941
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180426
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180502
DATE AS OF CHANGE:		20180502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAPA JOHNS INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000901491
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				611203323
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21660
		FILM NUMBER:		18799498

	BUSINESS ADDRESS:	
		STREET 1:		2002 PAPA JOHNS BOULEVARD
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40299-2334
		BUSINESS PHONE:		5022617272

	MAIL ADDRESS:	
		STREET 1:		P O BOX 99900
		CITY:			LOUISVILLE
		STATE:			KY
		ZIP:			40269-9990
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51799530.htm
<DESCRIPTION>PAPA JOHN'S INTERNATIONAL, INC. 8-K
<TEXT>
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    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 16pt"><b>UNITED STATES</b></font><br><font style="font-size: 16pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><b>Washington, D.C. 20549</b>
    </p>
    <p style="text-align: center">
      &#160;<font style="font-size: 16pt"><b>FORM 8-K</b></font><br><br><b>Current
      Report Pursuant to Section 13 or 15(d)</b><br><b>Of the Securities
      Exchange Act of 1934</b>
    </p>
    <p style="white-space: nowrap; text-align: center">
      Date of Report (Date of earliest event reported):&#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt"><b>April
      26, 2018</b></font><br><br><font style="font-size: 16pt"><b>Papa John's
      International, Inc.</b></font><br><font style="font-family: Times New Roman; font-size: 10pt">(Exact
      name of registrant as specified in its charter)</font>
    </p>
    <p style="text-align: center">
      <b>Delaware</b><br>(State or other jurisdiction of incorporation)
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="top" style="width: 14%; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="width: 28%; text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>0-21660</b>
          </p>
        </td>
        <td valign="bottom" style="width: 16%; text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="bottom" style="width: 28%; text-align: center; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>61-1203323</b>
          </p>
        </td>
        <td style="width: 14%">

        </td>
      </tr>
      <tr>
        <td style="width: 14%">

        </td>
        <td valign="bottom" style="width: 28%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
        </td>
        <td valign="bottom" style="width: 16%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td valign="bottom" style="width: 28%; text-align: center; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer Identification No.)
          </p>
        </td>
        <td style="width: 14%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <b>2002 Papa John's Boulevard</b><br><b>Louisville, Kentucky 40299-2367</b><br>(Address
      of principal executive offices) (Zip Code)
    </p>
    <p style="text-align: center">
      <b>(502) 261-7272</b><br>(<font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code)</font>
    </p>
    <p style="text-align: center">
      <b>N/A</b><br><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      &#160;&#160;&#160;<font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Indicate by
      check mark whether the registrant is an emerging growth company as
      defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
      chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).</font>
    </p>
    <p>

    </p>
    <p>
      Emerging growth company <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">If an
      emerging growth company, indicate by check mark if the registrant has
      elected not to use the extended transition period for complying with any
      new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.</font> <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
    </p>
    <p>

    </p>
    <hr style="width: 100%; height: 1.0 pt; color: #000000; text-align: center">
    <hr style="width: 100%; height: 3.0 pt; color: #000000; text-align: center">


    <p>

    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <b>Item 5.02. Departure of Directors or Certain Officers; Election of
      Directors; Appointment of Certain Officers; Compensatory Arrangements of
      Certain Officers.</b>
    </p>
    <p style="text-align: justify">
      On April 26, 2018, Papa John&#8217;s International, Inc. (the &quot;Company&quot;)
      promoted Joseph H. Smith IV, 54, to Chief Financial Officer (CFO),
      effective&#160;immediately.&#160;&#160;Mr. Smith has approximately 33 years of
      experience in finance, development and auditing, and is a Certified
      Public Accountant.&#160;&#160;&#160;He joined Papa John&#8217;s in 2000, serving most
      recently as Senior Vice President, Global Sales and Development since
      2016 and as Vice President, Global Sales and Development from 2010 to
      2016.&#160;&#160;He served as Vice President of Corporate Finance from 2005 to
      2010 and as Senior Director of Corporate Budgeting and Finance from 2000
      to 2005.&#160;&#160;Prior to joining Papa John&#8217;s, Mr. Smith served as Corporate
      Controller for United Catalysts, Inc. from 1998 to 2000.&#160;Mr. Smith&#160;began
      his career in public accounting in 1985 at&#160;Ernst &amp; Young.
    </p>
    <p>
      On May 1, 2018, the Compensation Committee approved an employment
      agreement for Mr. Smith (&#8220;CFO Employment Agreement&#8221;) in the same form as
      the employment agreement for its other senior executives.&#160;&#160;The CFO
      Employment Agreement has a three-year term and automatically renews for
      successive one-year terms unless either party gives written notice of
      termination at least 60 days prior to the expiration of the current
      term.&#160;&#160;The CFO Employment Agreement provides for a minimum annual base
      salary (set currently at $350,000), annual cash bonus and equity awards
      opportunities, and benefits as afforded to similarly situated employees.
      During the term of the CFO Employment Agreement, base salary increases,
      and the amount and terms of bonus awards and equity awards are at the
      discretion of the Compensation Committee of the Board of Directors.&#160;&#160;The
      Compensation Committee set Mr. Smith&#8217;s long term incentive target at 75%
      of base salary and his long term annual incentive value at $400,000.
    </p>
    <p>
      Mr.&#160;Smith has no direct or indirect material interest in any transaction
      required to be disclosed pursuant to Item&#160;404(a) of Regulation&#160;S-K, has
      no arrangement or understanding between him and any other person
      required to be disclosed pursuant to Item&#160;401(b) of Regulation S-K and
      has no family relationships required to be disclosed pursuant to
      Item&#160;401(d) of Regulation S-K.&#160;&#160;Mr. Smith participates in the
      compensation programs as outlined in the Company&#8217;s definitive proxy
      statement for its 2018 annual meeting of stockholders filed with the
      Securities and Exchange Commission on March 28, 2018, which information
      is incorporated by reference herein.
    </p>
    <p>
      Also on May 1, 2018, the Compensation Committee approved an amendment
      (the &#8220;Amendment&#8221;) of the employment agreement entered into March 1, 2015
      with President and Chief Executive Officer Steve Ritchie, when Mr.
      Ritchie was Senior Vice President and Chief Operating Officer of the
      Company.&#160;&#160;The Amendment extended from nine to eighteen months the
      post-termination severance period in the circumstances provided in the
      agreement.&#160;
    </p>
    <p>
      <br>
      <b>Item 7.01.&#160;&#160;Regulation FD Disclosure. </b>
    </p>
    <p>
      The Company issued a press release on April 26, 2018. A copy of the
      press release is attached as Exhibit 99.1 hereto.
    </p>
    <p>

    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          2
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      The information in the press release is being furnished, not filed,
      pursuant to Item 7.01 of Form 8-K. Accordingly, the information in Item
      7.01 of this Current Report, including Exhibit 99.1, will not be
      incorporated by reference into any registration statement filed by the
      Company under the Securities Act of 1933, as amended, unless
      specifically identified therein as being incorporated by reference.
    </p>
    <p>
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Item 9.01. Financial Statements and Exhibits.</b>
        </td>
      </tr>
      <tr>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          (d) Exhibits
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="bottom" style="width: 10%; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; border-bottom-style: solid">
          <b>Exhibit</b>

          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Number</b>
          </p>
        </td>
        <td valign="bottom" style="width: 2%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          &#160;
        </td>
        <td valign="bottom" style="width: 88%; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-left: 100.0px; border-bottom-style: solid">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Description of Exhibit</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 10%; text-align: left; padding-right: 0.0px; padding-left: 0.0px; white-space: nowrap">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51799530_ex991.htm">99.1</a>
          </p>
        </td>
        <td valign="top" style="width: 2%; text-align: left; padding-left: 0.0px">

        </td>
        <td valign="top" style="width: 88%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <a href="a51799530_ex991.htm">Press release dated April 26, 2018</a>.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <div style="width: 100%; margin-left: 0pt; margin-bottom: 10pt; margin-right: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; font-size: 10pt; text-align: center">
          3
        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: left">

    </p>
    <p style="text-align: left">
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
    <p style="text-align: left">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 50%">

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>PAPA JOHN'S INTERNATIONAL, INC.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 50%">

        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          (Registrant)
        </td>
        <td style="width: 14%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 6%; text-align: left; padding-left: 0.0px">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 30%">

        </td>
        <td style="width: 14%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 6%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          Date:
        </td>
        <td valign="top" style="width: 50%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            May 2, 2018
          </p>
        </td>
        <td valign="top" style="width: 30%; border-bottom-color: black; border-bottom-width: 1.0pt; text-align: left; padding-left: 0.0px; border-bottom-style: solid">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Steve M. Ritchie
          </p>
        </td>
        <td style="width: 14%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 50%">

        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Steve M. Ritchie
          </p>
        </td>
        <td style="width: 14%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 50%">

        </td>
        <td valign="top" colspan="2" style="text-align: left; padding-left: 0.0px">
          <p style="margin-bottom: 0px; margin-top: 0px">
            President and Chief Executive Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <br>
      4
    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51799530_ex991.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2018 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Papa
      John&#8217;s Announces Joe Smith as Chief Financial Officer</b></font>
    </p>
    <p>
      LOUISVILLE, Ky.--(BUSINESS WIRE)--April 26, 2018--Papa John&#8217;s
      International, Inc. (NASDAQ: PZZA) today announced that&#160;Joe Smith, most
      recently Senior Vice President, Global Sales and Development for Papa
      John&#8217;s, has been promoted to Chief Financial Officer (CFO)
      effective&#160;immediately.
    </p>
    <p>
      Mr. Smith, 54, has approximately 33 years of experience in finance,
      development and auditing, and is a Certified Public Accountant. He
      joined Papa John&#8217;s in 2000, serving most recently as Senior Vice
      President, Global Sales and Development since 2016 and as Vice
      President, Global Sales and Development from 2010 to 2016. He served as
      Vice President of Corporate Finance from 2005 to 2010 and as Senior
      Director of Corporate Budgeting and Finance from 2000 to 2005. Prior to
      joining Papa John&#8217;s, Mr. Smith served as Corporate Controller for United
      Catalysts, Inc. from 1998 to 2000.&#160;Mr. Smith&#160;began his career in public
      accounting in 1985 at&#160;Ernst &amp; Young.
    </p>
    <p>
      President and Chief Executive Officer Steve Ritchie commented, &#8220;Joe has
      had an integral role in the growth of Papa John&#8217;s during his 18 years
      with the Company, including 10 years in Finance and 8 years in our
      Global Development departments. His knowledge and experience position
      him well to serve as our new CFO, particularly given the work underway
      to evaluate and invest in new opportunities for value creation. I look
      forward to working with Joe in his new role.&#8221; Founder Chairman John
      Schnatter added, &quot;Joe has demonstrated strong finance skills and
      integrity in his many years with Papa John&#8217;s, and his promotion is well
      deserved. His extensive knowledge of our Company and industry make him
      the ideal person to lead our finance team.&#8221; &#8220;I&#8217;m excited to be named
      Papa John&#8217;s CFO,&#8221; said Smith. &#8220;I look forward to continuing to work
      closely with Steve Ritchie and our entire management team, John
      Schnatter and our Board of Directors and our franchise system.&#8221;
    </p>
    <p>
      Steve Coke, who has been serving as interim principal financial and
      accounting officer, will continue to serve as Vice President, Investor
      Relations and Strategy.
    </p>
    <p>
      <u><b>Forward-Looking Statements</b></u>
    </p>
    <p>
      Certain matters discussed in this press release and other company
      communications constitute forward-looking statements within the meaning
      of the federal securities laws. Generally, the use of words such as
      &#8220;expect,&#8221; &#8220;intend,&#8221; &#8220;estimate,&#8221; &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;will,&#8221;
      &#8220;forecast,&#8221; &#8220;plan,&#8221; &#8220;project,&#8221; or similar words identify forward-looking
      statements that we intend to be included within the safe harbor
      protections provided by the federal securities laws. Such
      forward-looking statements may relate to projections or guidance
      concerning business performance, revenue, earnings, cash flow,
      contingent liabilities, resolution of litigation, commodity costs,
      profit margins, unit growth, unit level performance, capital
      expenditures, share repurchases, dividends, effective tax rates, the
      impact of the Tax Cuts and Job Act and the adoption of new accounting
      standards, and other financial and operational measures. Such statements
      are not guarantees of future performance and involve certain risks,
      uncertainties and assumptions, which are difficult to predict and many
      of which are beyond our control. Therefore, actual outcomes and results
      may differ materially from those matters expressed or implied in such
      forward-looking statements. Our risk factors are discussed in detail in
      &#8220;Part I. Item 1A. &#8211; Risk Factors&#8221; in our Annual Report on Form 10-K for
      the fiscal year ended December 31, 2017. We undertake no obligation to
      update publicly any forward-looking statements, whether as a result of
      future events, new information or otherwise, except as required by law.
    </p>
    <p>
      For more information about the company, please visit <u>www.papajohns.com</u>.
    </p>
    <p>

    </p>
    <p>
      CONTACT:<br>Papa John&#8217;s International, Inc.<br>Steve Coke,
      502-261-7272<br>Vice President of Investor Relations and Strategy
    </p>
    <p>

    </p>
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</TEXT>
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