<SEC-DOCUMENT>0001104659-22-045523.txt : 20220413
<SEC-HEADER>0001104659-22-045523.hdr.sgml : 20220413
<ACCEPTANCE-DATETIME>20220413163716
ACCESSION NUMBER:		0001104659-22-045523
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220413
DATE AS OF CHANGE:		20220413

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:			1225

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-21660
		FILM NUMBER:		22825077

	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>DEFA14A
<SEQUENCE>1
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<DESCRIPTION>DEFA14A
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">the Securities Exchange Act of 1934 (Amendment
No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; )</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="2" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by the Registrant&nbsp;<FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD></TR>
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    <TD COLSPAN="2" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
by a Party other than the Registrant&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
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    <TD COLSPAN="2" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check the appropriate box:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="width: 95%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting Material under &sect;240.14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>Papa
    John&rsquo;s International,&nbsp;Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name of Registrant as Specified In Its Charter)</FONT></TD></TR>
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    <TD COLSPAN="3" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt">&nbsp;</TD></TR>
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    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name of Person(s)&nbsp;Filing Proxy Statement, if other than the Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-left: 10.1pt; text-align: justify; text-indent: -10.1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Payment of Filing Fee (Check the appropriate box):</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee required.</FONT></TD></TR>
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    <TD STYLE="width: 5%; padding-left: 10pt; text-align: justify; text-indent: -10pt">&nbsp;</TD>
    <TD STYLE="width: 0%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 95%; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 10pt; text-align: justify; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table in exhibit required by Item 25(b)&nbsp;per Exchange Act Rules&nbsp;14a6(i)(1)&nbsp;and 0-11</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Explanatory Note</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following information relates to and supplements
the proxy statement (the &ldquo;Proxy Statement&rdquo;) of Papa John&rsquo;s International,&nbsp;Inc. (the &ldquo;Company&rdquo;), dated
March&nbsp;22, 2022, furnished to stockholders of the Company in connection with the solicitation of proxies by the Board of Directors
of the Company for use at the 2022 Annual Meeting of Stockholders to be held virtually at 11:00 a.m.&nbsp;Eastern Time on April&nbsp;26,
2022, and at any adjournment or postponement of the meeting.</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Transactions with Related Persons</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The section subtitled &ldquo;Endorsement Agreement&rdquo; on page&nbsp;41
of the Proxy Statement is hereby supplemented with the below information, which is also included in the Company&rsquo;s Current Report
on Form&nbsp;8-K filed with the Securities and Exchange Commission on April&nbsp;13, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Endorsement Agreement</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
</FONT>April&nbsp;10, 2022, Papa John&rsquo;s International,&nbsp;Inc. (the &ldquo;Company&rdquo;) and Papa John&rsquo;s Marketing Fund
(&ldquo;PJMF&rdquo;) entered into an Endorsement Agreement (the &ldquo;Endorsement Agreement&rdquo;), effective March&nbsp;15, 2022, with
ABG-Shaq, LLC (&ldquo;ABG-Shaq&rdquo;), an entity affiliated with Shaquille O&rsquo;Neal, for the personal services of Mr.&nbsp;O&rsquo;Neal.
Mr.&nbsp;O&rsquo;Neal is a non-independent director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Endorsement Agreement replaces the previous Endorsement Agreement,
effective March&nbsp;15, 2019, by and between the Company, PJMF and ABG-Shaq, as amended (the &ldquo;Prior Endorsement Agreement&rdquo;)
which expired by its terms on March&nbsp;15, 2022. The terms of the Endorsement Agreement, which are detailed below, are substantially
similar to the Prior Endorsement Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the Endorsement Agreement, the Company and PJMF received the right and license to use Mr.&nbsp;O&rsquo;Neal&rsquo;s name, nickname,
initials, autograph, voice, video or film portrayals, photograph, likeness and certain other intellectual property rights (individually
and collectively, the &ldquo;Personality Rights&rdquo;), in each case, solely as approved by ABG-Shaq, in connection with the advertising,
promotion and sale of Papa John&rsquo;s-branded products. Mr.&nbsp;O&rsquo;Neal will also provide brand ambassador services related to
appearances, social media and public relations matters</FONT>. The Endorsement Agreement also renewed the offering of the co-branded extra-large
pizza product developed among the Company, PJMF and ABG-Shaq under the Prior Endorsement Agreement, and provides that one U.S. dollar
for each unit of the co-branded pizza sold in the United States will be donated to The Papa John&rsquo;s Foundation for Building Community
and one Canadian dollar for each unit sold in Canada will be donated to a charity mutually agreed-upon between the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
consideration for the rights and services granted under the Endorsement Agreement, the Company and PJMF agreed to pay to ABG-Shaq aggregate
cash payments of $</FONT>5.625 million over the three years of the Endorsement Agreement. The Company and PJMF will also pay ABG-Shaq
a royalty fee for the co-branded pizza product if the total amount of royalties in a given contract year (calculated as $0.20 per co-branded
pizza sold) exceeds the contractual cash payment for that year, in which case the amount of the royalty payment will be the excess of
the royalties over the cash payment amount. The Company and PJMF will also pay expenses related to the marketing and personal services
provided by Mr.&nbsp;O&rsquo;Neal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the Company agreed to grant </FONT>55,898 restricted stock units (the &ldquo;RSUs&rdquo;) to Mr.&nbsp;O&rsquo;Neal (as agent
of ABG) under the Company&rsquo;s 2018 Omnibus Incentive Plan. The RSUs will vest into an equivalent number of shares of the Company&rsquo;s
common stock according to the following vesting schedule:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 45px; padding-left: 21pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT>3% (18,632) of the RSUs will vest on April&nbsp;12, 2023;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 45px; padding-left: 21pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">33% (</FONT>18,632) of the RSUs will vest on March&nbsp;15, 2024; and</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 45px; padding-left: 21pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&#183;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT>3% (18,634) of the RSUs will vest on March&nbsp;15, 2025.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
initial term of the Endorsement Agreement ends on March&nbsp;15, 202</FONT>5, with an option for a one-year extension upon the parties&rsquo;
mutual agreement. The Endorsement Agreement also includes customary exclusivity, termination and indemnification clauses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The entry into the Endorsement Agreement with ABG-Shaq was reviewed
and approved in advance by the Company&rsquo;s Corporate Governance and Nominating Committee prior to being approved by the full Board
of Directors, in accordance with the Company&rsquo;s Related Person Transaction Policies and Procedures.</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4. Stockholder Proposal Regarding ESG Disclosure Related to
Pork Housing</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company hereby replaces in its entirety the &ldquo;Resolved&rdquo;
clause of the stockholder proposal included on page&nbsp;47 of the Proxy Statement to correct a minor typographical error relating to
the inadvertent addition of an extra word. The revised text is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.25in 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>THEREFORE,
BE IT RESOLVED:</B></FONT>&nbsp;&nbsp;Shareholders request that Papa John&rsquo;s disclose what percentage of its pork comes from supply
systems where pigs are not confined in gestation crates as well as the specific steps the company has taken &ndash; and will take &ndash;
toward implementing its gestation crate commitment. &nbsp;These disclosures should be made within three months of the 2022 annual meeting,
at reasonable cost, and omit proprietary information.</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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