<SEC-DOCUMENT>0001104659-24-118674.txt : 20241114
<SEC-HEADER>0001104659-24-118674.hdr.sgml : 20241114
<ACCEPTANCE-DATETIME>20241114125044
ACCESSION NUMBER:		0001104659-24-118674
CONFORMED SUBMISSION TYPE:	SC 13G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20241114
DATE AS OF CHANGE:		20241114

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAPA JOHNS INTERNATIONAL INC
		CENTRAL INDEX KEY:			0000901491
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				611203323
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1229

	FILING VALUES:
		FORM TYPE:		SC 13G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-44487
		FILM NUMBER:		241459581

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SUSQUEHANNA SECURITIES, LLC
		CENTRAL INDEX KEY:			0001446580
		ORGANIZATION NAME:           	
		IRS NUMBER:				232754552

	FILING VALUES:
		FORM TYPE:		SC 13G

	BUSINESS ADDRESS:	
		STREET 1:		401 CITY AVENUE, SUITE 220
		CITY:			BALA CYNWYD
		STATE:			PA
		ZIP:			19004
		BUSINESS PHONE:		610-617-2600

	MAIL ADDRESS:	
		STREET 1:		401 CITY AVENUE, SUITE 220
		CITY:			BALA CYNWYD
		STATE:			PA
		ZIP:			19004

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SUSQUEHANNA SECURITIES
		DATE OF NAME CHANGE:	20130709

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Susquehanna Securities
		DATE OF NAME CHANGE:	20080930
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>tm2428264d14_sc13g.htm
<DESCRIPTION>SC 13G
<TEXT>
<HTML>
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<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">CUSIP No: 698813102</P>



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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 23%; padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 54%; padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
    AND EXCHANGE COMMISSION</B></FONT></TD>
    <TD STYLE="width: 23%; padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
    D.C. 20549</B></FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-bottom: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  </TABLE>



<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13G</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"><B>(Rule&nbsp;13d-102)</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"><B>INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO &sect; 240.13d-1(b), (c)&nbsp;AND (d)&nbsp;AND
AMENDMENTS THERETO FILED</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO &sect; 240.13d-2.</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"><B>(Amendment No.&nbsp; )*</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"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>Papa
John&rsquo;s International,&nbsp;Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B></B></FONT>(Name of Issuer)</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>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Common stock, $0.01 par value per share</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Title of Class&nbsp;of Securities)</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"><B>698813102</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(CUSIP Number)</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"><B>September&nbsp;30, 2024</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of Event Which Requires Filing of this Statement)</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">Check the appropriate box to designate the rule&nbsp;pursuant to which
this Schedule is filed:</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>
    <TD STYLE="width: 5%; padding: 3pt; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD STYLE="width: 95%; padding: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule&nbsp;13d-1(b)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="padding: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule&nbsp;13d-1(c)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding: 3pt; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD>
    <TD STYLE="padding: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rule&nbsp;13d-1(d)</FONT></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"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">*The remainder of this cover page&nbsp;shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.</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 information required in the remainder of this cover page&nbsp;shall
not be deemed to be &quot;filed&quot; for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934 (&quot;Act&quot;) or otherwise
subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</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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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<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">CUSIP No: 698813102</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">
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Names
    of Reporting Persons<BR>
    Susquehanna Securities, LLC</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)&nbsp;</FONT></TD>
    <TD COLSPAN="4" STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
    the Appropriate Box if a Member of a Group (See Instructions)</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC
    Use Only </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Citizenship
    or Place of Organization <BR>
    Delaware</FONT></TD></TR>
  <TR>
    <TD COLSPAN="3" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; text-align: right">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="3" ROWSPAN="7" STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number
    of<BR>
    Shares<BR>
    Beneficially<BR>
    Owned by<BR>
    Each<BR>
    Reporting<BR>
    Person With</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sole
    Voting Power <BR>
    2,057,479</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shared
    Voting Power <BR>
    2,057,479 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sole
    Dispositive Power <BR>
    2,057,479</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shared
    Dispositive Power <BR>
    2,057,479 </FONT></TD></TR>
  <TR>
    <TD COLSPAN="6" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aggregate
    Amount Beneficially Owned by Each Reporting Person<BR>
    2,057,479 </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
    box if the Aggregate Amount in Row (9)&nbsp;Excludes Certain Shares (See Instructions)&nbsp; <FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Percent
    of Class&nbsp;Represented by Amount in Row (9)<BR>
    6.3%</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="6" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Type
    of Reporting Person (See Instructions)<BR>
    BD, OO</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; width: 3%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 5%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 5%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 1%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 4%; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; width: 82%; padding-bottom: 2pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CUSIP No: 698813102</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">
  <TR>
    <TD COLSPAN="6"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;<B>Item 1.</B></FONT></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name
                                            of Issuer</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">Papa John&rsquo;s International,&nbsp;Inc. (the &ldquo;Company&rdquo;)</P></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Address
                                            of Issuer&rsquo;s Principal Executive Offices</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">2002 Papa John&rsquo;s Boulevard</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Louisville, KY 40299-2367</P></TD></TR>
  <TR>
    <TD COLSPAN="6">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    2(a).</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Name
                                            of Person Filing</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">Susquehanna Securities, LLC</P></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    2(b).</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Address
                                            of Principal Business Office or, if none, Residence</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">401 E. City Avenue</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Suite&nbsp;220</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Bala Cynwyd, PA 19004</P></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    2(c).</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Citizenship<BR>
    Citizenship is set forth in Row 4 of the cover page&nbsp;hereto and is incorporated herein by reference.</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    2(d).</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title
    of Class&nbsp;of Securities<BR>
    Common stock, $0.01 par value per share (the &ldquo;Shares&rdquo;)</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    2(e)</B></FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CUSIP
                                            Number</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">698813102</P></TD></TR>
  <TR>
    <TD COLSPAN="6">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 3.</B></FONT></TD>
    <TD COLSPAN="5"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>If this statement
    is filed pursuant to &sect;&sect;240.13d-1(b)&nbsp;or 240.13d-2(b)&nbsp;or (c), check whether the person filing is a:</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="5">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Broker or dealer registered under
    section 15 of the Act (15 U.S.C. 78o).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bank as defined in section 3(a)(6)&nbsp;of
    the Act (15 U.S.C. 78c).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insurance company as defined in
    section 3(a)(19) of the Act (15 U.S.C. 78c).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment
    company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An investment
    adviser in accordance with &sect;240.13d-1(b)(1)(ii)(E);</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">An employee
    benefit plan or endowment fund in accordance with &sect;240.13d-1(b)(1)(ii)(F);</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A parent
    holding company or control person in accordance with &sect;240.13d-1(b)(1)(ii)(G);</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A savings
    association as defined in Section&nbsp;3(b)&nbsp;of the Federal Deposit Insurance Act (12 U.S.C. 1813);</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A church
    plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15
    U.S.C. 80a-3);</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(j)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A non-U.S. institution in accordance
    with &sect; 240.13d&ndash;1(b)(1)(ii)(J);</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(k)</FONT></TD>
    <TD COLSPAN="2" STYLE="vertical-align: top; padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT> </FONT></TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Group, in accordance with rule&nbsp;13d&ndash;1(b)(1)(ii)(K).</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If filing as a non-U.S. institution
    in accordance with &sect; 240.13d&ndash;1(b)(1)(ii)(J), please specify the type of institution:<U>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
  <TR>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
<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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CUSIP No: 698813102</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">
  <TR>
    <TD STYLE="width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 4.</B></FONT></TD>
    <TD STYLE="width: 91%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ownership</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide the following
    information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. </FONT></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The information
                                         required by Items 4(a)&nbsp;- (c)&nbsp;is set forth in Rows 5 - 11 of the cover page&nbsp;for
                                         each Reporting Person hereto and is incorporated herein by reference for each such Reporting
                                         Person.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The number of Shares reported as beneficially owned
    includes options to buy 617,200 Shares.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The Company&rsquo;s Quarterly Report on Form&nbsp;10-Q,
    filed on August&nbsp;8, 2024, indicates that there were 32,625,886 Shares outstanding as of August&nbsp;2, 2024.</P></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ownership of Five Percent or
    Less of a Class</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If this statement
    is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than
    five percent of the class of securities, check the following:&nbsp;&nbsp; </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 6.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ownership of More than Five
    Percent on Behalf of Another Person</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable.</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 7.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Identification and Classification
    of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person</B></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable.</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 8.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Identification and Classification
    of Members of the Group</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable.</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2">&nbsp;</TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 9.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Notice of Dissolution of Group</B></FONT></TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not applicable.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 9%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 10.</B></FONT></TD>
    <TD STYLE="width: 91%; padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Certification</B></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
    signing below the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were acquired
    and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing
    or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant
    in any transaction having that purpose or effect, other than activities solely in connection with a nomination under &sect; 240.14a-11.</FONT></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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CUSIP No: 698813102</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">SIGNATURE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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">After reasonable inquiry and to the best of its
knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true,
complete, and correct.</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">Dated: November&nbsp;14, 2024</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">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SUSQUEHANNA SECURITIES, LLC</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">&nbsp;</TD>
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Brian Sopinsky</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Brian Sopinsky</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Secretary</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
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