<SEC-DOCUMENT>0001398344-23-022239.txt : 20231205
<SEC-HEADER>0001398344-23-022239.hdr.sgml : 20231205
<ACCEPTANCE-DATETIME>20231205152549
ACCESSION NUMBER:		0001398344-23-022239
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20231205
DATE AS OF CHANGE:		20231205

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POTBELLY CORP
		CENTRAL INDEX KEY:			0001195734
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				364466837
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-87909
		FILM NUMBER:		231466320

	BUSINESS ADDRESS:	
		STREET 1:		111 N. CANAL
		STREET 2:		SUITE 325
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129510600

	MAIL ADDRESS:	
		STREET 1:		111 N. CANAL
		STREET 2:		SUITE 325
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Chain of Lakes Investment Fund, LLC
		CENTRAL INDEX KEY:			0001762999
		IRS NUMBER:				832465159
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		8101 34TH AVENUE SOUTH
		STREET 2:		SUITE 400
		CITY:			BLOOMINGTON
		STATE:			MN
		ZIP:			55425
		BUSINESS PHONE:		651-256-6160

	MAIL ADDRESS:	
		STREET 1:		8101 34TH AVENUE SOUTH
		STREET 2:		SUITE 400
		CITY:			BLOOMINGTON
		STATE:			MN
		ZIP:			55425
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>fp0086178-1_sc13da.htm
<TEXT>
<HTML>
<HEAD>
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<P STYLE="margin: 0; font-weight: bold; text-align: center">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; font-weight: bold; text-align: center">SCHEDULE 13D<BR>
<BR></P>

<P STYLE="margin: 0; text-align: center">Under the Securities Exchange Act of 1934 (Amendment
No. 1)<BR>
<BR></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: center">Potbelly Corporation</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Name of Issuer)</TD></TR>
  </TABLE>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: center">Common Stock, par value $0.01 per share</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Title of Class of Securities)</TD></TR>
  </TABLE>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: center">73754Y100</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(CUSIP Number)</TD></TR>
  </TABLE>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%"><P STYLE="margin: 0; text-align: center">Chain of Lakes Investment Fund, LLC</P>
    <P STYLE="margin: 0; text-align: center">8101 34<SUP>th</SUP> Avenue South, Suite 400</P>
    <P STYLE="margin: 0; text-align: center">Bloomington, Minnesota 55425</P>
    <P STYLE="margin: 0; text-align: center">Attention: Timothy O&rsquo;Connell</P>
    <P STYLE="margin: 0; text-align: center">Telephone: (702) 807-7858</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</TD></TR>
  </TABLE>
<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; width: 100%; text-align: center">December 1, 2023</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(Date of Event which Requires Filing of this Statement)</TD></TR>
  </TABLE>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">If the filing person has previously filed a statement
on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of 240.13d-1(e),
240.13d-1(f) or 240.13d-1(g), check the following box&nbsp;&nbsp;[ ].</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Note: Schedules filed in paper format shall include
a signed original and five copies of the schedule, including all exhibits. See 240.13d-7(b) for other parties to whom copies are to be
sent.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">*The remainder of this cover page shall be filled
out for a reporting person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent
amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">The information required on the remainder of this
cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;)
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>


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<P STYLE="margin: 0pt 0 0; text-align: justify"></P>

<P STYLE="margin: 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="margin: 0; text-align: center"></P>

<P STYLE="margin: 0; text-align: center"></P>

<P STYLE="margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 50%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; width: 26%; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>CUSIP
    No.</B></TD>
    <TD STYLE="border-top: black 1pt solid; width: 74%; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">73754Y100</TD></TR>
  </TABLE>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 5%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>1</B></TD>
    <TD STYLE="border-top: black 1pt solid; width: 95%; border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">NAMES
    OF REPORTING PERSONS</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">Chain
    of Lakes Investment Fund, LLC</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>2</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CHECK THE APPROPRIATE BOX IF A
    MEMBER OF A GROUP*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt"><P STYLE="margin: 0 0 0 17.3pt; text-align: justify">(a) [ &nbsp;]</P>
    <P STYLE="margin: 0 0 0 17.3pt; text-align: justify">(b) [&nbsp; ]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>3</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SEC USE ONLY</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>4</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SOURCE OF FUNDS (See Instructions)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">OO</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>5</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS
    IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: right">&nbsp;[&nbsp;&nbsp;
    ]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>6</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CITIZENSHIP OR PLACE OF ORGANIZATION</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">Delaware</TD></TR>
  </TABLE>
<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="8" STYLE="vertical-align: middle; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; width: 30%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: center">NUMBER
    OF<BR>
    SHARES<BR>
    BENEFICIALLY<BR>
    OWNED BY<BR>
    EACH<BR>
    REPORTING<BR>
    PERSON<BR>
    WITH</TD>
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; width: 5%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>7</B></TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; width: 60%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SOLE
    VOTING POWER</TD>
    <TD STYLE="border-top: black 1pt solid; width: 5%; border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">0</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>8</B></TD>
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SHARED VOTING POWER</TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">1,446,356
    shares(1)</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>9</B></TD>
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">0</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>10</B></TD>
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">1,446,356
    shares(1)</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 5%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>11</B></TD>
    <TD STYLE="border-right: Black 1pt solid; width: 95%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">AGGREGATE AMOUNT BENEFICIALLY
    OWNED BY EACH REPORTING PERSON</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">1,446,356
    shares(1)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>12</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CHECK BOX IF THE AGGREGATE AMOUNT
    IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: right">[&nbsp;&nbsp;
    ]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>13</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">PERCENT OF CLASS REPRESENTED BY
    AMOUNT IN ROW (11)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">4.9%
    (2)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>14</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">TYPE OF REPORTING PERSON (See
    Instructions)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">PN</TD></TR>
  </TABLE>
<P STYLE="margin: 0pt"></P>

<P STYLE="margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: center"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">Consists
                                            of 1,369,008 shares of common stock, par value $0.01 per share, and 77,348 shares of common
                                            stock, par &nbsp;&nbsp;&nbsp;&nbsp;value $0.01 per share, issuable upon exercise of exercisable
                                            warrants (as defined in Item 5 below).</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify">Percentage
                                            calculated based on 29,358,757 shares of common stock, par value $0.01 per share, outstanding
                                            as of October 22, 2023, as reported in the Form 10-Q for the quarterly period ended September
                                            24, 2023, of Potbelly Corporation.</TD>
</TR></TABLE>


<P STYLE="margin: 0; text-indent: 0in"></P>


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<P STYLE="margin: 0; font-weight: bold; text-align: center">SCHEDULE 13D</P>

<P STYLE="margin: 0pt 0 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 50%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-top: Black 1pt solid; vertical-align: top; width: 26%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: justify"><B>CUSIP
    No.</B></TD>
    <TD STYLE="border-top: Black 1pt solid; width: 74%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: justify">73754Y100</TD></TR>
  </TABLE>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-top: black 1pt solid; border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; width: 5%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>1</B></TD>
    <TD STYLE="border-top: black 1pt solid; width: 95%; border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">NAMES
    OF REPORTING PERSONS</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">Christopher
    B. Woodruff</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>2</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CHECK THE APPROPRIATE BOX IF A
    MEMBER OF A GROUP*</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding: 3pt"><P STYLE="margin: 0 0 0 17.3pt; text-align: justify">(a) [ &nbsp;]</P>
    <P STYLE="margin: 0 0 0 17.3pt; text-align: justify">(b) [&nbsp; ]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>3</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SEC USE ONLY</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>4</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SOURCE OF FUNDS (See Instructions)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">AF</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>5</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS
    IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: right">&nbsp;[&nbsp;&nbsp;
    ]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>6</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CITIZENSHIP OR PLACE OF ORGANIZATION</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">United
    States of America</TD></TR>
  </TABLE>
<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="8" STYLE="vertical-align: middle; border-top: black 1pt solid; border-left: black 1pt solid; width: 30%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: center">NUMBER
    OF<BR>
    SHARES<BR>
    BENEFICIALLY<BR>
    OWNED BY<BR>
    EACH<BR>
    REPORTING<BR>
    PERSON<BR>
    WITH</TD>
    <TD ROWSPAN="2" STYLE="border: Black 1pt solid; vertical-align: top; width: 5%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>7</B></TD>
    <TD STYLE="border-top: black 1pt solid; vertical-align: top; width: 60%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SOLE
    VOTING POWER</TD>
    <TD STYLE="border-top: black 1pt solid; border-right: black 1pt solid; width: 5%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">0</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>8</B></TD>
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SHARED VOTING POWER</TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">1,446,356
    shares(1)(2)</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>9</B></TD>
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">0</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">&nbsp;</TD></TR>
  <TR>
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>10</B></TD>
    <TD STYLE="vertical-align: top; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">1,446,356 shares(1)(2)</TD>
    <TD STYLE="border-right: black 1pt solid; padding: 3pt 3pt 1pt; text-align: justify">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border: Black 1pt solid; width: 5%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>11</B></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: black 1pt solid; width: 95%; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">AGGREGATE
    AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">1,446,356
    shares(1)(2)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>12</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">CHECK BOX IF THE AGGREGATE AMOUNT
    IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: right">[&nbsp;&nbsp;
    ]</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>13</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">PERCENT OF CLASS REPRESENTED BY
    AMOUNT IN ROW (11)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">4.9%
    (1)(3)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify"><B>14</B></TD>
    <TD STYLE="border-right: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt">TYPE OF REPORTING PERSON (See
    Instructions)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 3pt; padding-right: 3pt; padding-left: 3pt; text-align: justify">IN</TD></TR>
  </TABLE>
<P STYLE="margin: 0 0 0pt"></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(1)</TD><TD STYLE="text-align: justify">As
                                            described in Item 2 of the Original Schedule 13D, Mr. Woodruff is deemed to have shared voting
                                            and dispositive power over the shares of the Company held by Chain of Lakes Investment Fund,
                                            LLC (&quot;COLIF&quot;) as a result of his position as President of COLIF. &nbsp;Reference
                                            is made to Item 2 to the Original Schedule 13D. Mr. Woodruff disclaims beneficial ownership
                                            of the Common Shares owned by COLIF.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(2)</TD><TD STYLE="text-align: justify"><FONT STYLE="background-color: white">Consists
                                            of 1,369,008 shares of common stock, par value $0.01 per share, and 77,348 shares of common
                                            stock, par &nbsp;&nbsp;&nbsp;&nbsp;value $0.01 per share, issuable upon exercise of exercisable
                                            warrants (as defined in Item 5 below).</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">(3)</TD><TD STYLE="text-align: justify">Percentage
                                            calculated based on 29,358,757 shares of common stock, par value $0.01 per share, outstanding
                                            as of October 22, 2023, as reported in the Form 10-Q for the quarterly period ended September
                                            24, 2023, of Potbelly Corporation.</TD>
</TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt"></P>


<P STYLE="margin: 0; text-align: center"></P>

<P STYLE="margin: 0; text-align: center"><B>SCHEDULE 13D</B></P>

<P STYLE="margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="margin: 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="margin: 0; text-align: center">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">This Amendment No. 1 to Schedule 13D (this &ldquo;Amendment
No. 1&rdquo;) amends and supplements, as set forth below, the information contained in Items 3, 5, 6 and 7 of the Schedule 13D filed
with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on March 19, 2020 (the &ldquo;Original Schedule 13D&rdquo;) by Chain
of Lakes Investment Fund, LLC, a Delaware limited liability company (&ldquo;COLIF&rdquo;) and Christopher B. Woodruff (each a &ldquo;Reporting
Person&rdquo;), with respect to shares of common stock, $0.01 par value per share (the &ldquo;Common Stock&rdquo;), of Potbelly Corporation,
a Delaware corporation (the &ldquo;Issuer&rdquo;). Except as specifically provided herein, this Amendment No. 1 does not modify any of
the information previously reported in the Original Schedule 13D. Capitalized terms used but not defined in this Amendment No. 1 shall
have the same meanings ascribed to them in the Original Schedule 13D.</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-weight: bold; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 40pt">Item 3.</TD><TD>Source and Amount of Funds or Other Considerations</TD></TR></TABLE>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">All of the shares of Common Stock to which this Statement
relates were purchased on behalf of the Reporting Persons using the investment capital of the Reporting Persons. The aggregate purchase
price of the 1,369,008 shares of Common Stock acquired was approximately $6,459,722 (including brokerage commissions and transaction
costs).</P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-weight: bold; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 40pt">Item 5.</TD><TD>Interest in Securities of the Issuer</TD></TR></TABLE>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>(a) - (b)</TD>
    <TD>As of the date hereof, COLIF beneficially owns the Common Shares noted on COLIF&rsquo;s cover page hereto, which includes 77,348
    shares of common stock that COLIF has the right to acquire through the exercise of a warrant (the &ldquo;Warrant&rdquo;). &nbsp;The
    Warrant provides for an exercise price of $5.45 per share of Common Stock, and is initially exercisable commencing August 13, 2021
    through its expiration date of August 12, 2026.&nbsp;&nbsp;Mr. Woodruff disclaims beneficial ownership of the Common Shares owned
    by COLIF.</TD></TR>
  <TR>
    <TD STYLE="width: 40pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>(c)</TD>
    <TD>Except as set forth in the Schedule of Transactions by the Reporting Persons which is attached as Exhibit 1 and incorporated
    by reference hereto, none of the Reporting Persons has effected any transaction in the Common Stock during the last 60 days.</TD></TR>
  <TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>(e)</TD>
    <TD>The Reporting Persons ceased to be the beneficial owners of more than 5% of the Common Stock of the Issuer as of December 1,
    2023.</TD></TR>
  </TABLE>
<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-weight: bold; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 40pt">Item 6.</TD><TD>Contracts, Arrangements, Understandings or Relationships with Respect
                                            to Securities of the Issuer.</TD></TR></TABLE>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0; text-align: justify">Except for the joint filing agreement between and
among the Reporting Persons attached as Exhibit 2 and the Warrant, a form of which is attached as Exhibit 3, and other than as described
in the Original Schedule 13D and this Amendment No. 1, to the knowledge of the Reporting Persons, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the Reporting Persons or between the Reporting Persons and any other persons
with respect to any securities of the Issuer.</P>

<P STYLE="margin: 0; font-weight: bold; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-weight: bold; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0%"></TD><TD STYLE="width: 40pt">Item 7.</TD><TD>Material to Be Filed as Exhibits</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-left: 40pt; margin-top: 0pt; margin-bottom: 0pt">The following documents are
filed as exhibits:</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>


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<P STYLE="margin: 0"></P>

<P STYLE="margin: 0; text-indent: 0.5in"></P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center; width: 9%"><B>Exhibit<BR>
    Number&nbsp;</B></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; width: 90%; vertical-align: bottom"><B>Description</B></TD></TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="text-align: center"><A HREF="fp0086178-1_ex991.htm" STYLE="-sec-extract: exhibit">1</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="fp0086178-1_ex991.htm" STYLE="-sec-extract: exhibit">Schedule of Transactions
    by the Reporting Persons</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><A HREF="fp0086178-1_ex992.htm" STYLE="-sec-extract: exhibit">2</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="fp0086178-1_ex992.htm" STYLE="-sec-extract: exhibit">Joint Filing Agreement</A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="text-align: center"><A HREF="https://www.sec.gov/Archives/edgar/data/1195734/000119312521035489/d132427dex102.htm" STYLE="-sec-extract: exhibit">3</A></TD>
    <TD>&nbsp;</TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1195734/000119312521035489/d132427dex102.htm" STYLE="-sec-extract: exhibit">Form
    of Common Stock Purchase Warrant (incorporated by reference to Exhibit 10.2 to the Issuer&rsquo;s Form 8-K filed with the Securities
    and Exchange Commission on February 10, 2021)</A></TD></TR>
  </TABLE>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt"></P>


<P STYLE="margin: 0; text-align: justify"></P>


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<P STYLE="margin: 0; text-align: justify"><B>Signature</B></P>

<P STYLE="margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="margin: 0">After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">Dated: December 5, 2023</P>

<P STYLE="margin: 0"></P>

<P STYLE="margin: 0"><B>&nbsp;</B></P>

<P STYLE="margin: 0"><B>CHAIN OF LAKES INVESTMENT FUND, LLC</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 35%">/s/ Christopher B. Woodruff</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Name:</TD>
    <TD>Christopher B. Woodruff</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD>President</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; width: 40%">/s/ Christopher B. Woodruff&nbsp;&nbsp;</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>Christopher B. Woodruff</TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>

<P STYLE="margin: 0"></P>


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<P STYLE="margin: 0"><B>&nbsp;</B></P>

</BODY>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>fp0086178-1_ex991.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit 1</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Schedule of Transactions by the Reporting Persons</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The following table sets forth all transactions with
respect to the Common Stock effected in the last 60 days by or on behalf of the Reporting Persons, inclusive of any transactions effected
through 4:00 p.m., Eastern time, on December 1, 2023. Unless otherwise indicated, all such transactions were effected in the open market.
The Price Per Share is a weighted average price.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Chain of Lakes Investment Fund, LLC</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="2" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 21%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transaction Date</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 25%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Shares Sold</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 25%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Price Per Share</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; width: 29%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Aggregate Sales</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Price</P></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">11/03/2023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">43,671</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$10.22</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$446,384.93</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">11/06/2023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$10.25</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$102,497.73</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">11/14/2023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">11,943</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$9.87</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$117,833.02</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">11/15/2023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,370</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$10.06</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$104,319.86</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: Gainsboro">
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">12/01/2023</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">22,065</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$9.34</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">$206,009.36</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>fp0086178-1_ex992.htm
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit 2</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Joint Filing Agreement</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0">The undersigned hereby agree that a single Schedule 13D (or any amendment
thereto) relating to the Common Stock of Potbelly Corporation shall be filed on behalf of each of the undersigned and that this Agreement
shall be filed as an exhibit to such Schedule 13D.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Dated: December 5, 2023</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>CHAIN OF LAKES INVESTMENT FUND, LLC</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">/s/ Christopher B. Woodruff</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Name:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Christopher B. Woodruff</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">President</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; width: 40%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">/s/ Christopher B. Woodruff&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Christopher B. Woodruff</FONT></TD>
    <TD>&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>


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