<SEC-DOCUMENT>0001838731-25-000004.txt : 20251027
<SEC-HEADER>0001838731-25-000004.hdr.sgml : 20251027
<ACCEPTANCE-DATETIME>20251027210031
ACCESSION NUMBER:		0001838731-25-000004
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251023
FILED AS OF DATE:		20251027
DATE AS OF CHANGE:		20251027

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dixon Adiya
		CENTRAL INDEX KEY:			0001838731
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36104
		FILM NUMBER:		251421113

	MAIL ADDRESS:	
		STREET 1:		111 N CANAL
		STREET 2:		SUITE 850
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			POTBELLY CORP
		CENTRAL INDEX KEY:			0001195734
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				364466837
		FISCAL YEAR END:			1228

	BUSINESS ADDRESS:	
		STREET 1:		680 NORTH LAKE SHORE DR.
		STREET 2:		SUITE 110 #100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
		BUSINESS PHONE:		3129510600

	MAIL ADDRESS:	
		STREET 1:		680 NORTH LAKE SHORE DR.
		STREET 2:		SUITE 110 #100
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60611
</SEC-HEADER>
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<SEQUENCE>1
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    <footnotes>
        <footnote id="F1">Pursuant to the Agreement and Plan of Merger, dated as of September 9, 2025 (the 'Merger Agreement'), by and among the Issuer, RaceTrac, Inc. ('Parent'), and Hero Sub Inc. ('Merger Sub'), Merger Sub merged with and into the Issuer (the 'Merger'), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent. At the effective time of the Merger (the 'Effective Time'), upon the terms and subject to the conditions set forth in the Merger Agreement, each share of common stock, par value $0.01 per share ('Common Stock'), of the Issuer that was issued and outstanding as of immediately prior to the Effective Time was automatically cancelled, extinguished and converted into the right to receive $17.12 per share in cash, without interest thereon (but subject to applicable withholding) (the 'Per Share Price').</footnote>
        <footnote id="F2">Includes 33,149 unvested restricted stock units (&quot;RSUs&quot;). Pursuant to the terms of the Merger Agreement, at the Effective Time, (A) each RSU that is outstanding and vested (but not yet settled) as of immediately prior to the Effective Time, taking into account any acceleration of vesting of any RSU that occurs upon the Effective Time (each, a &quot;Vested RSU&quot;), was automatically cancelled and converted into the right to receive an amount in cash, without interest thereon (but subject to applicable withholding), equal to the product obtained by multiplying (i) the Per Share Price by (ii) the total number of shares of Common Stock subject to such RSU and (B) each outstanding RSU that was not a Vested RSU (each, an &quot;Unvested RSU&quot;) was automatically cancelled and substituted into the contingent right to receive an aggregate amount (without interest) in cash (a &quot;Substituted RSU Cash Award&quot;) equal to the product obtained by multiplying (i) the Per Share Price by (ii) the total number of shares</footnote>
        <footnote id="F3">(continued from footnote 2) of Common Stock subject to such RSU. Each such Substituted RSU Cash Award will continue to have, and will be subject to, the same vesting terms and conditions as applied to the corresponding Unvested RSU immediately prior to the Effective Time, except that each such Substituted RSU Cash Award will be afforded &quot;double-trigger&quot; accelerated vesting upon the applicable holder's termination without cause or resignation for good reason, in each case, that occurs during a post-closing period.</footnote>
        <footnote id="F4">Pursuant to the terms of the Merger Agreement, at the Effective Time, each performance-based restricted stock unit (&quot;PSU&quot;) that was outstanding and unvested as of immediately prior to the Effective Time, was automatically cancelled and substituted into and became the contingent right to receive an amount in cash, without interest thereon (but subject to applicable withholding) (a &quot;Substituted PSU Cash Award&quot;), equal to the product obtained by multiplying (i) the Per Share Price by (ii) the total number of shares of Common Stock subject to such PSU, with the achievement of the performance-based vesting metrics applicable to each PSU based on the greater of target or actual achievement of the applicable performance metrics. Each such Substituted PSU Cash Award will be payable on the last day of the performance period that applied to the corresponding PSUs immediately prior to the Effective Time (such date, the &quot;Vesting Date&quot;), subject to the applicable holder's continued employment or</footnote>
        <footnote id="F5">(continued from footnote 4) service through the Vesting Date, except that each such Substituted PSU Cash Award will be afforded &quot;double-trigger&quot; accelerated vesting upon such applicable holder's termination without cause or resignation for good reason, in each case, that occurs during a post-closing period.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Adiya Dixon</signatureName>
        <signatureDate>2025-10-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
