Thanawala Ravi 4

What Happened
Ravi Thanawala, CFO & President, North America of Papa John's International (PZZA), disposed of 1,816 shares on 2026-03-25 to satisfy a tax obligation related to an equity award or option exercise. The shares were reported at $33.12 each, for a total value of $60,146. This disposition is coded as "F" (payment of exercise price or tax liability), which typically reflects withholding of shares to cover taxes rather than an open-market sale.

Key Details

• Transaction date: 2026-03-25; filing date: 2026-03-26 (timely Form 4 filing).
• Disposition: 1,816 shares at $33.12 per share; total value shown $60,146.
• Transaction code: F — payment of exercise price or tax liability (shares withheld to cover taxes).
• Shares owned after transaction: not specified in the information provided in this summary.
• No indication in the filing that this was part of a 10b5-1 plan; the code and description point to tax withholding from an equity event.

Context
Tax-withholding dispositions are common after option exercises or vesting of restricted stock and do not necessarily signal an insider's view on the company's stock. This action reduced the insider's share count by the withheld amount but is generally considered routine administrative behavior rather than a directional bet on the stock.