UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 21, 2007
Commission File Number: 0-21660
PAPA JOHN’S INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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61-1203323 |
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(State or other jurisdiction of |
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(I.R.S. Employer Identification |
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incorporation or organization) |
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Number) |
2002 Papa Johns Boulevard
Louisville, Kentucky 40299-2334
(Address of principal executive offices)
(502) 261-7272
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Section 5—Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) Effective February 21, 2007, the Compensation Committee (the “Committee”) of the Board of Directors of Papa John’s International, Inc. (the “Company”) approved payments pursuant to the Company’s short-term incentive compensation program to certain named executive officers and certain other officers of the Company, upon certification by the Committee that the performance goals as established under the program for 2006 had been met. The Committee has approved the following payments to the Company’s named executive officers:
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Name and Principal Position |
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2006 Payment |
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John H. Schnatter |
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Executive Chairman |
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$ |
305,390 |
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Nigel Travis |
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Chief Executive Officer and President |
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$ |
552,216 |
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J. David Flanery |
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Senior Vice President and Chief Financial Officer |
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$ |
156,256 |
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William M. Van Epps |
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President, USA |
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$ |
274,519 |
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Charles W. Schnatter |
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Senior Vice President and Chief Development Officer |
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$ |
138,222 |
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Also effective February 21, 2007, the Committee approved that the performance metrics for the Company’s 2007 short-term incentive compensation program would remain as the same performance metrics for 2006. A summary of the Company’s short-term incentive compensation program is attached hereto as Exhibit 10.1 and incorporated by reference herein.
Section 9 — Financial Statements and Exhibits
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(d) Exhibits |
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Exhibit |
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Number |
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Description |
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10.1 |
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Summary of Short-Term Incentive Compensation Program. |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
PAPA JOHN’S INTERNATIONAL, INC.
(Registrant)
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Date: February 27, 2007 |
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/s/ J. David Flanery |
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J. David Flanery |
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Senior Vice President and |
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Chief Financial Officer |