1 unchanged sentence
Share Repurchase Program
−Removed: Our Board of Directors has authorized the repurchase of up to $75.0 million of common stock under a share repurchase program that began on November 4, 2020 and is effective through December 26, 2021.
−Removed: Through September 26, 2021, a total of 219,000 shares with an aggregate cost of $23.3 million and an average price of $106.16 per share were repurchased under this program.
−Removed: Funding for the share repurchase program has been provided through our operating cash flows.
−Removed: Subsequent to September 26, 2021, we acquired an additional 158,000 shares at an aggregate cost of $19.8 million.
−Removed: Approximately $31.9 million remained available for repurchase of common stock under this authorization as of October 29, 2021.
−Removed: The following table summarizes our repurchase activity by fiscal period during the three months ended September 26, 2021 (in thousands, except per share amounts):
+Added: On October 28, 2021, our Board of Directors approved a share repurchase program with an indefinite duration for up to $425.0 million of the Company’s common stock.
+Added: Funding for the share repurchase program is provided through our operating cash flows and our $600.0 million PJI Revolving Facility.
+Added: The following table summarizes our repurchase activity by fiscal period during the first quarter ended March 27, 2022 (in thousands, except per share amounts):
Maximum Dollar
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There can be no assurance that we will repurchase shares of our common stock either through a Rule 10b5-1 trading plan or otherwise.
−Removed: Subsequent to the end of the third quarter, on October 28, 2021, our Board of Directors approved a new share repurchase program for up to $425.0 million of the Company’s common stock, with an indefinite duration.
−Removed: The new share repurchase program will initially operate alongside the Company’s existing $75.0 million share repurchase authorization, which expires on December 26, 2021.
+Added: Subsequent to March 27, 2022, we acquired an additional 223,000 shares at an aggregate cost of $23.0 million.
+Added: Approximately $369.1 million remained available under the Company’s share repurchase program as of April 29, 2022.
Repurchases of Stock for Tax Withholdings
−Removed: During the fiscal quarter ended September 26, 2021, the Company acquired approximately 11,500 shares of its common stock from employees to satisfy minimum tax withholding obligations that arose upon (i) vesting of restricted stock granted pursuant to approved plans and (ii) distribution of shares of common stock issued pursuant to deferred compensation obligations.
−Removed: Certificate of Elimination of Series B Convertible Preferred Stock of Papa John’s International, Inc., effective August 3, 2021.
−Removed: Exhibit 3.1 to our report on Form 10-Q for the fiscal quarter ended June 27,2021 is incorporated herein by reference.
−Removed: Indenture dated September 14, 2021, among Papa John’s International, Inc., each of the guarantors party thereto and Truist Bank, as trustee.
−Removed: Exhibit 4.1 to our report on Form 8-K as filed on September 14, 2021 is incorporated herein by reference .
−Removed: Form of 3.875% Senior Notes due 2029.
−Removed: Exhibit 4.2 to our report on Form 8-K as filed on September 14, 2021 is incorporated herein by reference.
−Removed: Amended and Restated Credit Agreement, dated September 14, 2021, among Papa John’s International, Inc., each of the guarantors and lenders party thereto, and JPMorgan Chase Bank, Inc., as administrative agent.
−Removed: Exhibit 10.1 to our report on Form 8-K as filed on September 14, 2021 is incorporated by reference.
−Removed: Amendment No.
−Removed: 2 to the March 15, 2019 Endorsement Agreement for personal services of Shaquille O’Neal by and among ABG-Shaq, LLC, Papa John’s Marketing Fund, Inc.
−Removed: and Papa John’s International, Inc., effective July 29, 2021.
−Removed: Exhibit 10.2 to our report on Form 10-Q for the fiscal quarter ended June 27, 2021 is incorporated herein by reference.
−Removed: Papa John’s International, Inc.
−Removed: Nonqualified Deferred Compensation Plan, as amended and restated effective October 28, 2021.
+Added: During the fiscal quarter ended March 27, 2022, the Company acquired approximately 69,000 shares of its common stock from employees to satisfy minimum tax withholding obligations that arose upon (i) vesting of restricted stock granted pursuant to approved plans and (ii) distribution of shares of common stock issued pursuant to deferred compensation obligations.
+Added: Amendment to Employment Agreement, dated April 7, 2022, by and between Papa John’s International, Inc.
+Added: and Robert Lynch.
+Added: Endorsement Agreement executed April 10, 2022, and effective March 15, 2022, by and among, on the one hand, ABG-Shaq, LLC, for the personal services of Shaquille O’Neal, and, on the other hand, Papa John’s Marketing Fund, Inc.
+Added: and Papa John’s International, Inc.
+Added: Exhibit 10.1 to our report on Form 8-K as filed on April 13, 2022 is incorporated herein by reference .
Certification of Chief Executive Officer Pursuant to Exchange Act Rule 13a-15(e), As Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
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Financial statements from the quarterly report on Form 10-Q of Papa John’s International, Inc.
−Removed: for the quarter ended September 26, 2021, filed on November 4, 2021, formatted in iXBRL:
+Added: for the quarter ended March 27, 2022, filed on May 5, 2022, formatted in iXBRL:
(i) the Condensed Consolidated Balance Sheets, (ii) the Condensed Consolidated Statements of Operations, (iii) the Condensed Consolidated Statements of Comprehensive Income, (iv) the Condensed Consolidated Statements of Stockholders’ Deficit, (v) the Condensed Consolidated Statements of Cash Flows and (vi) the Notes to Condensed Consolidated Financial Statements.
2 unchanged sentences
PAPA JOHN’S INTERNATIONAL, INC.
−Removed: November 4, 2021
Chief Financial Officer
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.