News

Papa John's founder sells $6M in stock

May 15, 2019

An SEC filing this week indicated that Papa John's Founder John Schnatter sold nearly 115,000 shares of common stock in the company, worth more than $6 million, although he retained more than 9 million shares, according to Louisville Business First.

Last week, another SEC filing showed the pizza entrepreneur was planning to sell his ownership in the Louisville-based brand. The sale price of the shares he sold this week was $52.69.

Schnatter, who had been on the brand's board, agreed to leave that post if he could work with the company to name a new director. This week's filing stated that the process has started.

Papa John's refused to comment.