Tag: Steve Ritchie

Executive Pay

Papa John’s COO Ritchie nets $625K in share trade

Steve Ritchie made the trade Aug. 12 with options he exercised that day at a so-called strike price of $26 a share, according to a just-filed Securities and Exchange Commission document. That means he netted about $625,000 after selling the 12,836 shares at prices ranging from $74.37 to $75.08.

John Ritchie
Ritchie

The options vest in three equal annual installments beginning one year from the grant date of Feb. 28, 2013. The company’s PZZA shares closed today at $75, up 35 cents.

Just last week, Ritchie told the SEC he’d sold 988 shares for about $75,000; there were no options involved in that trade.

Ritchie has been the pizza chain’s president and chief operating officer since July 2015. He started at the company as a customer service representative making $5 an hour in 1996.

Executive Pay

As stock hits record high, Schnatter leads four top execs selling thousands of Papa John’s shares

Papa John's exec trades August 2016

Lance Tucker
Tucker

Founder and CEO John Schnatter and the three other senior officers sold the shares over the past week for prices between around $76 and $77 a share, according to new Securities and Exchange Commission documents.

The trades came just as Papa John’s hit a record high of $78.09, pushing the value of Schnatter’s 10.5 million shares above $800 million for the first time.

PZZA closed this afternoon at for $75.15, up 65 cents.

John Ritchie
Ritchie

So-called insider stock sales are an important barometer of where top executives at companies think share prices are headed. But they’re an imperfect measure. Sometimes, executives sell through what’s called SEC Rule 10b5-1 plans. They allow major holders to sell a predetermined number of shares at a predetermined time, a plan often approved in advance by the board of directors to avoid insider-trading accusations.

The Papa John’s filings don’t disclose any reason for the sales, however.