Employee Benefit Plans

12 Months Ended

Dec. 29, 2024

Retirement Benefits [Abstract]

Employee Benefit Plans

21. Employee Benefit Plans

The Papa John’s International, Inc. 401(k) Plan (the “401(k) Plan”), is a defined contribution benefit plan in accordance with Section 401(k) of the Internal Revenue Code. The 401(k) Plan is open to employees who meet certain eligibility

requirements and allows participating employees to defer receipt of a portion of their compensation and contribute such amount to one or more investment funds.

In addition, we maintain a non-qualified deferred compensation plan available to certain employees and directors. Under this plan, the participants may defer a certain amount of their compensation, which is credited to the participants’ accounts. The participant-directed investments associated with this plan are included in Other assets ($30.8 million and $29.4 million at December 29, 2024 and December 31, 2023, respectively) and the associated liabilities ($28.2 million and $28.3 million at December 29, 2024 and December 31, 2023) are included in Other long-term liabilities in the accompanying Consolidated Balance Sheets.

We contributed a matching payment of 4% of a participating employee’s earnings deferred into the 401(k) Plan in 2024, 2023 and 2022. Such costs were $4.8 million in 2024, $4.3 million in 2023 and $4.4 million in 2022.