Adam Noyes Disposes of Potbelly Corp Shares Post-Merger

On October 23, 2025, Adam Noyes, Senior Vice President and Chief Operating Officer of Potbelly Corp, disposed of 395,024 shares of common stock at $17.12 per share, resulting in total proceeds of approximately $6.76 million. This transaction occurred following the merger of Potbelly Corp with RaceTrac, Inc., where each share of common stock was converted into the right to receive $17.12 in cash. Additionally, Noyes disposed of 74,201 Performance Stock Units (PSUs) at the same price per share. The PSUs were converted into cash awards based on the merger agreement terms, with vesting conditions remaining unchanged. This filing highlights significant changes in ownership due to the merger and the subsequent financial transactions by a key executive.