Adrian M. Butler's Disposition of Potbelly Corp Common Stock

On October 23, 2025, Adrian M. Butler, a director of Potbelly Corp, disposed of 89,529 shares of common stock at a price of $17.12 per share. This transaction was part of the merger agreement between Potbelly Corp, RaceTrac, Inc., and Hero Sub Inc., where each share of common stock was converted into the right to receive $17.12 per share in cash. The merger resulted in Potbelly Corp becoming a wholly owned subsidiary of RaceTrac, Inc. Additionally, unvested restricted stock units (RSUs) held by Butler were either converted into cash or substituted into contingent cash awards, depending on their vesting status at the time of the merger.