David T. Pearson's Disposal of Potbelly Corp Common Stock

On October 23, 2025, David T. Pearson, a director of Potbelly Corp, disposed of 49,386 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. The merger resulted in the automatic cancellation and conversion of each share of common stock into the right to receive $17.12 per share in cash. Additionally, unvested restricted stock units (RSUs) were either converted into cash or substituted into contingent cash awards, depending on their vesting status at the time of the merger. The transaction was reported in a Form 4 filing with the SEC.