Douglas Jeffrey's Disposition of Potbelly Corp Shares Post-Merger

Douglas Jeffrey, the SVP and Chief Information Officer of Potbelly Corp, disposed of a significant number of shares following the merger of Potbelly Corp with RaceTrac, Inc. The merger, effective on October 23, 2025, resulted in the conversion of each share of Potbelly Corp's common stock into $17.12 in cash. Jeffrey disposed of 179,274 shares of common stock and 41,025 Performance Stock Units (PSUs), all at the conversion price of $17.12 per share. The PSUs were converted into cash awards based on the merger agreement terms, with vesting conditions remaining unchanged. This transaction reflects the financial restructuring post-merger and the impact on executive holdings.