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Related Party Transactions
12 Months Ended
Dec. 28, 2014
Related Party Transactions  
Related Party Transactions

 

16.  Related Party Transactions

 

Certain of our officers and directors own equity interests in entities that franchise restaurants. Following is a summary of full-year transactions and year-end balances with franchisees owned by related parties and PJMF (in thousands):

 

 

 

2014

 

2013

 

2012

 

Revenues from affiliates:

 

 

 

 

 

 

 

Commissary sales

 

$

2,679 

 

$

2,426 

 

$

23,145 

 

Other sales

 

482 

 

482 

 

2,394 

 

Franchise royalties

 

385 

 

351 

 

3,771 

 

Total

 

$

3,546 

 

$

3,259 

 

$

29,310 

 

 

 

 

 

 

 

 

 

Accounts receivable - affiliates

 

$

114 

 

$

284 

 

$

1,062 

 

 

 

 

 

 

 

 

 

Accounts payable - affiliates

 

$

249 

 

$

 

$

 

 

The revenues from affiliates were at rates and terms available to independent franchisees. Additionally, the table excludes transactions and balances in 2013 for a former non-management director.

 

We paid $770,000 in 2014, $1.1 million in 2013 and $1.1 million in 2012 for charter aircraft services provided by an entity owned by our Founder, Chairman, President and Chief Executive Officer.

 

On November 12, 2013, we repurchased $38.6 million of our common stock (1.0 million shares at the closing price of $38.61 per share) from our Founder, Chairman, President and Chief Executive Officer.

 

We had the following transactions with PJMF:

 

·

PJMF reimbursed Papa John’s $634,000, $2.2 million and $3.0 million in 2014, 2013, and 2012, respectively, for certain costs associated with national pizza giveaways awarded to our online loyalty program customers.

·

PJMF reimbursed Papa John’s $1.2 million, $782,000, and $917,000 in 2014, 2013, and 2012, respectively, for certain administrative services (i.e., marketing, accounting, and information services), graphic design services, services and expenses of our founder as brand spokesman, and for software maintenance fees.