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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
724606	Panera Bread Co	PNRA	Retail-Eating Places (5812)	042723701

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1244907	Mark Borland	3630 South Geyer Road Suite 100 St. Louis MO 63127	Svp,Chief Supply Chain Officer	No	Yes	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Disposition	2012-08-03	413	$155.97	7,182	No	4	F	Direct
Class A Common Stock	Disposition	2012-08-06	855	$155.21	6,327	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	F	Direct
No	4	S	Direct

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Stock Appreciation Right	Acquisiton	2012-08-03	1,224	$0.00	1,224	$55.20

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
3,672		2015-08-03	No	4	A	Direct

Footnotes

The sale reported on this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 16, 2012.
Represents grant of a stock settled appreciation right ("SSAR") that the Reporting Person elected to receive under a Choice Award pursuant to the LTIP. The SSAR vests as to 25% of the original number of shares on the second anniversary of the date of grant and as to an additional 25% of the original number of shares on each successive anniversary following the second anniversary of the grant date until the fifth anniversary of the grant date.