Exhibit 4 PANERA BREAD COMPANY Stock Price History Panera Stock Price 70 60 50 Women 40 10 0 6/1/2006 7/1/2006 8/1/2006 9/1/2006 10/1/2006 11/1/2006 12/1/2006 1/1/2007 2/1/2007 3/1/2007 4/1/2007 5/1/2007 6/1/2007 7/1/2007 8/1/2007 9/1/2007 10/1/2007 11/1/2007 Data source: Datastream. Exhibit 4 PANERA BREAD COMPANY Stock Price History Panera Stock Price 70 60 50 Women 40 10 0 6/1/2006 7/1/2006 8/1/2006 9/1/2006 10/1/2006 11/1/2006 12/1/2006 1/1/2007 2/1/2007 3/1/2007 4/1/2007 5/1/2007 6/1/2007 7/1/2007 8/1/2007 9/1/2007 10/1/2007 11/1/2007 Data source: Datastream