Company: PAMT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001437749-25-015763
Chunk: 56

Company: PAMT CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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ized gains  $18,717  $17,215 
 Gross unrealized losses   1,875   1,689 
 Net unrealized gain  $16,842  $15,526 

   The following table shows the Company’s net realized gains during the three months ending on  March 31, 2025 and 2024, respectively, on certain marketable equity securities.

       Three Months Ended  
   March 31, 2025    December 31, 2024  
   (in thousands)  
 Sales Proceeds  $1  $- 
 Gross unrealized losses   4   - 
 Net unrealized gain  $(3) $- 

   For the quarter ended  March 31, 2025, the Company recognized dividends received of approximately $443,000 in non-operating income in its condensed consolidated statements of operations. For the quarter ended  March 31, 2024, the Company recognized dividends received of approximately $349,000 in non-operating income in its condensed consolidated statements of operations.
    
   The Company’s equity securities are periodically used as collateral against any outstanding margin account borrowings. As of  March 31, 2025, the Company had no outstanding borrowings under its margin account, which is no change from  December 31, 2024, when the Company had no outstanding borrowings under the same account. Margin account borrowings, when utilized, are used for the purchase of marketable equity securities and as a source of short-term liquidity and are included in accrued expenses and other liabilities on our condensed consolidated balance sheets.
    
   Our marketable equity securities portfolio had a net unrealized pre-tax gain in market value of approximately $1,316,000 during the first quarter of 2025, and a net unrealized pre-tax gain in market value of approximately $2,586,000 during the first quarter of 2024, which were reported as non-operating income in its condensed consolidated statements of operations for the respective periods.

   NOTE E: STOCK-BASED COMPENSATION
   The Company maintains a stock incentive plan under which incentive and nonqualified stock options and other stock awards  may be granted. On  February 15, 2024, the Company’s Board of Directors adopted, and on  October 31, 2024, our shareholders approved, the 2024 Equity Incentive Plan, as amended