Company: PAMT
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001437749-25-011728
Chunk: 40

Company: PAMT CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 40
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, through our various subsidiaries we transact business with these affiliates in the ordinary course of business.

During 2024, Moroun-affiliated companies paid us a total of $11,788,905. These payments represent insurance claims payments of $380,875, freight transportation charges of $9,434,729, equipment leases payments of $350,019, reimbursement for Mexico operational expenses provided by a shared third-party service provider of $1,425,117, real estate rent and upkeep of $191,635, and payments for the purchase of used company vehicles of $6,530.

During 2024, we made payments to certain Moroun-affiliated companies in the aggregate amount of $33,424,726. These payments are described below.

We made payments of $3,477,583 for purchases of trailing equipment and $9,555,046 for equipment parts and maintenance services to Moroun-affiliated companies during 2024.

Payments of $1,349,261 were made for real estate leases during 2024 which include maintenance facilities in one state and trailer drop yards in multiple states. The leases are generally month-to-month leases with automatic monthly renewal provisions.

Payments of $98,131 were made for bulk fuel purchases during 2024. Payments in the amount of $706,690 were made for management and payroll services and software during 2024.

We made payments to a Moroun-affiliated insurance company during 2024 in the amount of $2,412,326 for insurance premiums paid pursuant to agreements to provide insurance coverage to certain of our independent contractors. These agreements include physical damage insurance coverage which is purchased through an unaffiliated insurance broker, but written by a subsidiary of a Moroun-affiliated insurance company. The underlying agreements are made directly with the independent contractors. The full amount of these payments are recouped by us from the independent contractors. During 2024, we received $380,875 in payments for claims filed. We secure coverage for commercial auto and general liability insurance through a Moroun-affiliated company. We also purchase workers compensation insurance coverage written by a subsidiary of a Moroun-affiliated insurance company. In 2024, we made premium payments of $15,825,688 for commercial auto liability, general liability and workers’ compensation coverage under these policies.

During 2023, Moroun-affiliated companies paid us a total of $8,120,949. These payments represent insurance claims payments of $885,108, freight transportation charges of $5,884,