Company: PAMT
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025711
Chunk: 58

Company: PAMT CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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   Our marketable equity securities portfolio had a net unrealized pre-tax gain in market value of approximately $1,058,000 during the second quarter of 2025, and a net unrealized pre-tax loss in market value of approximately $1,153,000 during the second 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 non-qualified 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 (the “2024 Plan”). Under the 2024 Plan, 1,600,000 shares are reserved for the issuance of stock awards to employees, officers, directors, consultants and advisors of the Company. The stock option exercise price and the restricted stock unit purchase price under the 2024 Plan shall not be less than 100% of the fair market value of the Company’s common stock on the date the award is granted. The fair market value is determined by the closing price of the Company’s common stock, on its primary exchange, on the same date that the option or other award is granted.
    
   During  May 2025, the Company granted 2,862 shares of common stock to non-employee directors. This stock award had a grant date fair value of $15.71 per share, based on the closing price of the Company’s stock on the date of grant, and vested immediately.
    
   Prior to the 2024 Plan, the Company maintained the 2014 Amended and Restated Stock Option and Incentive Plan (the “2014 Plan”), which was adopted by the Company’s Board of Directors in  March 2014 and approved by the Company’s shareholders in  May 2014. Under the 2014 Plan, 3,000,000 shares (as adjusted for the Company’s 2-for-1 forward splits of its common stock paid in  August 2021 and  March 2022, respectively) were reserved for the issuance of stock awards to directors, officers, key employees, and others. The stock option exercise price and the restricted stock purchase price under the 2014 Plan were not to be less