Company: PAMT
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001437749-25-033356
Chunk: 13

Company: PAMT CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 13
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 both diluted and basic earnings per common share by approximately $0.01 during the first nine months of 2025. As of  September 30, 2025, the Company had stock-based compensation plans with total unvested stock-based compensation expense of approximately $2,178,000, which is being amortized on a straight-line basis over the remaining vesting period. As a result, the Company expects to recognize approximately $228,000 in additional compensation expense related to unvested stock awards during the remainder of 2025 and to recognize approximately $644,000, $545,000, and $537,000 in additional compensation expense related to unvested stock-based awards during the years 2026, 2027, and 2028, respectively.

       9

   The total grant date fair value of stock vested during the first nine months of 2024 was approximately $928,000. The total pre-tax stock-based compensation expense, recognized in salaries, wages and benefits during the first nine months of 2024, was approximately $550,000 and included approximately $38,000 recognized as a result of the issuance of shares to certain non-employee directors. The recognition of stock-based compensation expense decreased both diluted and basic earnings per common share by approximately $0.02 during the first nine months of 2024. As of  September 30, 2024, the Company had stock-based compensation plans with total unvested stock-based compensation expense of approximately $1,536,000, which was being amortized on a straight-line basis over the remaining vesting period.
    
   A summary of the status of the Company’s non-vested stock awards as of  September 30, 2025, and changes during the nine months ended  September 30, 2025, is as follows:

       Stock Awards  
   Number of Shares    Weighted- Average Grant Date Fair Value  
 Non-vested at January 1, 2025   128,591  $13.79 
 Unrestricted Shares Issued   2,862   15.71 
Restricted Stock Units Issued  200,000   14.13 
 Canceled/forfeited/expired   (141,329)  11.90 
 Vested   (15,862)  27.52 
 Non-vested at September 30, 2025   174,262  $14