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

Company: PAMT CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 11
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 2024  
   (in thousands)  
 Sales proceeds  $3,075  $166  $3,818  $2,797 
 Cost of securities sold   1,477   90   2,510   2,905 
 Realized gain (loss)  $1,598  $76  $1,308  $(108)

   For the quarter ended  September 30, 2025, the Company recognized dividends received of approximately $316,000 in non-operating income in its condensed consolidated statements of operations. For the nine months ended  September 30, 2025, the Company recognized dividends received of approximately $1,150,000 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  September 30, 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 $1,392,000 during the third quarter of 2025, and a net unrealized pre-tax gain in market value of approximately $2,365,000 during the third 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