Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 456

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 6
Chunk 456
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 following approximate amounts of additional compensation expense related to unvested restricted stock awards during each of the years indicated:

    2025 $717,000 
2026 $465,000 
2027 $133,000 
2028  - 
2029  - 

   Total pre-tax stock-based compensation expense, recognized in salaries, wages and benefits was approximately $553,000 during 2023 and includes approximately $55,000 recognized as a result of the grant of a total of 2,295 shares of stock to four non-employee directors during the second quarter of 2023. The Company recognized a total income tax benefit of approximately $197,000 related to stock-based compensation expense during 2023. The recognition of stock-based compensation expense decreased diluted earnings per common share by $0.02 and basic earnings per common share by approximately $0.02 during 2023.

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       52 -

   Total pre-tax stock-based compensation expense, recognized in salaries, wages and benefits was approximately $715,000 during 2022 and includes approximately $55,000 recognized as a result of the grant of 1,855 shares of stock to four non-employee directors during the second quarter of 2022. The Company recognized a total income tax benefit of approximately $170,000 related to stock-based compensation expense during 2022. The recognition of stock-based compensation expense decreased diluted earnings per common share by $0.03 and basic earnings per common share by approximately $0.02 during 2022.
    
   There were no options granted during 2024, 2023, or 2022.
    
   A summary of the status of the Company’s non-vested restricted stock as of  December 31, 2024 and changes during the year ended  December 31, 2024, is presented below:

       Restricted Stock  
   Number of Shares    Weighted- Average Grant  Date Fair Value  
 Nonvested—January 1, 2024   198,859  $14.07 
 Granted   2,130   17.60 
 Canceled/forfeited/expired   (4,383)  30.65 
 Vested   (68,015)  13.64 
 Nonvested—December 31, 2024:   128,591  $13.79 

    14.  EARN