Company: PAMT
Filing Date: 2025-08-04
Form Type: 8-K
Source: 0001683168-25-005643
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Company: PAMT CORP
Filing Date: 2025-08-04
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of  

On July 31, 2025, the Board of Directors (the
“ Board”) of PAMT CORP (the “ Company”) appointed the Company’s Chief Financial Officer, Lance K. Stewart,
to serve as President and Chief Executive Officer and a director of the Company, effective August 4, 2025. The Company’s Chairman,
Matthew T. Moroun, who has been serving as interim Chief Executive Officer of the Company since June 27, 2025, will return to his role
as Chairman of the Board. On July 31, 2025, the Board also appointed Daniel C. Kleine, Senior Vice President of Finance of P. A. M. Transport,
to serve as Senior Vice President and Treasurer of the Company, effective August 4, 2025. Mr. Kleine will serve as the Company’s
principal financial and accounting officer until a permanent Chief Financial Officer is named.

Mr. Stewart, age 56, has served as Vice President
of Finance, Chief Financial Officer and Treasurer of the Company since April 2023. Mr. Stewart served as interim Chief Financial Officer
and Treasurer in March 2023 and as Vice President of Operations of the Company’s primary operating subsidiary, P. A. M. Transport,
Inc., from 2020 to April 2023. He served as Vice President of Accounting of P. A. M. Transport from 2016 until 2020. Mr. Stewart previously
served as Vice President of Finance, Chief Financial Officer, Secretary and Treasurer of the Company from 2010 until 2013 and as Vice
President of Accounting and Controller of P. A. M. Transport from 2002 until 2010. He began his career with P. A. M. Transport in 1989 and
served in various capacities before becoming Vice President of Accounting in 2002.

Effective August 4, 2025, Mr. Stewart’s
annual base salary will increase to $505,440. In connection with his promotion, on August 4, 2025, Mr. Stewart will receive an award of
100,000 restricted stock units to vest in equal installments over the next four years, beginning February 9, 2026. Mr. Stewart will remain
eligible to participate in any annual incentive compensation plan for the Company