Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 502

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 7A
Chunk 502
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 incentive plan under which incentive and nonqualified 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 (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 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 award is granted.  As of  December 31, 2024, the company did not grant any shares of its common stock under the 2024 Plan.
    Prior to the 2024 Plan, the Company maintained a stock incentive plan (the “Plan”) under which incentive and nonqualified stock options and other stock awards could be granted. On  March 13, 2014, the Company’s Board of Directors adopted, and on  May 29, 2014, our shareholders approved, the 2014 Amended and Restated Stock Option and Incentive Plan (the “Plan”) which amended and restated the Company’s 2006 Stock Option Plan. Under the Plan, 3,000,000 shares (as adjusted for the Company’s 2-for-1 forward split of its common stock paid in  August 2021 and the Company’s 2-for-1 forward split of its common stock paid in  March 2022) 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 was not to be less than 85% of the fair market value of the Company’s common stock on the date the award is granted. The fair market value was determined by the closing price of the Company’s common stock, on its primary exchange, on the same date that the option or award was granted. This Plan expired on  March 13, 2024, and no further grants  may be made under the Plan. All outstanding unvested awards granted under the Plan, however