Company: PAMT
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001437749-25-011728
Chunk: 30

Company: PAMT CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 30
---
234 shares vested on February 9, 2025. The remaining shares will vest in equal installments of 3,235 each on February 9, 2026 and 2027.    |
| (5) | 649 shares vested on February 9, 2025. The remaining shares will vest on February 9, 2026.                                                   |
| (6) | 605 shares vested on February 9, 2025. The remaining shares will vest in equal installments of 605 shares each on February 9, 2026 and 2027. |

Options Exercised and Stock Vested

The following table contains information about stock options exercised and restricted stock awards vested by each of our named executive officers during 2024.

|                     |     | Option Awards        |   |     |                   |   |     | Stock Awards        |        |     |                   |         |
| Name                |     | Number of shares     
 acquired on exercise |   |     | Value realized on 
 exercise ($)      |   |     | Number of shares    
 acquired on vesting |        |     | Value realized on 
 vesting ($)       |         |
| Joseph A. Vitiritto |     |                      | - |     |                   | - |     |                     | 25,407 |     |                   | 441,885 |
| Lance K. Stewart    |     |                      | - |     |                   | - |     |                     | 16,015 |     |                   | 285,667 |

<div align='center'>- 22 -</div>

Payments Upon Termination or Change In Control

Generally, employment agreements that we enter into with any of our executive officers provide for payments that may be made to the executive officers following termination of their employment. The potential payments under our employment agreements with our executive officers and other payments to which our executive officers are entitled upon termination are discussed below and quantified in the tables that follow. We do not have any agreements or plans that provide for payments to any of our executive officers based on the occurrence of a change in control of the Company.

No Payments If There Is a Termination for Just Cause

In the event that one of our executive officers is terminated for just cause, including conviction of a crime, moral turpitude, gross negligence in the performance of duties, intentional failure to perform duties, insubordination, or dishonesty, we would have no obligation to pay base salary or benefits beyond the last day worked.