Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 391

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 3
Chunk 391
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 Plan.
    
   The grant date fair value of stock and stock options vested during 2024, 2023 and 2022 was approximately $928,000, $576,000 and $392,000, respectively. Total pre-tax stock-based compensation expense, recognized in salaries, wages and benefits was approximately $723,000 during 2024 and includes approximately $37,000 recognized as a result of the grant of a total of 2,130 shares of stock to four non-employee directors during the second quarter of 2024. The Company recognized a total income tax benefit of approximately $170,000 related to stock-based compensation expense during 2024. 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 2024. As of  December 31, 2024, the Company had stock-based compensation plans with total unvested stock-based compensation expense of approximately $1,315,000 which is being amortized over the remaining vesting period. As a result, the Company expects to recognize the 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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   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