Company: PAMT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001437749-25-015763
Chunk: 39

Company: PAMT CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 1
Chunk 39
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 United States. This, in turn, may result in reduced demand for our transportation services, particularly our cross-border and Mexico freight business, as customers seek to mitigate increased expenses by reducing production, sourcing components from alternative locations, or modifying their supply chain strategies. This could reduce the volume of goods transported by us, thereby affecting our operational efficiency and financial performance. In addition to the direct impact on our customers, the broader economic implications of tariffs could lead to further fluctuations in cross-border or general freight volumes and affect our operations and our ability to maintain consistent service levels. Any such disruptions could necessitate adjustments in our operational strategies, increase our costs and negatively impact our revenue and profitability.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

Repurchases of Equity Securities

The Company’s stock repurchase program has been extended and expanded several times, most recently in July 2023, when the Board of Directors reauthorized 500,000 shares of common stock for repurchase under the initial September 2011 authorization. Since the reauthorization, the Company has repurchased 25,984 shares of its common stock under this repurchase program.

No shares were repurchased under the Company’s stock repurchase program during the first quarter of 2025. See Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources, of this report for discussion of the shares of common stock purchased by the Company in May 2025 pursuant to the self-tender offer commenced by the Company on April 3, 2025.

   Item 5. Other Information.
    
   Rule 10b5-1 Trading Arrangements 
    
   During the three months ended  March 31, 2025, none of our directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

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      Table of Contents

      Exhibit Number 
      
     Exhibit Description

      3.1 
      
      Articles of Incorporation of PAMT CORP (incorporated by reference to Exhibit 3.1 of the Company's Current Report on Form 8-K, filed on November 12, 2024) 

      3.2 
      
      Bylaws of PAMT CORP (incorporated by reference to Exhibit 3