Company: PAMT
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001437749-25-015763
Chunk: 15

Company: PAMT CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 stock-based compensation plans with total unvested stock-based compensation expense of approximately $2,659,000, which is being amortized on a straight-line basis over the remaining vesting period. As a result, the Company expects to recognize approximately $785,000 in additional compensation expense related to unvested stock awards during the remainder of 2025 and to recognize approximately $829,000, $498,000, and $364,000 in additional compensation expense related to unvested stock-based awards during the years 2026, 2027, and 2028, respectively.
    
   The total grant date fair value of stock vested during the first three months of 2024 was approximately $450,000. The total pre-tax stock-based compensation expense, recognized in salaries, wages and benefits during the first three months of 2024, was approximately $192,000. The recognition of stock-based compensation expense decreased both diluted and basic earnings per common share by approximately $0.01 during the first three months of 2024. As of  March 31, 2024, the Company had stock-based compensation plans with total unvested stock-based compensation expense of approximately $1,942,000, which was being amortized on a straight-line basis over the remaining vesting period.
    
   A summary of the status of the Company’s non-vested stock-based awards as of  March 31, 2025, and changes during the three months ended  March 31, 2025, is as follows:

       Stock-Based Awards  
   Number of Shares/Units    Weighted- Average Grant Date Fair Value  
 Non-vested at January 1, 2025   128,591  $13.79 
 Granted   100,000   16.10 
 Canceled/forfeited/expired   -   - 
 Vested   (10,500)  33.70 
 Non-vested at March 31, 2025   218,091  $13.89 

   NOTE F: SEGMENT INFORMATION
   The Company follows the guidance provided by ASC Topic 280, Segment Reporting, in its identification of operating segments. The Company has determined that it has a total of two operating segments whose primary operations can be characterized as either Truckload Services or Brokerage and Logistics Services; however, in accordance with the aggregation criteria provided by FASB ASC Topic 280,