Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 319

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 2
Chunk 319
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 of common stock from 50,000,000 to 100,000,000 shares. At  December 31, 2024, there were 22,364,120 shares of our common stock issued and 21,782,534 shares outstanding. At  December 31, 2023, there were 22,317,671 shares of our common stock issued and 22,021,341 shares outstanding. No shares of our preferred stock were issued or outstanding at  December 31, 2024 or 2023.
    
   Common Stock
    
   The holders of our common stock, subject to such rights as  may be granted to any preferred stockholders, elect all directors and are entitled to one vote per share. All shares of common stock participate equally in dividends when and as declared by the Board of Directors and in net assets on liquidation. The shares of common stock have no preference, conversion, exchange, preemptive, or cumulative voting rights.
    
   Preferred Stock
    
   Preferred stock  may be issued from time to time by our Board of Directors, without stockholder approval, in such series and with such preferences, conversion or other rights, voting powers, restrictions, limitations as to dividends, qualifications or other provisions, as  may be fixed by the Board of Directors in the resolution authorizing their issuance. The issuance of preferred stock by the Board of Directors could adversely affect the rights of holders of shares of common stock; for example, the issuance of preferred stock could result in a class of securities outstanding that would have certain preferences with respect to dividends and in liquidation over the common stock, and that could result in a dilution of the voting rights, net income per share and net book value of the common stock. As of  December 31, 2024, we have no agreements or understandings for the issuance of any shares of preferred stock.
    
   Treasury Stock
    
   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. The Company repurchased 1,050 shares and 169,093 shares of its common stock under this program during 2024 and 2023, respectively. As of  December 31, 2024, there remain 474,016 shares of common stock authorized under this plan.
    
   On