Company: PAMT
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007273
Chunk: 193

Company: PAMT CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1A
Chunk 193
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 1, 2024   198,859  $14.07 
 Granted   2,130   17.60 
 Canceled/forfeited/expired   (4,383)  30.65 
 Vested   (68,015)  13.64 
 Nonvested—December 31, 2024:   128,591  $13.79 

    14.  EARNINGS PER SHARE 

   Basic (loss) earnings per common share was computed by dividing net (loss) income by the weighted average number of shares outstanding (on a stock split adjusted basis) during the period. Diluted (loss) earnings per common share was calculated as follows:

       For the Year Ended December 31,  
   2024    2023    2022  
   (in thousands, except per share data)  
             
 Net (loss) income  $(31,795) $18,416  $90,672 
             
 Basic weighted average common shares outstanding(1)   21,878   22,056   22,246 
 Dilutive effect of common stock equivalents   -   141   190 
             
 Diluted weighted average common shares outstanding(1)   21,878   22,197   22,436 
             
 Basic (loss) earnings per share  $(1.45) $0.83  $4.08 
             
 Diluted (loss) earnings per share  $(1.45) $0.83  $4.04 

     (1)  As adjusted for the Company’s 2-for-1 forward stock splits paid in  March 2022. 

    15.  BENEFIT PLAN 

   The Company sponsors a benefit plan for the benefit of all eligible employees. The plan qualifies under Section 401(k) of the Internal Revenue Code thereby allowing eligible employees to make tax-deductible contributions to the plan. The plan provides for employer matching contributions of 50% of each participant’s voluntary contribution up to 3% of the participant’s compensation and vests at the rate of 20% each year until fully vested after five years. Total employer matching contributions to the plan were approximately $288,000, $245,000 and $212,000 in 2024,