# EDGAR Filing Document

**Accession Number:** 0001606909
**File Stem:** 0001606909-25-000154
**Filing Date:** 2025-9
**Character Count:** 10958
**Document Hash:** 28222720165156875237f75393a9efae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001606909-25-000154.hdr.sgml**: 20250917

**ACCESSION NUMBER**: 0001606909-25-000154

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250917

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250917

**DATE AS OF CHANGE**: 20250917

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pangaea Logistics Solutions Ltd.
- **CENTRAL INDEX KEY:** 0001606909
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** D0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-36798
- **FILM NUMBER:** 251320754

**BUSINESS ADDRESS:**
- **STREET 1:** 109 LONG WHARF
- **CITY:** NEWPORT
- **STATE:** RI
- **ZIP:** 02840
- **BUSINESS PHONE:** 401-457-9552

**MAIL ADDRESS:**
- **STREET 1:** 109 LONG WHARF
- **CITY:** NEWPORT
- **STATE:** RI
- **ZIP:** 02840

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Quartet Holdco Ltd.
- **DATE OF NAME CHANGE:** 20140430

?xml version='1.0' encoding='ASCII'? panl-20250917

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**______________**

**FORM 8-K**

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(D) OF THE**

**SECURITIES EXCHANGE ACT OF 1934** 

Date of Report (Date of earliest event reported): September 17, 2025

**<u>PANGAEA LOGISTICS SOLUTIONS LTD.</u>**

(Exact Name of Registrant as Specified in Charter)

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| | | |
|:---|:---|:---|
| Bermuda | 001-36798 | 98-1205464 |
| (State or Other Jurisdiction | (Commission | (IRS Employer |
| of Incorporation) | File Number) | Identification No.) |

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<u>c/o Phoenix Bulk Carriers (US) LLC</u>

<u>109 Long Wharf, Newport, Rhode Island 02840</u>

(Address of Principal Executive Offices) (Zip Code)

<u>(401) 846-7790</u>

(Registrant's Telephone Number, Including Area Code)

**Not Applicable**

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

 ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of exchange on which registered <br> Common Stock PANL Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

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On September 17, 2025, Pangaea Logistics Solutions Ltd. (the "Company") announced that Mark Filanowski will retire as the Company's Chief Executive Officer and step-down from the Board of Directors effective on January 1, 2026, following eleven years with the Company. As part of the Company's succession plan, Mads Petersen, 46, the Company's Chief Operating Officer since 2022, has been appointed to succeed Mr. Filanowski as President and Chief Executive Officer, effective January 1, 2026. Mr. Peterson intends to resign as the Company's Chief Operating Officer, effective as of his appointment as Chief Executive Officer on January 1, 2026. In connection with his appointment as Chief Executive Officer, Mr. Petersen will also join the Company's Board of Directors effective as of January 1, 2026, to be nominated for reelection to the Company's Board of Directors at the next annual shareholder meeting.

Mr. Petersen joined the Company in 2009 when he established and served as Managing Director of Nordic Bulk Carriers, currently renamed Pangaea Logistics Solutions Denmark in 2023. a wholly owned subsidiary of the Company. He led the Company's Copenhagen office, where he focused on the Company's ice-class vessel activities and oversaw the Company's newbuilding activities in Japan and China. Mr. Petersen has overseen the Company's commercial, operational, and technical functions as Chief Operating Officer since 2022. Additionally, Mr. Peterson will make a suitable director of the Company due to his long-standing familiarity with the Company and its operations and vast experience in the shipping industry.

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| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

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(d)Exhibits

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| | |
|:---|:---|
| <u>Exhibit</u> | <u>Description</u> |
| 99.1 | [Press Release dated September 17, 2025](pressreleasedatedseptember.htm) |
| 104 | Cover Page Interactive Data File (embedded within Inline XBRL document) |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: September 17, 2025

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| | |
|:---|:---|
| PANGAEA LOGISTICS SOLUTIONS LTD. | PANGAEA LOGISTICS SOLUTIONS LTD. |
| By: | /s/ Gianni Del Signore |
|  | Name: Gianni Del Signore<br>Title: Chief Financial Officer |

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## Exhibit 99.1

**Pangaea Logistics Solutions Ltd. Announces Chief Executive Officer Retirement and Succession Plan**

NEWPORT, RI – September 17, 2025 – Pangaea Logistics Solutions Ltd. ("Pangaea" or the "Company") (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, today announced that, Mark Filanowski will retire as the Company's Chief Executive Officer and step-down from the Board of Directors effective on January 1, 2026, following eleven years with the Company. As part of Pangaea's succession plan, Mads Petersen, the Company's Chief Operating Officer, has been appointed to succeed Mr. Filanowski as President and Chief Executive Officer, effective January 1, 2026. In connection with his appointment as CEO, Mr. Petersen will also join the Company's board of directors on January 1, 2026.

Throughout his 16-year tenure with Pangaea, Mr. Petersen has been instrumental in the Company's growth and strategic execution. Mr. Petersen has more than 20 years of experience in the dry bulk shipping industry and joined the Company in 2009 when he established Nordic Bulk Carriers in partnership with Pangaea. He led Pangaea's Copenhagen office, where he focused on the Company's ice-class vessel activities and oversaw the Company's newbuilding activities in Japan and China. Petersen has overseen Pangaea's commercial, operational, and technical functions since 2022.

"On behalf of the Board, I want to thank Mark for his many years of leadership and dedication," said Richard du Moulin, Chairman of Pangaea's Board of Directors. "During his tenure, he successfully navigated a dynamic global shipping environment while scaling Pangaea's differentiated cargo-focused platform. Under his leadership, our owned vessel fleet has tripled, and our port and logistics operations have expanded to 10 marine terminals across the U.S. Gulf Coast and Mid-Atlantic regions. Since the passing of our founder, Ed Coll, Mark has been instrumental in sustaining Pangaea's growth and in positioning the Company for continued success in the years ahead. I am confident that Ed would be proud of the achievements delivered by Mark, Mads and the entire Pangaea team."

"It has been an honor to work alongside the Pangaea team over the last eleven years. Across ships, terminals, and offices on three continents, we have delivered strong results by staying true to our strategy and working together as one team," said Mr. Filanowski. "I have full confidence that Mads is the right leader to take Pangaea into its next chapter. He is innovative, a clear communicator and deeply understands our industry and how to serve our customers well. With his 16-year experience across all aspects of the business, Mads is exceptionally well prepared to execute on Pangaea's unique business model and strategic vision."

Mr. Petersen commented, "I am honored to serve as Pangaea's next Chief Executive Officer, and I want to thank Mark for his strategic leadership and steady guidance. Pangaea has a proven and differentiated business model that has delivered above-market returns across market cycles. Together with my colleagues, I look forward to building on that foundation, continuing to provide innovative, customer-focused maritime solutions, and driving long-term value for our shareholders."

"Following a thoughtful succession planning process, the Board has determined that Mads is the right leader to carry forward our strategy," concluded Mr. Du Moulin. "His deep industry expertise, long tenure with Pangaea, and unmatched operational insight position him to lead the Company into its next phase of growth and value creation."

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**ABOUT PANGAEA LOGISTICS SOLUTIONS LTD.**

Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) and its subsidiaries (collectively, "Pangaea" or the "Company") provides seaborne dry bulk logistics and transportation services as well as terminal and stevedoring services. Pangaea utilizes its logistics expertise to service a broad base of industrial customers who require the transportation of a wide variety of dry bulk cargoes, including grains, coal, iron ore, pig iron, hot briquetted iron, bauxite, alumina, cement clinker, dolomite and limestone. The Company addresses the logistics needs of its customers by undertaking a comprehensive set of services and activities, including cargo loading, cargo discharge, port and terminal operations, vessel chartering, voyage planning, and vessel technical management. Learn more at www.pangaeals.com.

**Investor Relations Contacts**

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| | |
|:---|:---|
| Gianni Del Signore | Noel Ryan and Stefan Neely |
| Chief Financial Officer | Vallum Advisors |
| 401-846-7790 | PANL@val-adv.com |
| Investors@pangaeals.com | |

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