# EDGAR Filing Document

**Accession Number:** 0001510697
**File Stem:** 0001683168-23-001713
**Filing Date:** 2023-3
**Character Count:** 9010
**Document Hash:** fbf8b543cc7f81a6df6c7a6e095c8ed2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001683168-23-001713.hdr.sgml**: 20230323

**ACCESSION NUMBER**: 0001683168-23-001713

**CONFORMED SUBMISSION TYPE**: 3

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230313

**FILED AS OF DATE**: 20230323

**DATE AS OF CHANGE**: 20230323

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** STEWART LANCE
- **CENTRAL INDEX KEY:** 0001510697

**FILING VALUES:**
- **FORM TYPE:** 3
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-15057
- **FILM NUMBER:** 23757463

**MAIL ADDRESS:**
- **STREET 1:** POST OFFICE BOX 188
- **CITY:** TONTITOWN
- **STATE:** AR
- **ZIP:** 72770
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PAM TRANSPORTATION SERVICES INC
- **CENTRAL INDEX KEY:** 0000798287
- **STANDARD INDUSTRIAL CLASSIFICATION:** TRUCKING (NO LOCAL) [4213]
- **IRS NUMBER:** 710633135
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 297 WEST HENRI DE TONTI BLVD
- **CITY:** TONTITOWN
- **STATE:** AR
- **ZIP:** 72770
- **BUSINESS PHONE:** 4793619111

**MAIL ADDRESS:**
- **STREET 1:** 297 WEST HENRI DE TONTI BLVD
- **CITY:** TONTITOWN
- **STATE:** AR
- **ZIP:** 72770

## Exhibit 24.1

**Exhibit 24.1**

**POWER OF ATTORNEY**

**For Executing Forms 3, 4 and 5, Form 144 and Schedules 13D and 13G**

Know all by these presents, that the undersigned hereby constitutes and appoints each of Joseph A. Vitiritto, Courtney C. Crouch, III, D. Nicole Lovell, and Katie W. Branscum, signing singly, as the undersigned's true and lawful attorney-in-fact to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) prepare, execute in the undersigned's name and on the undersigned's behalf, and submit to
the United States Securities and Exchange Commission (the "SEC") a Form ID, including amendments thereto, and any other documents
necessary or appropriate to obtain codes and passwords enabling the undersigned to make electronic filings with the SEC of reports required
by Section 16(a) of the Securities Exchange Act of 1934, as amended, or any rule or regulation of the SEC; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) execute for and on behalf of the undersigned, in the undersigned's capacity as an officer of **P.A.M. Transportation Services, Inc.** (the "Company"), (a) Forms 3, 4, and 5 (including amendments thereto) in accordance with
Section 16(a) of the Securities Exchange Act of 1934, as amended, and the rules thereunder (the "Exchange Act"), (b) Form 144,
(c) Schedules 13D and 13G (including amendments thereto) in accordance with Sections 13(d) and 13(g) of the Exchange Act, and (d)
any other forms on reports the undersigned may be required to file in connection with the undersigned's ownership, acquisition,
or disposition of securities of the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable
to complete and execute any such Form 3, 4, or 5, Form 144 or Schedule 13D or 13G (including amendments thereto), or other form
or report, and timely file such form or report with the SEC and any stock exchange or similar authority; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of
such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that
the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form
and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.

The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of the power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply, or any liability for failure to comply, with the requirements of Sections 13 and 16 of the Securities Exchange Act of 1934, the rules and regulations thereunder, and Rule 144 under the Securities Act of 1933.

This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, or 5, Form 144 and Schedules 13D and 13G (including amendments thereto) with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact. This Power of Attorney revokes all previous powers of attorney with respect to the subject matter of this Power of Attorney.

IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 16th day of March 2023.

<u>/s/ Lance K. Stewart</u> 

Signature

<u>Lance K. Stewart</u> 

Printed Name

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3

### INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>STEWART LANCE<br><sub>(Last) (First) (Middle)</sub><br>C/O P.A.M. TRANSPORTATION SERVICES, INC.<br>POST OFFICE BOX 188<br><sub>(Street)</sub><br>TONTITOWN, AR 72770<br><sub>(City) (State) (Zip)</sub> | **3. Issuer Name and Ticker or Trading Symbol**<br>PAM TRANSPORTATION SERVICES INC [ PTSI ] | **5. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  |
| **2. Date of Event Requiring Statement (Month/Day/Year)**<br>2023-03-13 | **4. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director   [ ] 10% Owner<br>[X] Officer (give title below)   [ ] Other (specify below)<br>_Interim CFO and Treasurer_ | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities Beneficially Owned

---

|  |  |  |  |
| --- | --- | --- | --- |
| 1. Title of Security | 2. Amount of Securities Beneficially Owned | 3. Ownership Form | 4. Nature of Indirect Beneficial Ownership |
| Common Stock | 19778<sup>(1)</sup> | D |  |

---

## Table II - Derivative Securities Beneficially Owned

---

|  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Underlying Securities | 3. Title and Amount of Underlying Securities | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 4. Conversion or Exercise Price | 5. Ownership Form | 6. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) Includes 19,128 shares of restricted stock which will vest as follows: 1,428 shares which will "cliff" vest 100% on January 3, 2024; 13,332 shares which will "cliff" vest 100% on August 4, 2024; 1,948 shares which will vest in installments of 650 shares each on February 9 in 2024 and 2025 and 648 shares on February 9, 2026; and 2,420 shares which will vest in four equal annual installments beginning on February 9, 2024.

**Remarks:**
Exhibit 24.1 - Power of Attorney

**Signature:** /s/ Courtney C. Crouch, III, as Attorney-in-Fact for Lance Stewart  
**Date:** 2023-03-23

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**