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Director Laura Anthony of Pangaea Logistics Solutions Ltd. reported a series of non-market transactions in common shares. On February 25, 2026, she made a bona fide gift of 14,140 common shares, and irrevocable family trusts for her children each received 7,070 shares as awards. Similar transactions occurred on February 28, 2025, when she gifted 23,088 shares and the same trusts each received 11,544 shares. After these transfers, her direct holdings in the reported shares fell to zero, while substantial indirect holdings are shown through the irrevocable family trusts.
Pangaea Logistics Solutions Ltd. reported that, on June 7, 2026, three directors — Eric S. Rosenfeld, David D. Sgro and Anthony Laura — were removed from its Board of Directors under section 24.1.7 of its Bye-Laws, which allows removal when at least three quarters of the other directors request a resignation in writing.
The Board now has seven members. The current directors state that a seven-person board better matches the company’s size and strategic priorities and that this structure should allow more efficient discussion, deliberation and decision-making for shareholders.
Pangaea Logistics Solutions Ltd. filed an Amendment No. 1 to Schedule 13G/A reporting that Maureen Maze, as sole trustee of three family trusts, beneficially owns 3,151,988 shares of Common Stock, equal to 4.83% of the class. The percentage is based on 65,318,647 shares outstanding as of March 13, 2026, per the issuer's Form 10-K for the fiscal year ended December 31, 2025. The filing states Ms. Maze has sole voting and dispositive power over the shares held by the Edward & Julia Coll Trusts for Andrew, James and Aidan Coll.
Pangaea Logistics Solutions Ltd. director Eric Rosenfeld reported an open-market sale of common shares. He sold 100,000 Common Shares on May 26, 2026 at a weighted average price of $8.37 per share, with individual trades executed between $8.34 and $8.40 according to the footnote. After this transaction, he directly holds 536,845 Common Shares, indicating he retained a substantial equity position in the company.
PANL reports a proposed sale of 100,000 shares of Common Stock via a Form 144. The filing lists the securities as held at Charles Schwab and indicates the method as open market transactions. The filing shows 841,000 shares (beneficial holdings) and 65,414,923 shares outstanding as of 05/15/2026.
Pangaea Logistics Solutions Ltd. reported voting results from its 2026 Annual Meeting of Shareholders. Of 65,318,647 common shares entitled to vote, 54,259,260 were represented in person or by proxy, establishing a quorum.
Shareholders elected four Class III directors to terms ending in 2029, one Class I director to a term ending in 2027, and one Class II director to a term ending in 2028. All director nominees received substantially more votes "for" than "against."
Shareholders also ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm for fiscal 2026 and approved, on an advisory, non-binding basis, the compensation of the company’s named executive officers.
Pangaea Logistics Solutions Ltd. reported a strong start to 2026, with GAAP net income attributable to the company of $13.3 million, or $0.21 per share, for the quarter ended March 31, 2026, compared with a net loss a year ago. Total revenue rose to $170.6 million as Time Charter Equivalent rates increased 34% year over year to $15,252 per day, helped by a 14% increase in total shipping days to 5,947.
Adjusted net income was $7.0 million, or $0.11 per share, and Adjusted EBITDA climbed 70% to $25.2 million, lifting the margin to 14.8% from 12.1%. Pangaea’s TCE outperformed the average Baltic Panamax, Supramax and Handysize indices by 20%, reflecting its specialized fleet, long-term contracts of affreightment and cargo‑focused strategy.
The company generated operating cash flow of $4.5 million and ended the quarter with $89.7 million in unrestricted cash and total debt of $363.2 million, for net leverage of 2.4x trailing twelve‑month Adjusted EBITDA. The board declared a quarterly cash dividend of $0.05 per common share, payable June 15, 2026, and advanced its port expansion and fleet renewal initiatives, including an agreement to sell the 2006‑built Bulk Xaymaca for $9.6 million.
Pangaea Logistics Solutions Ltd. reported a strong turnaround for the three months ended March 31, 2026. Total revenue rose to $170.6 million from $122.8 million, driven by higher dry bulk freight rates, more voyage days, and nearly doubled terminal and stevedore revenue.
Net income attributable to Pangaea was $13.3 million, compared with a $2.0 million loss a year earlier, with diluted EPS moving to $0.21 from a loss of $0.03. TCE rates increased to $15,252 per day from $11,390, and Adjusted EBITDA grew to $25.2 million from $14.8 million.
Cash, cash equivalents and restricted cash were $90.0 million, while total secured debt including financing obligations and finance leases was $360.0 million and stockholders’ equity was $486.8 million. A change in vessel depreciation estimates reduced quarterly net income by about $1.6 million, or $0.03 per share. The board also declared a subsequent quarterly cash dividend of $0.05 per share.
Pangaea Logistics Solutions Ltd. will hold its annual shareholder meeting on May 7, 2026, to vote on six proposals. Shareholders will elect four Class III directors through 2029, one Class I director through 2027, and one Class II director through 2028 under a majority voting standard.
Investors will also vote on ratifying Deloitte & Touche LLP as independent auditor for 2026 and on an advisory “say‑on‑pay” resolution covering 2025 executive compensation. As of March 17, 2026, there were 65,318,647 common shares outstanding, each with one vote.
The proxy details a CEO transition from Mark Filanowski to Mads Rosenberg Boye Petersen effective January 1, 2026, and explains a pay program emphasizing base salary, short‑term incentives tied 60% to adjusted EBITDA and 25% to strategic goals, and long‑term equity. From 2026, awards will include performance‑based stock units linked to ROCE and relative TSR. The Board reports that a majority of directors are independent and that all key committees meet Nasdaq and SEC independence and expertise standards.
Petersen Mads Rosenber Boye reported acquisition or exercise transactions in this Form 4 filing.
Pangaea Logistics Solutions Ltd. Chief Executive Officer Mads Rosenber Boye reported two stock awards of 23,710 common shares each on 2026-03-25. These are coded as grants, not open‑market purchases, and were received at a stated price of $0.0000 per share.
One grant is a time‑based restricted stock award that vests in equal annual installments over three years, conditioned on continued service. The other is a performance‑based restricted stock award at a target of 23,710 shares, with the actual number earned ranging from 0% to 150% of target based on specified performance criteria. Following these awards, Boye directly holds 727,436 common shares.