Welcome to our dedicated page for Pangaea Logistics Solution SEC filings (Ticker: PANL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Pangaea Logistics Solutions Ltd. filings document a Nasdaq-listed maritime logistics company incorporated in Bermuda and focused on seaborne drybulk transportation, terminal operations and stevedoring services. Form 8-K reports furnish quarterly operating results and investor presentations, record dividend declarations on common shares and disclose material corporate events.
Proxy materials cover director elections, board structure, executive compensation, equity awards and related governance matters. Other recent event filings address board appointments, executive succession, changes in the independent registered public accounting firm and exhibits tied to financial results, dividends and governance actions.
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.
DelSignore Gianni reported acquisition or exercise transactions in this Form 4 filing.
Pangaea Logistics Solutions Ltd. Chief Financial Officer Gianni DelSignore reported two stock awards of common shares. On March 25, 2026, he was granted 12,794 restricted shares that vest in equal annual installments over three years, subject to continued service, and a further 12,794 performance-based restricted shares at target, with the actual number earned ranging from 0% to 150% of that target based on specified performance criteria. Following these compensation awards, he directly holds 404,256 common shares.
Schildt Daniel reported acquisition or exercise transactions in this Form 4 filing.
Pangaea Logistics Solutions Ltd. reported that Chief Strategy Officer Daniel Schildt received two equity compensation awards of common shares. He was granted 10,284 restricted shares that vest in equal annual installments over three years, subject to continued service, and 10,284 performance-based restricted shares at target. The performance-based award can pay out from 0% to 150% of the target amount depending on specified performance criteria. Following these grants, Schildt directly holds 28,068 common shares.
Pangaea Logistics Solutions Ltd. Chief Financial Officer Gianni DelSignore reported an open-market sale of 23,779 common shares at a weighted average price of $6.99 per share. According to the footnotes, the shares were sold to satisfy tax withholding obligations tied to vesting restricted stock units. Following the transactions on March 18 and March 19, 2026, DelSignore holds 378,668 common shares directly, indicating he retains a significant equity position in the company despite the tax-driven sale.
Pangaea Logistics Solutions Ltd. Chief Executive Officer Mads Rosenber Boye sold 19,572 common shares in an open-market transaction. The shares were sold on March 18, 2026 at a weighted average price of $7.063 per share, according to the filing footnote.
After this sale, Boye directly holds 680,016 common shares. The transaction represents a relatively small portion of his reported direct ownership and does not involve any derivative securities, as no options or similar instruments are listed as exercised or remaining in this filing.