Pangaea Logistics (PANL) Reports $180K Insider Purchase at $4.64

Rhea-AI Filing Summary

Form 4 filing overview: Pangaea Logistics Solutions Ltd. (PANL) reported insider activity by Director Christina Tan, filed 18 June 2025.

On 16 June 2025, Strategic Shipping Inc.—an entity ultimately 24.5 % minority-owned by Tan through Strategic Investments LLC—purchased 39,524 common shares in open-market transactions priced between $4.6235 and $4.6462, totalling roughly $180,000.

Post-transaction beneficial ownership is 18,870,317 shares held indirectly via the corporate chain and 23,077 shares held directly; no derivative positions or dispositions were disclosed. The filing lists Tan solely as a Director, was submitted by one reporting person, and does not reference a Rule 10b5-1 trading plan.

The incremental buy increases the indirect stake by less than 0.25 %, suggesting confidence but limited market impact. No earnings or other corporate developments were included.

Positive

• Insider confidence: Director-linked entity bought 39,524 PANL shares for approximately $180,000.
• Substantial aligned ownership: Christina Tan continues to hold 18.9 m shares indirectly, reinforcing long-term commitment.

Negative

• Immaterial size: Purchase adds less than 0.25 % to existing stake, limiting market impact.

Insights

Financial Analyst

TL;DR: Small $180k insider purchase, marginally positive signal; immaterial versus 18.9 m-share stake, unlikely to shift valuation.

The 39,524-share acquisition at an average ~$4.64 adds a symbolic layer of confidence by a board member but represents only 0.21 % of Tan’s indirect holdings and an even smaller portion of PANL’s float. Dollar value is modest, so liquidity or capital structure effects are negligible. Still, insider alignment remains strong, with aggregate ownership near 18.9 m shares. Absent additional catalysts, the filing is informational rather than valuation-moving.

Corporate Governance Expert

TL;DR: Governance-neutral event; director maintains large aligned stake, buy size too small to be material.

The disclosure complies with Section 16 requirements and clarifies complex indirect ownership via LLC layers. Tan’s continued accumulation supports shareholder alignment, yet the low transaction volume suggests routine portfolio management rather than a strategic governance signal. No red flags on timing or undisclosed trading plans were observed.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Tan Christina

(Last) (First) (Middle)

C/O PANGAEA LOGISTICS SOLUTIONS LTD

109 LONG WHARF

(Street)

NEWPORT RI 02840

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Pangaea Logistics Solutions Ltd. [ PANL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/16/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares, $0.0001 par value per share								23,077	D
Common Shares, $0.0001 par value per share								18,870,317(2)	I	By Company(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Reporting Person owns a 24.5% minority non-controlling limited liability company interest in Strategic Investments LLC ("SIL"), which is the sole shareholder of Strategic Shipping Inc. ("Strategic"). Strategic owns the reported common shares of the Issuer (the "Common Shares") and as a result SIL may be deemed to beneficially own the Common Shares. The Reporting Person disclaims beneficial ownership of the Common Shares except to the extent of her pecuniary interest therein.

2. On June 16, 2025, Strategic purchased an aggregate of 39,524 Common Shares in multiple transactions at prices ranging from $4.6235 and $4.6462 per Common Share, with an aggregate purchase price of approximately $180,000. The Reporting Person undertakes to provide Pangaea Logistics Solutions Ltd., any security holder of Pangaea Logistics Solutions Ltd., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each price within the range set forth herein.

	By: /s/ Christina Tan	06/18/2025
	** Signature of Reporting Person	Date
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.

FAQ

How many PANL shares did Director Christina Tan just buy?

Strategic Shipping Inc., linked to Tan, purchased 39,524 common shares on 16 June 2025.

What price did the recent PANL insider purchase occur at?

The trades were executed between $4.6235 and $4.6462 per share.

What is Christina Tan’s total PANL ownership after the transaction?

She reports 18,870,317 shares held indirectly and 23,077 shares held directly.

Does the Form 4 mention a Rule 10b5-1 trading plan?

No; the filing does not reference any Rule 10b5-1 plan.

Is the insider purchase likely to impact PANL’s share price?

Given its small size (<0.25 % of holdings), the transaction is unlikely to materially affect share price.