Pangaea director granted 14,151 PANL shares

Sgro David reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Sgro David reported acquisition or exercise transactions in this Form 4 filing.

Pangaea Logistics Solutions Ltd. director David Sgro reported an equity award of 14,151 common shares at $8.48 per share. The shares were issued under the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan, as amended and restated by the board on May 7, 2024.

After this grant, Sgro directly holds 361,811 common shares, reflecting his updated ownership position in the company.

Insider Trade Summary

Grant/Award: 14,151 shares

Grant/Award 2 txns

Insider Sgro David

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Share $0.0001 Par Value	14,151	$8.48	$120K
holding	Common Share $0.0001 Par Value	--	--	--

Holdings After Transaction: Common Share $0.0001 Par Value — 709,471 shares (Direct)

Footnotes (1)

1. F1. The shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Pangaea (PANL) director David Sgro report?

Director David Sgro reported receiving a grant of 14,151 Pangaea common shares. The award was priced at $8.48 per share and reflects an equity-based compensation grant rather than an open-market purchase or sale.

How many Pangaea (PANL) shares does David Sgro own after this Form 4?

After the reported equity award, David Sgro directly owns 361,811 Pangaea common shares. This total reflects his updated direct holdings following the 14,151-share grant disclosed in the Form 4 filing.

At what price were the Pangaea (PANL) shares granted to David Sgro?

The 14,151 Pangaea common shares granted to David Sgro were valued at $8.48 per share. This price is used for reporting purposes in the Form 4 and reflects the grant’s accounting value, not an open-market trade price.

Was David Sgro’s Pangaea (PANL) share change a purchase or a grant?

The change was a grant or award, not an open-market purchase. The Form 4 uses transaction code A, indicating a grant, award, or other acquisition issued under the company’s 2024 Share Incentive Plan.

What plan governed the 14,151-share grant to Pangaea (PANL) director Sgro?

The 14,151-share grant to David Sgro was issued under the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan, which was amended and restated by the board of directors on May 7, 2024, according to the Form 4 footnote.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/20/2026 - 06:31 PM Learn about SEC filing dates

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^*

Sgro David

(Last) (First) (Middle)

777 3RD AVENUE

37TH FLOOR

(Street)

NEW YORK NY 10017

(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)
02/18/2026

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 Share $0.0001 Par Value								347,660	D
Common Share $0.0001 Par Value(1)	02/18/2026		A	V	14,151	A	$8.48	361,811	D

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 shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated by the Board of Directors on May 7, 2024).

Remarks:

	/s/ David Sgro	02/20/2026
	** 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.