Director Eugene Davis of Pangaea (PANL) awarded 14,151 shares

Rhea-AI Filing Summary

DAVIS EUGENE I reported acquisition or exercise transactions in this Form 4 filing.

Pangaea Logistics Solutions Ltd. director Eugene I. Davis received a grant of 14,151 common shares on February 18, 2026, at $8.48 per share. Following this award, his directly owned holdings total 14,151 common shares.

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

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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^*

DAVIS EUGENE I

(Last) (First) (Middle)

C/O 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)
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	02/18/2026		A	V	14,151	A	$8.48	14,151	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:

Remarks:

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).

	/s/ Eugene Davis	02/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did PANL director Eugene I. Davis report?

Eugene I. Davis reported acquiring 14,151 Pangaea Logistics Solutions common shares as a grant or award. The transaction involved non-derivative common shares and reflects an increase in his direct equity stake in the company.

On what date did Eugene I. Davis receive the PANL share grant?

The grant of Pangaea Logistics Solutions shares to Eugene I. Davis occurred on February 18, 2026. This date marks when the 14,151 common shares were awarded and added to his direct ownership position.

At what price was the Pangaea Logistics Solutions share award recorded?

The 14,151 Pangaea Logistics Solutions common shares granted to Eugene I. Davis were recorded at $8.48 per share. This price is the transaction value used in the Form 4 for the non-derivative equity award.

How many PANL shares does Eugene I. Davis own after this transaction?

After the February 18, 2026 grant, Eugene I. Davis directly owns 14,151 Pangaea Logistics Solutions common shares. The Form 4 states this total share count following the award transaction.

Is Eugene I. Davis’s PANL share ownership direct or indirect?

The Form 4 indicates that Eugene I. Davis’s 14,151 Pangaea Logistics Solutions common shares are held as direct ownership. The ownership code is listed as “D,” and no indirect holding entity is referenced.