Gary Vogel awarded 14,151 shares in Pangaea Logistics (NASDAQ: PANL)

Rhea-AI Filing Summary

Vogel Gary reported acquisition or exercise transactions in this Form 4 filing.

Pangaea Logistics Solutions Ltd. director Gary Vogel reported receiving a grant of 14,151 common shares on February 18, 2026. The unrestricted shares were issued under the company’s 2024 Share Incentive Plan, bringing his directly held position to 37,228 common shares after the award.

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^*

Vogel Gary

(Last) (First) (Middle)

109 LONG WHARF

C/O PANGAEA LOGISTICS SOLUTIONS LTD.

(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(1)	$8.48	37,228	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. Unrestricted 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/ Gary Vogel	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 Gary Vogel report?

Gary Vogel reported receiving a grant of 14,151 Pangaea Logistics Solutions common shares. The award was recorded as an acquisition under a share incentive plan and increased his directly held position to 37,228 shares following the transaction.

On what date were shares granted to Gary Vogel at Pangaea Logistics Solutions (PANL)?

The common share grant to Gary Vogel was dated February 18, 2026. This grant, reported on Form 4, reflects an equity award rather than an open-market purchase, issued under Pangaea Logistics Solutions Ltd.’s 2024 Share Incentive Plan.

How many PANL shares does Gary Vogel hold after the reported Form 4 transaction?

After the reported grant, Gary Vogel directly holds 37,228 Pangaea Logistics Solutions common shares. This total includes the new 14,151 unrestricted shares issued under the company’s 2024 Share Incentive Plan, as amended and restated by the board.

Was Gary Vogel’s PANL share transaction a market purchase or an equity award?

The transaction was an equity award, not a market purchase. The Form 4 classifies it as a grant or other acquisition, with unrestricted shares issued pursuant to Pangaea Logistics Solutions Ltd.’s 2024 Share Incentive Plan rather than bought on the open market.

Under which plan were the new PANL shares granted to Gary Vogel?

The new shares were issued under the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan. The footnote notes this plan was amended and restated by the board of directors on May 7, 2024, and the shares granted are unrestricted common shares.