Pangaea Logistics (PANL) CSO granted time- and performance-based stock awards

Rhea-AI Filing Summary

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.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Schildt Daniel

Role Chief Strategy Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Share $0.0001 Par Value	10,284	$0.00	--
Grant/Award	Common Share $0.0001 Par Value	10,284	$0.00	--

Holdings After Transaction: Common Share $0.0001 Par Value — 17,784 shares (Direct)

Footnotes (1)

1. Represents restricted stock award that vest in equal annual installments over three years, subject to the reporting person's continued service. Represents a performance-based restricted stock award at target. The number of shares that may be earned ranges from 0% to 150% of the target amount based on the achievement of specified performance criteria.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

Schildt Daniel

(Last) (First) (Middle)

109 LONG WHARF

(Street)

NEWPORT RHODE ISLAND 02840

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/25/2026

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

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

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

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	03/25/2026		A(1)	V	10,284	A	$0	17,784	D
Common Share $0.0001 Par Value	03/25/2026		A(2)	V	10,284	A	$0	28,068	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. Represents restricted stock award that vest in equal annual installments over three years, subject to the reporting person's continued service.

2. Represents a performance-based restricted stock award at target. The number of shares that may be earned ranges from 0% to 150% of the target amount based on the achievement of specified performance criteria.

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/ Daniel Schildt	03/26/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did Pangaea Logistics Solutions (PANL) disclose about Daniel Schildt in this Form 4?

Pangaea disclosed that Chief Strategy Officer Daniel Schildt received two equity compensation grants of common shares. These include a time-based restricted stock award and a performance-based restricted stock award, both dated March 25, 2026, increasing his direct share holdings in the company.

How many Pangaea Logistics (PANL) shares were granted to Daniel Schildt?

Daniel Schildt was granted a total of 20,568 common shares. This consists of 10,284 restricted shares that vest over time and 10,284 performance-based restricted shares at target, which may ultimately settle in more or fewer shares based on performance outcomes.

What are the vesting terms for Daniel Schildt’s restricted stock in PANL?

One award of 10,284 restricted shares vests in equal annual installments over three years, subject to Schildt’s continued service. This means portions of the award become his outright each year, aligning his long-term incentives with ongoing employment at Pangaea Logistics Solutions.

How is the performance-based stock award for PANL’s Daniel Schildt structured?

The performance-based restricted stock award is granted at a target of 10,284 shares. The actual number earned can range from 0% to 150% of target, depending on whether specified performance criteria are met, potentially resulting in fewer or more shares than the initial target.

Did Daniel Schildt buy Pangaea Logistics (PANL) shares on the open market?

No, the Form 4 shows acquisitions coded as “A”, indicating grants or awards, not open-market purchases. These shares were issued as equity compensation to Daniel Schildt at a price per share of $0.0000, rather than being bought on the stock exchange.

How many Pangaea Logistics (PANL) shares does Daniel Schildt hold after these grants?

After these March 25, 2026 awards, Daniel Schildt directly holds 28,068 common shares. This figure reflects his position following the two new equity grants reported, providing a snapshot of his updated ownership stake as an executive of the company.