Tax-driven stock sale by Pangaea (PANL) CFO after RSU vesting

Rhea-AI Filing Summary

Pangaea Logistics Solutions Ltd. Chief Financial Officer Gianni DelSignore reported an open-market sale of 23,779 common shares at a weighted average price of $6.99 per share. According to the footnotes, the shares were sold to satisfy tax withholding obligations tied to vesting restricted stock units. Following the transactions on March 18 and March 19, 2026, DelSignore holds 378,668 common shares directly, indicating he retains a significant equity position in the company despite the tax-driven sale.

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^*

DelSignore Gianni

(Last) (First) (Middle)

257 WICKHAM ROAD

(Street)

NORTH KINGSTOWN RHODE ISLAND 02852

(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 Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/18/2026

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	03/19/2026		S(1)(2)	V	23,779	D	$6.99	378,668	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. Reflects the sale of an aggregate of 23,779 shares of common stock on March 18 and March 19, 2026, at prices ranging from $6.96 to $7.05, with a weighted average price of $6.99. The reporting person undertakes to provide to the issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

2. The shares were sold to satisfy tax withholding obligations in connection with the vesting of restricted stock units.

Remarks:

	/s/ Gianni Del Signore	03/20/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Pangaea Logistics (PANL) report for its CFO?

Pangaea Logistics reported that CFO Gianni DelSignore sold 23,779 common shares. The sale occurred on March 18 and March 19, 2026, at prices between $6.96 and $7.05, with a weighted average price of $6.99 per share.

Why did the Pangaea (PANL) CFO sell 23,779 shares of stock?

The 23,779 shares were sold to satisfy tax withholding obligations related to vesting restricted stock units. This indicates the transaction was primarily a tax-management step rather than a discretionary reduction of the CFO’s investment exposure to Pangaea Logistics Solutions Ltd.

At what prices did the Pangaea Logistics CFO’s March 2026 share sales occur?

Gianni DelSignore’s sales took place at prices ranging from $6.96 to $7.05 per share. The filing reports a weighted average sale price of $6.99 per share across the 23,779 common shares sold in the March 18–19, 2026 transactions.

How many Pangaea Logistics (PANL) shares does the CFO hold after the reported sale?

After selling 23,779 shares to cover tax withholding, CFO Gianni DelSignore directly owns 378,668 common shares. This post-transaction holding, disclosed in the Form 4, shows he continues to maintain a substantial ownership stake in Pangaea Logistics Solutions Ltd.

Was the Pangaea CFO’s March 2026 stock sale an open-market transaction?

Yes. The Form 4 classifies the transaction under code “S,” described as an open-market or private sale. However, the footnote clarifies the sales were executed specifically to satisfy tax withholding obligations triggered by the vesting of restricted stock units.

Does the Pangaea (PANL) CFO’s Form 4 mention multiple transaction dates?

Yes. The Form 4 footnote explains that the aggregate 23,779 shares were sold on March 18 and March 19, 2026. It also notes that full information on the number of shares sold at each separate price is available upon request from various stakeholders.