Director at Pangaea (PANL) receives 14,151-share equity award

Rhea-AI Filing Summary

Pangaea Logistics Solutions Ltd. director Eric Rosenfeld reported an equity award of common shares. On February 18, 2026, he acquired 14,151 unrestricted common shares of the company at $8.48 per share, issued under the 2024 Share Incentive Plan as amended by the board.

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^*

ROSENFELD ERIC

(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								622,694	D
Common Share $0.0001 Par Value	02/18/2026		A(1)		14,151	A	$8.48	636,845	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/ Eric Rosenfeld	02/26/2026
	** 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).
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FAQ

What insider transaction did Pangaea Logistics Solutions (PANL) report for Eric Rosenfeld?

Pangaea Logistics Solutions director Eric Rosenfeld reported receiving 14,151 unrestricted common shares. The award was recorded as an acquisition on February 18, 2026 and reflects an equity incentive rather than an open-market purchase or sale.

How many Pangaea Logistics Solutions (PANL) shares were granted to Eric Rosenfeld?

Eric Rosenfeld was granted 14,151 unrestricted common shares of Pangaea Logistics Solutions. This equity award was reported as a Form 4 acquisition and represents additional direct ownership through the company’s 2024 Share Incentive Plan.

At what price were Eric Rosenfeld’s new Pangaea Logistics (PANL) shares recorded?

The 14,151 common shares reported for Eric Rosenfeld were recorded at $8.48 per share. This figure reflects the value used in the Form 4 for the equity award, not an open-market purchase price.

What type of shares did Eric Rosenfeld receive from Pangaea Logistics (PANL)?

Eric Rosenfeld received unrestricted common shares of Pangaea Logistics Solutions. The Form 4 notes that the 14,151 shares are common stock issued as an equity award rather than restricted stock or derivative securities.

Under which plan were the new Pangaea Logistics (PANL) shares issued to Eric Rosenfeld?

The new shares were issued under the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan. The filing adds that this plan was amended and restated by the board of directors on May 7, 2024, governing the reported equity grant.

Was Eric Rosenfeld’s Pangaea Logistics (PANL) transaction a purchase or an award?

The transaction was an equity award, not an open-market purchase. The Form 4 classifies it as a grant or other acquisition of 14,151 unrestricted common shares under the company’s 2024 Share Incentive Plan.