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DelSignore Gianni reported acquisition or exercise transactions in this Form 4 filing.
Pangaea Logistics Solutions Ltd. Chief Financial Officer Gianni DelSignore reported two stock awards of common shares. On March 25, 2026, he was granted 12,794 restricted shares that vest in equal annual installments over three years, subject to continued service, and a further 12,794 performance-based restricted shares at target, with the actual number earned ranging from 0% to 150% of that target based on specified performance criteria. Following these compensation awards, he directly holds 404,256 common shares.
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.
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.
Pangaea Logistics Solutions Ltd. Chief Executive Officer Mads Rosenber Boye sold 19,572 common shares in an open-market transaction. The shares were sold on March 18, 2026 at a weighted average price of $7.063 per share, according to the filing footnote.
After this sale, Boye directly holds 680,016 common shares. The transaction represents a relatively small portion of his reported direct ownership and does not involve any derivative securities, as no options or similar instruments are listed as exercised or remaining in this filing.
Pangaea Logistics Solutions Ltd. issued 65,906 common shares upon vesting of restricted stock units. The RSUs vested on 03/16/2026 and were delivered with no cash consideration under the company’s equity incentive plan. The filing records the issuance and the related Rule 144 notice context.
Pangaea Logistics Solutions Ltd. issued 54,741 common shares on 03/16/2026 upon vesting of restricted stock units under its equity incentive plan; there was No cash consideration. The entry lists these as common shares for NASDAQ-listed common stock.
Pangaea Logistics Solutions Ltd. provides drybulk shipping, logistics, and terminal services worldwide, focusing on Handymax to Post-Panamax vessels and niche ice-class trades. It moved about 26.2 million tons of cargo in 2025, averaging 64 vessels in service per day, and owned interests in 39 vessels as of December 31, 2025.
The company emphasizes contracts of affreightment, voyage and time charters, active risk management using short-term charter-ins, fuel and freight hedging, and backhaul-focused routing to improve utilization. It highlights competitive strengths in high ice class operations, customized logistics, strong industrial customer relationships, and in-house technical management.
Pangaea details extensive environmental, safety, and labor regulation affecting its fleet, along with its ESG initiatives such as younger, more fuel-efficient ships, SEEMP plans, ballast water treatment, and compliance with IMO, U.S., EU and other regimes. Governance updates include a new CEO, additional directors, and the engagement of Deloitte & Touche LLP as auditor. As of March 13, 2026, 65,318,647 common shares were outstanding.
Pangaea Logistics Solutions Ltd. reported solid fourth quarter 2025 results, with total revenue of $183.9 million and GAAP net income of $11.9 million, or $0.19 per share. Adjusted net income was $10.1 million, or $0.16 per share, and adjusted EBITDA reached $28.7 million, up 23% year over year.
The company’s time charter equivalent rate was $17,773 per day, 19% above benchmark Baltic indices, supported by its specialized fleet and long-term contracts. Operating cash flow was $15.1 million and year-end cash and cash equivalents totaled $103.1 million against total debt and finance leases of $375.6 million.
The board declared a quarterly cash dividend of $0.05 per share and continued capital returns through $1.0 million of share repurchases in the quarter. Strategically, Pangaea is renewing its fleet, including an agreement to sell the 2006-built Bulk Xaymaca for $9.6 million, and expanding terminal operations in multiple U.S. ports to support integrated logistics growth.
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.
Leand Paul M. Jr. reported acquisition or exercise transactions in this Form 4 filing.
Pangaea Logistics Solutions Ltd. director Paul M. Leand Jr. received a grant of 14,151 common shares. The award was recorded on February 18, 2026 at a reported price of $8.48 per share, and his directly owned stake after the grant totals 14,151 shares.