Proficient Auto Logistics (PAL) President Amy Rice Sells Shares for Taxes

What Happened Amy F. Rice, President and COO of Proficient Auto Logistics (PAL), had 21,555 restricted stock units convert into common shares on August 14, 2026 (reported as a derivative conversion, code M). Following the vesting/conversion, she sold 5,808 of those shares in an open-market transaction on August 19, 2026 to satisfy tax withholding obligations, for total proceeds of $32,583 (weighted average price $5.61).

Net effect of the reported transactions: +15,747 shares (21,555 acquired via conversion minus 5,808 sold).

Key Details

• Transactions:
  • 2026-08-14: Conversion of 21,555 RSUs into 21,555 common shares (reported as exercise/conversion, code M) — acquisition price reported $0.00.
  • 2026-08-19: Open-market sale of 5,808 shares at a weighted average price of $5.61, total proceeds $32,583 (price range across multiple trades: $5.54–$5.65).
• Footnotes:
  • F1: The sale of 5,808 shares was solely to satisfy tax withholding on vesting; executed in multiple trades (weighted average shown). The filer will provide trade-by-trade prices on request.
  • F2: The restricted stock units vest in equal installments on August 14 of 2025, 2026 and 2027 and convert 1:1 into common stock.
• Ownership after transaction: Not specified in the filing.
• Timeliness: The filing was made on 2026-08-21 covering events on 2026-08-14 and 2026-08-19. The Aug 14 conversion was reported more than two business days after the event, so that portion appears to have been filed late.

Context

• This is a routine tax-withholding sale following RSU vesting rather than a discretionary "sell to take profits" trade. The conversion (code M) represents RSUs converting into shares; a portion was sold to cover taxes (tax withholding, noted in the filing).
• No 10b5-1 plan, gifts, or other special items were disclosed in the filing.