Sgro David 4

What Happened
David Sgro, a director of Pangaea Logistics Solutions Ltd. (PANL), received an award of 14,151 common shares on February 18, 2026. The shares were issued at an effective price of $8.48 per share, for a total value of approximately $120,000. This was an issuance/award under the company’s equity incentive program (an acquisition of shares rather than a market purchase or sale).

Key Details

• Transaction date and price: 2026-02-18; 14,151 shares at $8.48 per share (total ≈ $120,000).
• Shares owned after transaction: Not stated in the provided filing excerpt.
• Footnote: Shares were issued pursuant to the Pangaea Logistics Solutions Ltd. 2024 Share Incentive Plan (as amended and restated May 7, 2024).
• Filing timeliness: Form 4 was filed 2026-02-20 for a 2026-02-18 transaction; this appears to meet the usual two-business-day reporting requirement (no late filing indicated).

Context
This was a grant under the company's share incentive plan, a common form of director compensation. Such awards represent company-issued compensation rather than an open-market purchase (so they are not a straightforward bullish signal). No sale or cashless exercise was reported—just the issuance of shares to the director.