Boggild Carl Claus 4

What Happened
Carl Boggild (listed as a 10% owner) was granted 14,151 unrestricted common shares of Pangaea Logistics Solutions Ltd. on 2026-02-18. The filing reports the acquisition (Code A) at a per-share value of $8.48, for a total reported value of $120,000. The shares were issued under Pangaea’s 2024 Share Incentive Plan (see footnote F1).

Key Details

• Transaction date: 2026-02-18; Form 4 filed: 2026-02-20 (filed within the normal two-business-day window).
• Transaction type/code: Grant/Award (A) — 14,151 shares acquired at $8.48 per share = $120,000.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 — shares issued pursuant to the 2024 Share Incentive Plan (unrestricted). F2 — notes 8,259,999 common shares were purchased in an unregistered private placement by the Company dated June 15, 2017 (background company note included in the filing).
• No 10b5-1 plan, tax-withholding sale, or immediate sale of these shares is indicated in this filing.

Context
This was a direct grant of unrestricted shares (an award), not an option exercise or open-market trade. As a 10% owner, Boggild is a major shareholder; awards like this are typically compensation or retention-related and do not by themselves indicate near-term buying or selling intentions. The filing appears timely and purely reports the issuance.