Daniel C. Kleine
About Daniel C. Kleine
Daniel C. Kleine is Senior Vice President of Finance and Treasurer at PAMT and serves as the company’s principal accounting and financial officer, signing SOX 302 and 906 certifications on the Q3 2025 Form 10‑Q . He entered into his employment agreement effective August 11, 2025, with PAMT’s operating subsidiary P.A.M. Transport, Inc. . As of his Form 3 filing on August 21, 2025, he beneficially owned 1,785 PAMT shares . Company performance context: net income moved from $90.7M in 2022 to $18.4M in 2023, then a ($31.8)M net loss in 2024, while the three‑year TSR value per $100 fell from 73 (2022) to 46 (2024) .
Company Performance (context)
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Net (Loss) Income ($USD thousands) | 90,672 | 18,416 | (31,795) |
| Value of $100 Investment (TSR) | 73 | 59 | 46 |
Past Roles
No prior roles, education, or age disclosures for Daniel C. Kleine were found in the DEF 14A (which listed executive officers for 2024 as Joseph A. Vitiritto and Lance K. Stewart) or the September 10, 2025 8‑K and attached employment agreement .
External Roles
No external directorships or board roles for Daniel C. Kleine were disclosed in the filings reviewed .
Fixed Compensation
| Component | Detail |
|---|---|
| Base Salary | $240,240 annually for SVP Finance & Treasurer |
| Bonus Eligibility | Reviewed annually; eligibility for a performance bonus, specifics not disclosed |
| Benefits | Eligible for fringe benefits per company policy |
| Expense Reimbursement | Reasonable and necessary business expenses reimbursed per policy |
Performance Compensation
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Annual Performance Bonus | Not disclosed | Not disclosed | Not disclosed | Not disclosed | Not disclosed |
- PAMT’s proxy notes executive compensation historically uses operating income targets for incentive plans (used in 2022), but no current performance metric framework was disclosed for Kleine’s role; the company did not adopt a metric‑based plan for 2023–2024 and instead used discretionary bonuses for named executives (CEO/CFO) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total Beneficial Ownership | 1,785 shares (direct) |
| Ownership as % of Shares Outstanding | ~0.008% (1,785 / 21,790,658 shares outstanding as of April 9, 2025) |
| Vested vs. Unvested Shares | Not disclosed for Kleine; outstanding award tables cover named executives only |
| Options (Exercisable/Unexercisable) | Not disclosed for Kleine (no options disclosed for executive officers in 2022–2024) |
| Shares Pledged as Collateral | Not disclosed |
| Stock Ownership Guidelines | PAMT has no stock ownership requirements for executive officers |
| Hedging/Pledging Policy | PAMT policy discourages put/call option hedging; insider trading policy in place |
Employment Terms
| Term | Provision |
|---|---|
| Start Date | Employment agreement effective August 11, 2025 |
| Role | Senior Vice President of Finance and Treasurer; principal accounting and financial officer |
| Contract Nature | Employment agreement; at‑will with specified termination terms |
| Base Salary | $240,240 annually |
| Severance (Without “Just Cause”) | Base salary for 4 months, contingent on signing separation agreement |
| Voluntary Resignation | 4 months prior written notice; company may terminate immediately upon notice and pay 4 months’ base salary; liquidated damages equal to 4 months of weekly salary if notice not given |
| Disability | Base compensation for 3 months after date of disability; residual bonus earned but not yet paid |
| Death | Base salary through date of death; residual bonus earned but not yet paid |
| Non‑Compete | 4 months post‑termination; may be extended to up to 1 year (if extended, base salary continues for that period) |
| Non‑Solicit (Business & Employees) | 24 months post‑termination |
| Confidentiality | Required under agreement |
| Change‑of‑Control | No change‑of‑control benefits disclosed in the Kleine Employment Agreement |
| Administrative Details | Notices to PAMT Corp HQ; resignation from any offices upon termination |
Compensation Structure Analysis
- Controlled company governance: PAMT is a NASDAQ “controlled company” with majority voting power held by Moroun family trusts, exempting PAMT from standard independence requirements; the Compensation Committee comprises the Chairman (Matthew T. Moroun) and CEO (Lance K. Stewart) .
- Lack of formal ownership requirements and minimal perquisites reduce forced alignment but also limit governance constraints; company explicitly has no executive stock ownership requirements and provides minimal perquisites .
- No change‑of‑control payments disclosed for executives (per proxy) and none in Kleine’s agreement, limiting golden parachute risk .
- Company insider trading and derivative trading policy discourages hedging via options (alignment positive) .
Related Party & Governance Context (Company‑level)
- Extensive related‑party transactions with Moroun‑affiliated entities in insurance, equipment, real estate, parts, and services; Audit Committee reviews/approves such transactions .
- Say‑on‑pay support was high: >90% approval and >99% of votes cast in favor at 2023 meeting; next vote in 2026 .
Investment Implications
- Alignment: Kleine’s pay structure centers on fixed base salary with limited severance (4 months) and strong post‑termination restrictive covenants (non‑compete up to 1 year with salary continuation; non‑solicit 24 months), indicating retention and continuity emphasis but modest downside protection relative to typical CFO‑level contracts .
- Selling pressure: Small direct equity stake (1,785 shares) and absence of disclosed equity awards reduces near‑term insider selling pressure; no pledging disclosed .
- Governance overlay: Controlled company status and a Compensation Committee led by the Chairman and CEO can dampen pay‑for‑performance rigor and independent oversight, raising governance risk considerations for incentive calibration .
- Compliance/execution: As principal accounting and financial officer signing SOX certifications, Kleine’s role is tied to controls and reporting quality—a lever for investor confidence amid recent loss year (2024) and variable TSR, though his tenure began in August 2025 .