Pangaea Logistics Solutions Management

Management criteria checks 3/4

Pangaea Logistics Solutions' CEO is Mark Filanowski, appointed in Sep 2021, has a tenure of 3.17 years. total yearly compensation is $1.44M, comprised of 31.3% salary and 68.7% bonuses, including company stock and options. directly owns 0.99% of the company’s shares, worth €2.61M. The average tenure of the management team and the board of directors is 5.4 years and 10.1 years respectively.

Key information

Mark Filanowski

Chief executive officer

US$1.4m

Total compensation

CEO salary percentage	31.3%
CEO tenure	3.2yrs
CEO ownership	1.0%
Management average tenure	5.4yrs
Board average tenure	10.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Mark Filanowski's remuneration changed compared to Pangaea Logistics Solutions's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$22m
Jun 30 2024	n/a	n/a	US$35m
Mar 31 2024	n/a	n/a	US$35m
Dec 31 2023	US$1m	US$450k	US$26m
Sep 30 2023	n/a	n/a	US$41m
Jun 30 2023	n/a	n/a	US$41m
Mar 31 2023	n/a	n/a	US$63m
Dec 31 2022	US$2m	US$250k	US$79m
Sep 30 2022	n/a	n/a	US$79m
Jun 30 2022	n/a	n/a	US$87m
Mar 31 2022	n/a	n/a	US$82m
Dec 31 2021	US$1m	US$200k	US$67m
Sep 30 2021	n/a	n/a	US$60m
Jun 30 2021	n/a	n/a	US$40m
Mar 31 2021	n/a	n/a	US$24m
Dec 31 2020	US$529k	US$200k	US$11m
Sep 30 2020	n/a	n/a	-US$637k
Jun 30 2020	n/a	n/a	US$133k
Mar 31 2020	n/a	n/a	US$1m
Dec 31 2019	US$606k	US$200k	US$12m
Sep 30 2019	n/a	n/a	US$15m
Jun 30 2019	n/a	n/a	US$15m
Mar 31 2019	n/a	n/a	US$17m
Dec 31 2018	US$556k	US$200k	US$18m
Sep 30 2018	n/a	n/a	US$22m
Jun 30 2018	n/a	n/a	US$21m
Mar 31 2018	n/a	n/a	US$11m
Dec 31 2017	US$456k	US$200k	US$8m

Compensation vs Market: Mark's total compensation ($USD1.44M) is above average for companies of similar size in the German market ($USD782.05K).

Compensation vs Earnings: Mark's compensation has been consistent with company performance over the past year.

CEO

Mark Filanowski (70 yo)

3.2yrs

Tenure

US$1,436,452

Compensation

Mr. Mark L. Filanowski has been Chief Executive Officer at Pangaea Logistics Solutions, Ltd. since December 14, 2021 and its Director since October 1, 2014. He was the Chief Operating Officer of Pangaea Lo...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Mark Filanowski	CEO & Director	3.2yrs	US$1.44m	0.99% € 2.6m
Gianni Del Signore	CFO & Secretary	7.6yrs	US$802.08k	0.77% € 2.0m
Mads Rosenberg Petersen	Chief Operating Officer	2.6yrs	US$957.59k	1.39% € 3.7m
Carl Boggild	Lead Independent Director	10.6yrs	US$182.50k	17.79% € 47.0m

5.4yrs

Average Tenure

67yo

Average Age

Experienced Management: PGA's management team is seasoned and experienced (5.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Mark Filanowski	CEO & Director	10.1yrs	US$1.44m	0.99% € 2.6m
Carl Boggild	Lead Independent Director	7.8yrs	US$182.50k	17.79% € 47.0m
Eric Rosenfeld	Independent Director	10.8yrs	US$197.50k	1.28% € 3.4m
Richard du Moulin	Independent Chairman	10.1yrs	US$197.50k	0.52% € 1.4m
David Sgro	Independent Director	10.1yrs	US$197.50k	0.69% € 1.8m
Anthony Laura	Independent Director	9.2yrs	US$182.50k	2.97% € 7.8m
Karen Beachy	Independent Director	2.7yrs	US$190.00k	0.095% € 251.4k

10.1yrs

Average Tenure

67yo

Average Age

Experienced Board: PGA's board of directors are seasoned and experienced ( 10.1 years average tenure).

Pangaea Logistics Solutions Management

Management criteria checks 3/4

Key information

Recent management updates

Pangaea Logistics Solutions, Ltd., Annual General Meeting, Aug 08, 2024

Pangaea Logistics Solutions, Ltd., Annual General Meeting, Aug 07, 2023

Insufficient new directors

Pangaea Logistics Solutions, Ltd., Annual General Meeting, Aug 05, 2022

Insufficient new directors

Pangaea Logistics Solutions Appoints Karen H. Beachy to its Board of Directors

Recent updates

Third quarter dividend of US$0.10 announced

New minor risk - Profit margin trend

Third quarter 2024 earnings released: EPS: US$0.11 (vs US$0.42 in 3Q 2023)

Pangaea Logistics Solutions, Ltd. Declares A Quarterly Cash Dividend, Payable on December 13, 2024

Pangaea Logistics Solutions, Ltd. to Report Q3, 2024 Results on Nov 12, 2024

Pangaea Logistics Solutions, Ltd. (NasdaqCM:PANL) agreed to acquire remaining 50% stake in Nordic Bulk Partners LLC from HS Nordic LLC for $17.2 million.

Now 20% undervalued after recent price drop

Second quarter dividend of US$0.10 announced

Second quarter 2024 earnings released: EPS: US$0.081 (vs US$0.064 in 2Q 2023)

Pangaea Logistics Solutions, Ltd. Declares Quarterly Cash Dividend, Payable on September 16, 2024

Pangaea Logistics Solutions, Ltd. to Report Q2, 2024 Results on Aug 08, 2024

Pangaea Logistics Solutions, Ltd., Annual General Meeting, Aug 08, 2024

First quarter dividend of US$0.10 announced

Pangaea Logistics Solutions, Ltd. Declares Quarterly Cash Dividend, Payable on June 13, 2024

First quarter 2024 earnings released: EPS: US$0.26 (vs US$0.078 in 1Q 2023)

Pangaea Logistics Solutions, Ltd. to Report Q1, 2024 Results on May 09, 2024

Investor sentiment deteriorates as stock falls 16%

Pangaea Logistics Solutions, Ltd. has filed a Follow-on Equity Offering in the amount of $25 million.

Pangaea Logistics Solutions, Ltd. has filed a Follow-on Equity Offering in the amount of $25 million.

Full year 2023 earnings released: EPS: US$0.59 (vs US$1.79 in FY 2022)

Pangaea Logistics Solutions, Ltd. to Report Q4, 2023 Results on Mar 13, 2024

Third quarter dividend of US$0.10 announced

Pangaea Logistics Solutions Ltd. Declares Quarterly Cash Dividend, Payable on March 15, 2024

Investor sentiment improves as stock rises 17%

Upcoming dividend of US$0.10 per share at 5.7% yield

Investor sentiment improves as stock rises 16%

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.42 (vs US$0.42 in 3Q 2022)

Pangaea Logistics Solutions, Ltd. Declares Quarterly Cash Dividend, Payable on December 15, 2023

Pangaea Logistics Solutions, Ltd. to Report Q3, 2023 Results on Nov 08, 2023

Upcoming dividend of US$0.10 per share at 7.0% yield

New minor risk - Share price stability

Now 28% undervalued after recent price drop

Second quarter 2023 earnings released: EPS: US$0.064 (vs US$0.56 in 2Q 2022)

Pangaea Logistics Solutions, Ltd. Declares Quarterly Cash Dividend, Payable on September 15, 2023

Pangaea Logistics Solutions, Ltd. to Report Q2, 2023 Results on Aug 09, 2023

Pangaea Logistics Solutions, Ltd., Annual General Meeting, Aug 07, 2023

Pangaea Logistics Solutions, Ltd. acquired Marine port terminal operations in Port Everglades/Ft. Lauderdale and Port of Palm Beach, Florida from Host Terminals, Inc. for $7.2 million.

Upcoming dividend of US$0.10 per share at 6.8% yield

First quarter 2023 earnings released: EPS: US$0.078 (vs US$0.45 in 1Q 2022)

Pangaea Logistics Solutions, Ltd. Declares Quarterly Dividend, Payable on June 15, 2023

Pangaea Logistics Solutions, Ltd. to Report Q1, 2023 Results on May 10, 2023

Investor sentiment improves as stock rises 16%

Now 20% undervalued

Full year 2022 earnings released: EPS: US$1.79 (vs US$1.53 in FY 2021)

Investor sentiment improves as stock rises 15%

Upcoming dividend of US$0.10 per share at 6.5% yield

Pangaea Logistics Solutions, Ltd. Announces Quarterly Cash Dividend, Payable on March 15, 2023

Upcoming dividend of US$0.10 per share

Insufficient new directors

Third quarter 2022 earnings released: EPS: US$0.42 (vs US$0.61 in 3Q 2021)

Pangaea Logistics Solutions, Ltd. Declares Quarterly Cash Dividend, Payable on December 15, 2022

Pangaea Logistics Solutions, Ltd. to Report Q3, 2022 Results on Nov 09, 2022

Upcoming dividend of US$0.075 per share

Second quarter 2022 earnings released: EPS: US$0.56 (vs US$0.44 in 2Q 2021)

Pangaea Logistics Solutions, Ltd. Declares Quarterly Cash Dividend, Payable on September 15, 2022

Pangaea Logistics Solutions, Ltd. to Report Q2, 2022 Results on Aug 09, 2022

Pangaea Logistics Solutions, Ltd., Annual General Meeting, Aug 05, 2022

Upcoming dividend of US$0.075 per share

Investor sentiment improved over the past week

First quarter 2022 earnings released: EPS: US$0.45 (vs US$0.13 in 1Q 2021)

Pangaea Logistics Solutions, Ltd. Reports Impairment of Vessels for the Three Months Ended March 31, 2022

Pangaea Logistics Solutions, Ltd. to Report Q1, 2022 Results on May 10, 2022

Insufficient new directors

Investor sentiment deteriorated over the past week

Pangaea Logistics Solutions Appoints Karen H. Beachy to its Board of Directors

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Pangaea Logistics Solutions, Ltd. Announces Appointment of New COO Mads Boye Petersen

Upcoming dividend of US$0.05 per share