P.A.M. Adds McLarty To Board, Authorizes Stock Repurchase Plan

by Talk Business & Politics staff ([email protected]) 112 views 

P.A.M. Transportation Services, Inc. has appointed Franklin McLarty to the company’s board of directors and he will serve on its audit committee.

McLarty, currently President and CEO of RML Automotive, one of the nation’s largest automotive retailers, is also Senior Vice President and a board member of the McLarty Companies, a fourth-generation family transportation business.

“Franklin brings a wealth of financial and transportation-related experience to P.A.M.’s board. He will provide tremendous insight and a new perspective. We are pleased to have him,” said Matthew T. Moroun, chairman of the board for P.A.M. Transportation.

P.A.M.’s board of directors also authorized a new stock repurchase program to allow the company to purchase up to 500,000 shares of its common stock.

The company’s shares (NASDAQ: PTSI) closed trading on Wednesday at $26.28. P.A.M. Transportation’s stock has traded between $9.71 per share and $27.16 per share in the past year.

Tontitown, Arkansas-based P.A.M. Transportation Services, Inc. is a dry van truckload carrier transporting general commodities throughout the continental United States, Canada and Mexico.