Tontitown-based carrier P.A.M. Transportation Services has a new board member. Edwin J. Lukas has been selected to serve on the company’s board of directors, according to a Monday (Nov. 5) filing with the U.S. Securities and Exchange Commission.
The company’s board of directors elected Lukas to the board Oct. 31. Lukas will serve in the role until the company’s 2019 annual shareholders meeting and is not expected to be appointed to any board committees.
Since January 2016, Lukas, who is 51, has served as vice president of Warren, Mich.-based CenTra Inc., parent company of less-than-truckload carrier Central Transport. CenTra is controlled by Matthew Moroun, the chairman of the board and controlling stockholder for P.A.M., the filing shows.
Before he joined CenTra, Lukas was a partner at Detroit-based law firm Bodman PLC. At the 150-attorney firm, he focused on corporate law, mergers and acquisitions and securities compliance matters. Previously, he was chairman of the Business Law Section of the State Bar of Michigan. Lukas has represented public and private companies in various industries, and his experience includes corporate law, corporate finance, capital markets transactions, mergers and acquisitions, and securities compliance matters.
Moroun owns 63.22% of P.A.M. shares, including the 3.092 million shares in trust, for a total of 3.904 million shares, according to the company’s proxy statement filed March 20.
P.A.M.’s net income rose 168.4% to $9.248 million and revenue increased 28.9% to $140.325 million in the third quarter that ended Sept. 30, from the same period in 2017.
Shares of P.A.M. (NASDAQ: PTSI) were trading at $58.85, down 88 cents, or 1.47%, as of midmorning Monday. In the past 52 weeks, the stock has ranged between $70 and $29.40. The company’s market capitalization, or value of outstanding shares, was $356.293 million.