Divorce Splits CEO?s Holdings
by March 18, 2002 12:00 am 87 views
P.A.M. Transportation Services Inc. CEO Robert Weaver lost a chunk of his company stock holdings in a July divorce from his wife Paula Ruth Weaver, but what’s left is worth more than ever.
The Weavers separated in October 1998 after 25 years of marriage. Paula Weaver retained 266,000 shares of P.A.M. after the proceedings. Robert Weaver owns 340,248 shares, or 3.9 percent of the company’s outstanding shares.
The market has been kind to the Weavers, though. Since the divorce, P.A.M. stock has jumped by about 160 percent, from $9.25 a share on July 6 to $24.05 as of March 13.
Meanwhile, the Tontitown commercial carrier keeps on rolling. P.A.M. reported revenue of $225.8 million for 2001, a 10 percent annual increase. The company netted $10.1 million in earnings, up 16.3 percent from the previous year.
In addition, P.A.M. registered a 3.475 million share stock offering Feb. 20 for debt reduction.