<SEC-DOCUMENT>0001019687-13-003375.txt : 20130829
<SEC-HEADER>0001019687-13-003375.hdr.sgml : 20130829
<ACCEPTANCE-DATETIME>20130829181442
ACCESSION NUMBER:		0001019687-13-003375
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20130828
FILED AS OF DATE:		20130829
DATE AS OF CHANGE:		20130829

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAM TRANSPORTATION SERVICES INC
		CENTRAL INDEX KEY:			0000798287
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		IRS NUMBER:				710633135
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		297 WEST HENRI DE TONTI BLVD
		CITY:			TONTITOWN
		STATE:			AR
		ZIP:			72770
		BUSINESS PHONE:		4793619111

	MAIL ADDRESS:	
		STREET 1:		297 WEST HENRI DE TONTI BLVD
		CITY:			TONTITOWN
		STATE:			AR
		ZIP:			72770

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STEWART LANCE
		CENTRAL INDEX KEY:			0001510697

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15057
		FILM NUMBER:		131070286

	MAIL ADDRESS:	
		STREET 1:		POST OFFICE BOX 188
		CITY:			TONTITOWN
		STATE:			AR
		ZIP:			72770
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>stewart_frm4-082813.xml
<DESCRIPTION>FORM 4
<TEXT>
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<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2013-08-28</periodOfReport>

    <notSubjectToSection16>1</notSubjectToSection16>

    <issuer>
        <issuerCik>0000798287</issuerCik>
        <issuerName>PAM TRANSPORTATION SERVICES INC</issuerName>
        <issuerTradingSymbol>PTSI</issuerTradingSymbol>
    </issuer>

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        <reportingOwnerId>
            <rptOwnerCik>0001510697</rptOwnerCik>
            <rptOwnerName>STEWART LANCE</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>POST OFFICE BOX 188</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>TONTITOWN</rptOwnerCity>
            <rptOwnerState>AR</rptOwnerState>
            <rptOwnerZipCode>72770</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>FORMER CHIEF FINANCIAL OFFICER</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>STOCK OPTION (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.22</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2012-07-27</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
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                <footnoteId id="F1"/>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>83.5</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2012-07-27</value>
            </exerciseDate>
            <expirationDate>
                <value>2020-11-30</value>
            </expirationDate>
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                <underlyingSecurityTitle>
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                    <value>83.5</value>
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            <transactionDate>
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            <deemedExecutionDate></deemedExecutionDate>
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                <footnoteId id="F1"/>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
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                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2013-07-27</value>
            </exerciseDate>
            <expirationDate>
                <value>2020-11-30</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
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                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>167</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>STOCK OPTION (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
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            </conversionOrExercisePrice>
            <transactionDate>
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            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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            <transactionTimeliness></transactionTimeliness>
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                </transactionShares>
                <transactionPricePerShare>
                    <value>1.28</value>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F1"/>
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            <expirationDate>
                <value>2020-11-30</value>
            </expirationDate>
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                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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                <value>11.22</value>
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            <transactionDate>
                <value>2013-08-28</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>H</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F2"/>
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            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>7500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>1.28</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F2"/>
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            <expirationDate>
                <value>2020-11-30</value>
            </expirationDate>
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                <underlyingSecurityShares>
                    <value>7500</value>
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            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>STOCK OPTION (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>10.90</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2013-08-28</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>H</transactionCode>
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            <transactionTimeliness></transactionTimeliness>
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                    <value>15000</value>
                </transactionShares>
                <transactionPricePerShare>
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                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
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                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F3"/>
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            <expirationDate>
                <value>2022-05-24</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
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            <postTransactionAmounts>
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                    <value>0</value>
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    <footnotes>
        <footnote id="F1">On November 30, 2010, the reporting person was granted an option for 6,400 shares to vest based on the satisfaction of certain quarterly and annual performance criteria by P.A.M. Transportation Services, Inc. (the &quot;Company&quot;) for each quarter in 2011 and for the year ended 2011. The earned shares became exercisable in five equal annual installments beginning on the first anniversary of the date of the Company's earnings release in which the applicable performance criteria were met. The performance criteria for the second quarter of 2011 were met, resulting in the vesting of 83.5 shares on July 27, 2012, and 83.5 shares on July 27, 2013. The option was canceled on August 28, 2013 by mutual agreement of the reporting person and the Company. The reporting person received $213.76 as consideration for the cancellation, representing a value of $12.50 per share for the 167 vested shares under the option, less the exercise price of $11.22 per vested share.</footnote>
        <footnote id="F2">On November 30, 2010, the reporting person was granted an option for 7,500 shares to vest in five equal annual installments beginning on November 30, 2011. The option was canceled on August 28, 2013 by mutual agreement of the reporting person and the Company. The reporting person received $3,840.00 as consideration for the cancellation, representing a value of $12.50 per share for the 3,000 vested shares under the option, less the exercise price of $11.22 per vested share.</footnote>
        <footnote id="F3">On May 24, 2012, the reporting person was granted an option for 15,000 shares to vest in five equal annual installments beginning on May 24, 2013. The option was canceled on August 28, 2013 by mutual agreement of the reporting person and the Company. The reporting person received $4,800.00 as consideration for the cancellation, representing a value of $12.50 per share for the 3,000 vested shares under the option, less the exercise price of $10.90 per vested share.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ C. Douglas Buford, Jr. as Attorney-in-fact for Lance Stewart</signatureName>
        <signatureDate>2013-08-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
