<SEC-DOCUMENT>0001019687-14-002285.txt : 20140623
<SEC-HEADER>0001019687-14-002285.hdr.sgml : 20140623
<ACCEPTANCE-DATETIME>20140604170216
ACCESSION NUMBER:		0001019687-14-002285
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20140529
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140604
DATE AS OF CHANGE:		20140604

FILER:

	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

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15057
		FILM NUMBER:		14891593

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pam_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>________________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of The
Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of report (Date of earliest event
reported): <U>May 29, 2014</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>________________________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 106px; width: 310px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>P.A.M. TRANSPORTATION SERVICES, INC.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant
as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><u>Delaware</u></font></td>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><u>0-15057</u></font></td>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt"><u>71-0633135</u></font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(State or other jurisdiction of&nbsp;&nbsp;incorporation)</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(Commission File Number)</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(I.R.S. Employer Identification No.)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>297 West Henri De Tonti, Tontitown, Arkansas
72770</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: <U>(479) 361-9111</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="width: 78%; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">N/A</font></td>
    <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">(Former name or former address, if changed since last report)</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">&nbsp;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Wingdings">o</font></td>
    <td style="width: 97%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Wingdings">o</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Wingdings">o</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font: 10pt Wingdings">o</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr>
</table>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 11%; text-align: left; vertical-align: top"><font style="font-size: 10pt"><b>Item 5.02</b></font></td>
    <TD STYLE="width: 89%; text-align: justify"><font style="font-size: 10pt"><b>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 29, 2014, the Board of Directors
(the &ldquo;Board&rdquo;) of P.A.M. Transportation Services, Inc. (the &ldquo;Company&rdquo;) elected Franklin McLarty to serve
as director of the Company. Mr. McLarty fills an existing vacancy on the Board and will serve on the Board until the Company&rsquo;s
2015 Annual Meeting of Stockholders, and until such time as his successor is duly elected and qualified, or until his earlier resignation
or removal. Mr. McLarty has been appointed to serve on the Audit Committee. A copy of a news release announcing Mr. McLarty&rsquo;s
appointment to the Board is attached as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the Board meeting on May 29, 2014, the
Board approved an increase in the base salary for Daniel H. Cushman, our President and Chief Executive Officer, to $470,000 and
for Allen W. West, our Vice President of Finance, Chief Financial Officer, Secretary and Treasurer, to $250,000, effective immediately.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 29, 2014, the Board also approved
a short-term cash incentive plan (the &ldquo;Plan&rdquo;) for the Company&rsquo;s named executive officers and certain other employees
providing for cash bonus awards to be determined based on the achievement of certain operating ratio and revenue growth performance
targets as of the end of the applicable bonus year. The amount of the bonus can vary from zero to 120% of base salary. Under the
Plan, an eligible employee will receive a bonus ranging from 20% to 100% of base salary if the Company&rsquo;s operating ratio
for the applicable bonus year is less than 97%. Additionally, if the Company&rsquo;s revenue growth during the applicable bonus
year is 5% or more, the employee will receive a bonus ranging from 5% to 20% of base salary in addition to any bonus received based
on the operating ratio. The maximum bonus under the Plan of 120% of the employee&rsquo;s base salary is earned if the Company&rsquo;s
operating ratio is less than 93% and revenue growth is at least 20% in the applicable bonus year. For purposes of the Plan, operating
ratio will be determined based on the same methodology used in calculating operating ratio as reported in Item 6 &ldquo;Selected
Financial Data&rdquo; of the Company&rsquo;s Annual Report on Form 10-K, except that operating expenses will be reduced by any
employee bonuses paid or accrued during the year. Revenue growth will be calculated by subtracting the prior year operating revenue
(excluding fuel surcharge) from the current year operating revenue (excluding fuel surcharge) and dividing the difference by the
prior year operating revenue (excluding fuel surcharge). Base salary will be the salary in effect at the end of the applicable
bonus year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top; width: 11%"><font style="font-size: 10pt"><b>Item 5.07</b></font></td>
    <TD STYLE="text-align: justify; width: 89%"><font style="font-size: 10pt"><b>Submission of Matters to a Vote of Security Holders.</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 29, 2014, the Annual Meeting of
Stockholders of the Company was held, at which meeting seven directors were elected to serve as the Board until the next Annual
Meeting of Stockholders, and certain other proposals, as described below, were approved by the Company&rsquo;s stockholders. Final
vote tabulations are indicated below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&#9;Election of seven director nominees to serve until the date of the next Annual Meeting of Stockholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <TD STYLE="vertical-align: top; width: 32%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Votes
        For</b></P></td>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Votes
        Withheld</b></P></td>
    <TD STYLE="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Broker</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Non-Votes</b></P></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Frederick P. Calderone</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">5,362,731</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">1,872,413</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Daniel H. Cushman</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">5,351,462</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">1,883,682</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">W. Scott Davis </font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">7,156,003</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">79,141</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Norman E. Harned</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">7,175,913</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">59,231</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Manuel J. Moroun </font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">5,362,731</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">1,872,413</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Matthew T. Moroun </font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">5,348,519</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">1,886,625</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(238,238,238)">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt">Daniel C. Sullivan</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">7,156,003</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">79,141</font></td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&#9;Proposal to approve on an advisory
basis, the Company&rsquo;s compensation of its executive officers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <td style="vertical-align: bottom; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><b>Votes
        For</b></P></td>
    <td style="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Votes
        Against</b></P></td>
    <td style="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Abstentions</b></P></td>
    <td style="vertical-align: top; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Broker
        Non-Votes</b></P></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">7,158,601</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">24,793</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">51,750</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&#9;Proposal to approve the Company&rsquo;s
2014 Amended and Restated Stock Option and Incentive Plan, including the material terms of the performance goals under such plan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <td style="vertical-align: bottom; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><b>Votes
        For</b></P></td>
    <td style="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Votes
        Against</b></P></td>
    <td style="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Abstentions</b></P></td>
    <td style="vertical-align: top; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Broker
        Non-Votes</b></P></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">7,122,204</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">61,308</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">1,632</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">467,946</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">(4)&#9;Proposal
to ratify Grant Thornton LLP as the Company&rsquo;s independent registered public accounting firm for 2014: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr>
    <td style="vertical-align: bottom; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid"><b>Votes
        For</b></P></td>
    <td style="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Votes
        Against</b></P></td>
    <td style="vertical-align: top; width: 4%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Abstentions</b></P></td>
    <td style="vertical-align: top; width: 3%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="vertical-align: bottom; width: 22%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: black 0.5pt solid"><b>Broker
        Non-Votes</b></P></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">7,699,942</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">2,266</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">882</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><font style="font-size: 10pt">0</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Abstentions and broker non-votes were included
in the calculation of the number of shares considered to be represented at the meeting, but were not included as votes cast on
a proposal. Therefore, abstentions and broker non-votes did not have the effect of a vote for or against the proposal and were
not counted in determining the number of votes required for approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top; width: 11%"><font style="font-size: 10pt"><b>Item 8.01</b></font></td>
    <TD STYLE="text-align: justify; width: 89%"><font style="font-size: 10pt"><b>Other Events.</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 29, 2014, the Board authorized a
new repurchase program under which the Company can repurchase up to 500,000 shares of its common stock from time to time through
the open market in accordance with Rule 10b-18 under the Securities Exchange Act of 1934 or in privately negotiated transactions.
On September 23, 2011, the Board previously authorized a repurchase program under which the Company could repurchase up to 500,000
shares of its common stock. As of May 29, 2014, 186,758 shares remained available for purchase under the 2011 purchase program.
The current authorization replaces the 2011 repurchase program. A copy of a news release announcing the new stock repurchase authorization
is attached as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="text-align: left; vertical-align: top; width: 11%"><font style="font-size: 10pt"><b>Item 9.01</b></font></td>
    <TD STYLE="text-align: justify; width: 89%"><font style="font-size: 10pt"><b>Financial Statements and Exhibits.</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">(d) Exhibits. The following exhibits are
furnished with this Report:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">99.1 News release issued
by the Registrant on June 4, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <td style="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="width: 5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="width: 52%; padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><u>P.A.M. TRANSPORTATION SERVICES, INC.</u></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><font style="font-size: 10pt">Date:&nbsp;&nbsp;June 4, 2014</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: right"><font style="font-size: 10pt">By:</font></td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt"><font style="font-size: 10pt"><u>/s/ Daniel H. Cushman</u></font></td></tr>
<tr style="vertical-align: top">
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</td>
    <td style="padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Daniel H. Cushman</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">President and Chief Executive Officer</P></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr>
    <td></td></tr>
</table>


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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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end
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>pam_ex9901.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">Exhibit 99.1</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">FROM: P.A.M. TRANSPORTATION
SERVICES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">P.O. BOX 188</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Tontitown, AR 72770</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Allen W. West</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">(479) 361-9111</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>P.A.M. Transportation
Services, Inc. Announces New Board Member and Stock Buyback Authorization</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Tontitown, Arkansas,
June 4, 2014&hellip;.. P.A.M. Transportation Services, Inc. (NASDAQ: PTSI) (the &ldquo;Company&rdquo;) today announced that Franklin
McLarty has been appointed to the Company&rsquo;s board of directors and will serve on its audit committee. With the addition of
Mr. McLarty, who fills an existing vacancy on the board, the board now consists of eight directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Mr. McLarty is currently
the President and Chief Executive Officer of RML Automotive (formerly RLJ McLarty Landers Automotive Holdings) (&ldquo;RML&rdquo;),
one of the nation&rsquo;s largest automotive retailers. He is also Senior Vice President and a board member of the McLarty Companies,
a fourth-generation family transportation business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&ldquo;Franklin brings
a wealth of financial and transportation-related experience to P.A.M.&rsquo;s board. He will provide tremendous insight and a new
perspective. We are pleased to have him,&rdquo; said Matthew T. Moroun, chairman of the board of the Company.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Prior to joining RML&rsquo;s
predecessor firm, McLarty-Landers LLC, in 2005, Mr. McLarty enjoyed a successful career in hotel oriented private equity, including
as Vice President of McKibbon Hotel Group from 2003 to 2005 and previously as a managing director of Miami, Florida, based hotel
company, Seaway Group. He remains on Seaway Group&rsquo;s advisory board. Mr. McLarty currently serves as a board member to the
Miami-based Tire Group International, LLC, an international wholesale tire distributor. In 2007, he was appointed by Governor Mike
Beebe to the Arkansas Economic Development Commission, and in 2009, he served as Chairman of the commission, making him the youngest
ever chair of the AEDC. He is a board member of the Little Rock Chamber of Commerce, the Little Rock Film Festival and Fifty for
the Future, a group of business leaders committed to attracting and retaining industry in Central Arkansas. He received a Bachelor
of Arts from the University of Richmond and a Masters of Business Administration from the University of Miami.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">On May 29, 2014, the
Company&rsquo;s board of directors also authorized a new stock repurchase program under which the Company may purchase up to 500,000
shares of the Company&rsquo;s common stock from time to time through the open market in accordance with Rule 10b-18 under the Securities
Exchange Act of 1934 or in privately negotiated transactions. The board had previously authorized a repurchase program on September
23, 2011, under which the Company could repurchase up to 500,000 shares of its common stock. As of May 29, 2014, 186,758 shares
remained under the 2011 authorization. The current authorization replaces the 2011 repurchase program.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">P.A.M. Transportation
Services, Inc. is a leading truckload dry van carrier transporting general commodities throughout the continental United States,
as well as in the Canadian provinces of Ontario and Quebec. The Company also provides transportation services in Mexico through
its gateways in Laredo and El Paso, Texas under agreements with Mexican carriers.</P>

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Certain information included in this document contains or may contain &ldquo;forward-looking statements&rdquo; within the meaning
of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to expected future financial
and operating results or events, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties
and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking
statements. Potential risks and uncertainties include, but are not limited to, excess capacity in the trucking industry; surplus
inventories; recessionary economic cycles and downturns in customers' business cycles; increases or rapid fluctuations in fuel
prices, interest rates, fuel taxes, tolls, license and registration fees; the resale value of the Company's used equipment and
the price of new equipment; increases in compensation for and difficulty in attracting and retaining qualified drivers and owner-operators;
increases in insurance premiums and deductible amounts relating to accident, cargo, workers' compensation, health, and other claims;
unanticipated increases in the number or amount of claims for which the Company is self insured; inability of the Company to continue
to secure acceptable financing arrangements; seasonal factors such as harsh weather conditions that increase operating costs; competition
from trucking, rail, and intermodal competitors including reductions in rates resulting from competitive bidding; the ability to
identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; a significant reduction
in or termination of the Company's trucking service by a key customer; and other factors, including risk factors, included from
time to time in filings made by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to
publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light
of these risks and uncertainties, the forward-looking events and circumstances discussed above and in company filings might not
transpire.</P>

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