SEC Form 4/A · accession 0001065096-15-000011
Pangaea Logistics Solutions Ltd. · PANL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Peter Yu
Director
Period of report
May 8, 2015
Accepted (ET)
May 12, 2015 · 4:30 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001606909
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, Par Value $0.0001 per share | May 8, 2015 | A | 10,000 | $0.00 | A | 20,000 | D | |
| Common Stock, Par Value $0.0001 per shareF2,F3 | Oct 1, 2014 | A | 13,916,467 | $0.00 | A | 13,916,467 | I | See Footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares are subject to a Restricted Share Grant Notice and Agreement and were issued pursuant to the 2014 Share Incentive Plan. Fifty percent of the shares vest on the first anniversary of the date of grant, with the remaining fifty percent to vest on the second anniversary of the date of grant, subject to accelerated vesting in certain circumstances.
- F2Shares are held directly or indirectly by Pangaea One, L.P., a Delaware limited partnership ("Pangaea One"), Pangaea One Parallel Fund (B), L.P., a Delaware limited partnership ("Pangaea Parallel (B)"), Pangaea One GP, LLC, a Delaware limited liability company ("Pangaea LLC"), Pangaea One (Cayman), L.P., a Cayman Islands limited partnership ("Pangaea Cayman"), Pangaea One GP (Cayman), L.P., a Cayman Islands limited partnership ("PGP LP"), Pangaea One GP (Cayman), Co., a Cayman Islands company ("PGP Co"), Pangaea One Parallel Fund, L.P., a Cayman Islands limited partnership ("Pangaea Parallel"), Pangaea One GP2 (Cayman), L.P., a Cayman Islands limited partnership ("PGP2 LP"), Pangaea One GP2 (Cayman), Co., a Cayman Islands Company ("PGP2 Co"), Pangaea One Holding, LLC, a Delaware limited liability company ("Pangaea One LLC") and Cartesian Capital Group Holding, LLC, a Delaware limited liability company ("Cartesian," and collectively, the "Pangaea Entities").
- F3Peter Yu is a managing member or director of each of Cartesian, Pangaea One LLC, PGP Co and PGP2 Co. As such, Mr. Yu may be deemed to have an indirect pecuniary interest (within the meaning of Rule 16a-1 under the Securities Exchange Act of 1934 (as amended, the "Exchange Act")) in an indeterminate portion of the securities beneficially owned by the Pangaea Entities. Mr. Yu disclaims beneficial ownership of all such securities, except to the extent of any direct pecuniary interest therein and this report shall not be deemed an admission that Mr. Yu is the beneficial owner of such securities for purposes of Section 16 of the Exchange Act or any other purpose.