CEO Mark Filanowski was paid $1,237,359 in fiscal year 2025, ↓ down 28.8% from fiscal year 2024 (SEC filing 0001628280-26-021725 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$1,237,359 ↓ Mark Filanowski total, FY2025 | — CEO pay percentile vs peers | — CEO-to-median pay ratio | 98.27% Say-on-pay support, latest vote |
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PANL's next annual pay disclosure, estimated March 27, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Mark Filanowski | $600,000 | $603,116 | $0 | $0 | $0 | $0 | $34,243 | $1,237,359 |
| Chief Executive Officer | ||||||||
| Mads Rosenberg Boye Petersen | 450,000 | 337,882 | 330,043 | 0 | 0 | 0 | 34,243 | 1,152,168 |
| Chief Operating Officer | ||||||||
| Gianni Del Signore | 370,000 | 287,394 | 178,092 | 0 | 0 | 0 | 42,729 | 878,215 |
| Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Mark Filanowski | $1,237,359 | $1,739,079 | — | ↓ −501,720 |
| Mads Rosenberg Boye Petersen | 1,152,168 | 1,126,720 | — | ↑ +25,448 |
| Gianni Del Signore | 878,215 | 952,574 | — | ↓ −74,359 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses PANL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named PANL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.
| Executive | Role | FY2025 total |
|---|---|---|
| Gianni Del Signore | CFO | $878,215 |
| Mads Rosenberg Boye Petersen | COO | $1,152,168 |
| Mark Filanowski | CEO | $1,237,359 |
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Anthony Laura | Independent Director | $222,500 |
| Carl Claus Boggild | Independent Director | $222,500 |
| Christina Tan | Former director (through FY2025) | $215,000 |
| David D. Sgro | Independent Director | $237,500 |
| Eric S. Rosenfeld | Independent Director | $237,500 |
| Eugene I. Davis | Independent Director | — |
| Gary Vogel | Independent Director | $222,500 |
| Karen H. Beachy | Independent Director | $237,500 |
| Paul M. Leand Jr | Independent Director | — |
| Richard DuMoulin | Independent Director | $295,000 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Mark Filanowski | RSU | 248,958 | — | $1,712,831 |
| Gianni Del Signore | RSU | 154,225 | — | 1,061,068 |
| Gianni Del Signore | RSU | 151,053 | — | 1,039,245 |
| Mark Filanowski | RSU | 84,615 | — | 582,151 |
| Mark Filanowski | RSU | 81,301 | — | 559,351 |
| Gianni Del Signore | RSU | 60,976 | — | 419,515 |
| Gianni Del Signore | RSU | 50,813 | — | 349,593 |
| Gianni Del Signore | RSU | 49,038 | — | 337,381 |
| Mark Filanowski | RSU | 43,041 | — | 296,122 |
| Gianni Del Signore | RSU | 40,385 | — | 277,849 |
| Gianni Del Signore | RSU | 24,211 | — | 166,572 |
| Mark Filanowski | RSU | 23,334 | — | 160,538 |
| Gianni Del Signore | RSU | 21,521 | — | 148,064 |
| Gianni Del Signore | RSU | 20,000 | — | 137,600 |
| Gianni Del Signore | RSU | 18,334 | — | 126,138 |
| Mark Filanowski | RSU | 16,667 | — | 114,669 |
The primary goal of the Company’s Executive Compensation Program is to attract, retain, and motivate talented individuals capable of fulfilling their responsibilities and guiding the Company toward achieving its strategic objectives. Given the highly cyclical and volatile nature of the industry, the Committee believes the program should maintain flexibility and incorporate a significant emphasis on long-term performance.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Lyons, Benenson & Company, Inc. |
| Clawback policy | true |
| Anti-hedging | false |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-07 | 47,010,138 | 825,844 | 692,203 | 98.27% | Passed |
| 2025 | 2025-05-08 | 50,858,848 | 1,871,813 | 603,339 | 96.45% | Passed |
| 2024 | 2024-08-08 | 33,578,692 | 1,465,417 | 115,098 | 95.82% | Passed |
| 2023 | 2023-08-07 | 28,902,222 | 1,987,684 | 119,258 | 93.57% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-07 | 98.27%a |
| 2025 | 2025-05-08 | 96.45%b |
| 2024 | 2024-08-08 | 95.82%c |
a. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the outcome of the vote.”.
b. Approved under the standard stated in the filing — “Abstentions and broker non-votes will have no effect on the outcome of the vote.”.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Richard DuMoulinIndependent | $175,000 | $120,000 | — | — | — | $295,000 |
| Eric S. RosenfeldIndependent · Compensation · Nominating & Corporate Governance | 117,500 | 120,000 | — | — | — | 237,500 |
| David D. SgroIndependent · Audit (Chair) · Compensation | 117,500 | 120,000 | — | — | — | 237,500 |
| Karen H. BeachyIndependent · Audit · Compensation | 117,500 | 120,000 | — | — | — | 237,500 |
| Carl Claus BoggildIndependent · Nominating & Corporate Governance | 102,500 | 120,000 | — | — | — | 222,500 |
| Gary VogelIndependent · Compensation · Nominating & Corporate Governance · Newly elected | 102,500 | 120,000 | — | — | — | 222,500 |
| Anthony LauraIndependent · Audit | 102,500 | 120,000 | — | — | — | 222,500 |
| Christina TanIndependent · Departed during FY | 95,000 | 120,000 | — | — | — | 215,000 |
| Mads Rosenberg Boye PetersenEmployee director · Newly elected | — | — | — | — | — | 0 |
| Eugene I. DavisIndependent · Compensation · Newly elected | 0 | 0 | — | — | — | 0 |
| Paul M. Leand JrIndependent · Audit · Newly elected | 0 | 0 | — | — | — | 0 |
| Mark L. FilanowskiEmployee director · Departed during FY | — | — | — | — | — | 0 |
| Richard T. du MoulinIndependent · Compensation · Nominating & Corporate Governance | — | — | — | — | — | — |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $120,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | — |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $930,000 |
| Equity awards (grant-date value) | $960,000 |
| All other compensation | $0 |
| Total cost of the board | $1,890,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Pangaea Logistics Solutions | 2025 | Mark Filanowski | $600,000 | $0 | $0 | $0 | $1,237,359 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Mark Filanowski | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Executive Compensation”. As printed: 1,237,359. Filing ↗machine: span 270826–270835 |
| 2 | Section 01, Mads Rosenberg Boye Petersen | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Executive Compensation”. As printed: 1,152,168. Filing ↗machine: span 289168–289177 |
| 3 | Section 01, Gianni Del Signore | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Executive Compensation”. As printed: 878,215. Filing ↗machine: span 280017–280024 |
| 4 | Section 08, Richard DuMoulin | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 295,000. Filing ↗machine: span 189945–190077 |
| 5 | Section 08, Eric S. Rosenfeld | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 237,500. Filing ↗machine: span 192031–192163 |
| 6 | Section 08, David D. Sgro | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 237,500. Filing ↗machine: span 194113–194245 |
| 7 | Section 08, Karen H. Beachy | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 237,500. Filing ↗machine: span 200369–200501 |
| 8 | Section 08, Carl Claus Boggild | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 222,500. Filing ↗machine: span 198283–198415 |
| 9 | Section 08, Gary Vogel | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 222,500. Filing ↗machine: span 202639–202771 |
| 10 | Section 08, Anthony Laura | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 222,500. Filing ↗machine: span 196198–196330 |
| 11 | Section 08, Christina Tan | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 215,000. Filing ↗machine: span 204911–205043 |
| 12 | Section 08, Mads Rosenberg Boye Petersen | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 13 | Section 08, Eugene I. Davis | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 14 | Section 08, Paul M. Leand Jr | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 15 | Section 08, Mark L. Filanowski | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 16 | Section 08, Richard T. du Moulin | DEF 14A | 2026-03-27 | 0001628280-26-021725 | Section “Director Compensation”. As printed: —. Filing ↗ |
| 17 | Section 06, 2026 vote | Form 8-K | 2026-05-12 | 0001628280-26-033728 | Item 5.07 · say-on-pay result. As reported: 98.27% (votes for as printed: 47,010,138). Filing ↗ |
| 18 | Section 06, 2025 vote | Form 8-K | 2025-05-13 | 0001606909-25-000117 | Item 5.07 · say-on-pay result. As reported: 96.45% (votes for as printed: 50,858,848). Filing ↗ |
| 19 | Section 06, 2024 vote | Form 8-K | 2024-08-09 | 0001606909-24-000089 | Item 5.07 · say-on-pay result. As reported: 95.82% (votes for as printed: 33,578,692). Filing ↗ |
| 20 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 21 | Section 09b board cost (computed) | Computed | — | — | Cash 930,000 + equity 960,000 + all other 0 = 1,890,000, summed across the director compensation table rows.machine: formula: Σ = 1,890,000 |
| 22 | Pangaea Logistics Solutions (subject), Section 10b CEO total | DEF 14A | 2026-03-27 | 0001628280-26-021725 | CEO total compensation as printed in Pangaea Logistics Solutions's own proxy. As printed: 1,237,359. Filing ↗machine: span 270826–270835 |