On March 8, 2023, Allen W. West, Vice President of Finance, Chief Financial Officer (“CFO”), Secretary and Treasurer of P.A.M. Transportation Services, Inc. (the “Company”) notified the Company that he intends to resign his positions with the Company. On March 13, 2023, the Board of Directors of the Company appointed Lance K. Stewart to serve as interim CFO and Treasurer of the Company effective immediately until a permanent CFO is selected. Mr. West will remain in an advisory role with the Company until June 8, 2023.

Mr. Stewart, age 53, has served as Vice President of Operations of the Company's primary operating subsidiary, P.A.M. Transport, Inc., since 2020. He served as Vice President of Accounting of P.A.M. Transport from 2016 until 2020. Mr. Stewart previously served as Vice President of Finance, CFO, Secretary and Treasurer of the Company from 2010 until 2013 and as Vice President of Accounting and Controller of P.A.M. Transport from 2002 until 2010.

He began his career with P.A.M. Transport in 1989 and served in various capacities before becoming Vice President of Accounting in 2002. Mr. Stewart will receive an additional monthly base salary of $12,000 for his service as interim CFO.