PAMT CORP — Director's Dealing 2006

Feb 7, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PAM TRANSPORTATION SERVICES INC (PTSI)
CIK: 0000798287
Period of Report: 2006-02-06

Reporting Person: WEAVER ROBERT W (Director, President and CEO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-02-06	Employee Stock Option (Right to Buy)	$23.22	A	16000	Acquired	2012-08-27	Common Stock (16000)	Direct

Footnotes

F1: On August 28, 2002, the reporting person was granted an option to purchase 120,000 shares of common stock of the issuer. The option vests in installments, beginning with 24,000 shares on the date of grant, and the balance in annual installments of 16,000 shares each on each March 15 throught March 15, 2008, subject for each annual installment to the issuer's satisfaction of certain performance criteria for the immediately preceding year. The issuer has determined that the performance criteria for vesting of the March 15, 2006 installment has been met, resulting in that installment being deemed acquired.