Pangaea Logistics Solutions Ltd. — Director's Dealing 2015

May 12, 2015

SEC Form 4/A — Form 4/A

Issuer: Pangaea Logistics Solutions Ltd. (PANL)
CIK: 0001606909
Period of Report: 2015-05-08

Reporting Person: Yu Peter (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-08	Common Stock, Par Value $0.0001 per share	A	10000	—	Acquired	20000	Direct
2014-10-01	Common Stock, Par Value $0.0001 per share	A	13916467	—	Acquired	13916467	Indirect

Footnotes

F1: Shares 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.

F2: Shares 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").

F3: Peter 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.