Sec Form 4 Filing - CUSHMAN DANIEL H @ PAM TRANSPORTATION SERVICES INC - 2018-06-25

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person CUSHMAN DANIEL H 2. Issuer Name and Ticker or Trading Symbol PAM TRANSPORTATION SERVICES INC [ PTSI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) President & CEO (Last) (First) (Middle) C/O P.A.M. TRANSPORTATION SERVICES INC., POST OFFICE BOX 188 3. Date of Earliest Transaction (MM/DD/YY) 06/25/2018 (Street) TONTITOWN, AR72770 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 06/25/2018 M 4,000 A $ 11.22 81,667 D Common Stock 06/25/2018 M 800 A $ 11.22 82,467 D Common Stock 06/25/2018 M 19,600 A $ 10.9 102,067 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Employee Stock Option (Right to Buy) $ 11.22 06/25/2018 M 4,000 ( 1 ) 11/30/2020 Common Stock 4,000 $ 11.22 0 D Employee Stock Option (Right to Buy) $ 11.22 06/25/2018 M 800 ( 2 ) 11/30/2020 Common Stock 800 $ 11.22 0 D Employee Stock Option (Right to Buy) $ 10.9 06/25/2018 M 19,600 ( 3 ) 05/24/2022 Common Stock 19,600 $ 10.9 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other CUSHMAN DANIEL H C/O P.A.M. TRANSPORTATION SERVICES INC. POST OFFICE BOX 188 TONTITOWN, AR72770 X President & CEO Signatures /s/Courtney C. Crouch, III, as Attorney-in-fact for Daniel H. Cushman 06/26/2018 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The option vested in five equal annual installments which began on November 30, 2011. ( 2 )On November 30, 2010, the reporting person was granted an option for 25,600 shares to vest based on the satisfaction of certain quarterly and annual performance criteria by P.A.M. Transportation Services, Inc. (the "Company") for each quarter in 2011 and for the year ended 2011. Two Thousand (2,000) shares became exercisable in five equal annual installments beginning on the first anniversary of the date of the Company's earnings release in which the applicable performance criteria were met. The performance criteria for the second quarter of 2011 were met, resulting in the vesting of 2,000 shares in five equal annual installments beginning on July 27, 2012. ( 3 )The option vested in five equal annual installments which began on May 24, 2013.

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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