Schedule 13G/A No.: 3 - P.A.M. Transportation Services, Inc.
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13G
(Rule
13d-102)
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES
13d-1(b)(c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT
TO
RULE
13d-2(b)
(Amendment
No. 3)
P.A.M.
Transportation Services, Inc.
(Name
of Issuer)
Common
Stock, $.01 par value
(Title
of Class of Securities)
693149
10 6
(CUSIP
Number)
(Date
of Event Which Requires Filing of this Statement)
Check
appropriate box to designate the rule pursuant to which this Schedule is
filed:
1The
remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The
information required in the remainder of this cover page shall not be deemed
to
be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934
(“Act”) or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP
NO. 693149 10 6
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|
Page
2 of 5 Pages
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1
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NAME
OF REPORTING PERSON
S.S.
or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
(ENTITIES
ONLY)
Neil
Gagnon
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2
|
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
[ ]
(b)
[X]
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3
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SEC
USE ONLY
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4
|
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CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States of America
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NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE
VOTING POWER
308,259
|
|
6
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SHARED
VOTING POWER
141,825
|
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7
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SOLE
DISPOSITIVE POWER
308,071
|
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8
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SHARED
DISPOSITIVE POWER
510,959
|
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9
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
819,030
|
|
10
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [
]
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11
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW 9
7.6%
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12
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TYPE
OF REPORTING PERSON*
IN
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*SEE
INSTRUCTION BEFORE FILLING OUT!
Item
1(a). Name of Issuer:
P.A.M.
Transportation Services, Inc.
Item
1(b). Address of Issuer's Principal Executive Offices:
297
West
Henri De Tonti
Tontitown,
Arkansas 72770
Item
2(a). Name of Person Filing:
Neil
Gagnon
Item
2(b). Address of Principal Business Office or, if none, Residence:
1370
Avenue of the Americas
Suite
2400
New
York,
NY 10019
Item
2(c). Citizenship:
United
States of America
Item
2(d). Title of Class of Securities:
Common
Shares, par value $.01 per share
Item
2(e). CUSIP Number:
693149
10
6
Item
3.
If this Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or
(c),
Check Whether the Person Filing is a:
Not
Applicable
Item
4.
Ownership.
Item
4(a)
Amount Beneficially Owned:
As
of
December 31, 2005, Neil Gagnon beneficially owned 819,030 shares of Common
Stock
of P.A.M. Transportation Services, Inc., which amount includes (i) 144,502
shares beneficially owned by Mr. Gagnon over which he has sole voting power
and
sole dispositive power; (ii) 188 shares beneficially owned by Mr. Gagnon over
which he has sole voting power and shared dispositive power; (iii) 79,845 shares
beneficially owned by Lois Gagnon, Mr. Gagnon’s wife, over which he has shared
voting power and shared dispositive power; (iv) 32,970 shares held by the Lois
E. and Neil E. Gagnon Foundation (the “Foundation”), of which Mr. Gagnon is a
trustee and over which he has shared voting power and shared dispositive power;
(v) 29,010 shares held by the Gagnon Family Limited Partnership (the
“Partnership”) of which Mr.
Gagnon is a partner and over which he has shared voting power and shared
dispositive power; (vi) 23,245 shares held by the Gagnon Grandchildren Trust
(the “Trust”) over which Mr. Gagnon has shared dispositive power but no voting
power; (vii) 162,599 shares held by four hedge funds (collectively, the
“Funds”), of which Mr .Gagon is either the principal executive officer of the
manager or the managing member of the general partner and over which he has
sole
dispositive power and sole voting power; (viii) 970 shares held by the Gagnon
Securities Profit Sharing Plan and Trust (the “Plan”), of which Mr. Gagnon is a
trustee and over
which he has sole dispositive power and sole voting power; and
(ix)
345,701 shares held for certain customers of Gagnon Securities LLC of which
Mr.
Gagnon is the managing member and the principal owner and over which he has
shared dispositive power but no voting power.
Item
4(b)
Percent of Class:
7.6%
beneficially owned by Mr. Gagnon. Calculation of percentage of beneficial
ownership is based on 10,744,207 shares of the Issuer’s Common Stock outstanding
on November 4, 1005 as reported by the Issuer in its Quarterly Report filed
on
Form 10-Q for the period ended September 30, 2005.
Item
4(c)
Number of shares as to which such person has:
(i)
sole
power to vote or to direct the vote: 308,259
(ii)
shared power to vote or to direct the vote: 141,825
(iii)
sole power to dispose or to direct the disposition of: 308,071
(iv)
shared power to dispose or to direct the disposition of: 510,959
Items
5-9. Not applicable.
Filing
of
this statement by Mr. Gagnon shall not be deemed an admission that he
beneficially owns the securities reported herein as held in customer accounts
at
Gagnon Securities LLC, by the Foundation, the Partnership, the Trust , the
Funds
or the Plan. Mr. Gagnon expressly disclaims beneficial ownership of all
securities held in such customer accounts or by the Foundation, the Partnership
or the Trust, the Funds or the Plan. No single client's interest as reported
in
the customer accounts at Gagnon Securities LLC exceeds 5% of the outstanding
Common Stock of the Issuer.
Item
10
Certification.
By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer
of
the securities and were not acquired and are not held in connection with or
as a
participant in any transaction having that purpose or effect.
SIGNATURE
After
reasonable inquiry and to the best of my knowledge and belief, I certify that
the information set forth in this statement is true, complete and correct.
February
7, 2006
Date
/s/
Neil Gagnon
Neil
Gagnon