Landstar System Inc. Files 2024 10-K, Details Executive Awards
Ticker: LSTR · Form: 10-K · Filed: Feb 24, 2025 · CIK: 853816
| Field | Detail |
|---|---|
| Company | Landstar System INC (LSTR) |
| Form Type | 10-K |
| Filed Date | Feb 24, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, executive-compensation, transportation-logistics
TL;DR
Landstar's 2024 10-K shows execs earned extra stock for hitting performance goals in '21 & '22.
AI Summary
Landstar System Inc. filed its 10-K for the fiscal year ending December 28, 2024. The filing details executive compensation, including additional Restricted Stock Unit (RSU) awards earned in fiscal years 2021 and 2022 due to exceeding financial performance targets and total shareholder return thresholds. The company's business includes various truck transportation services within its transportation logistics segment.
Why It Matters
This filing provides insight into how executive compensation is tied to company performance, potentially influencing future strategic decisions and shareholder value.
Risk Assessment
Risk Level: low — The filing is a standard annual report and does not contain immediate, high-impact negative news.
Key Numbers
- 2024 — Fiscal Year End (The period covered by the 10-K filing.)
- 2021 — Fiscal Year (Year for which performance targets were exceeded for RSU awards.)
- 2022 — Fiscal Year (Year for which performance targets were exceeded for RSU awards.)
Key Players & Entities
- Landstar System Inc. (company) — Filer of the 10-K
- 2024-12-28 (date) — Fiscal year end
- 2025-02-24 (date) — Filing date
- Restricted Stock Unit (RSU) awards (dollar_amount) — Form of executive compensation
FAQ
What specific financial metrics were used to determine the RSU awards for fiscal years 2021 and 2022?
The filing mentions 'financial results exceeded target performance level' and 'total shareholder return during the applicable performance period exceeded target performance level' for RSU awards, but does not specify the exact metrics.
What is the primary business segment of Landstar System Inc. as described in the filing?
The primary business segment mentioned is 'transportation logistics', which includes power-only, expedited, straight truck, cargo van, and miscellaneous other truck transportation revenue.
When was Landstar System Inc. incorporated?
The filing indicates the state of incorporation is Delaware (DE).
What is Landstar System Inc.'s SIC code?
Landstar System Inc.'s Standard Industrial Classification (SIC) code is 4213, which corresponds to 'TRUCKING (NO LOCAL)'.
What is the physical address of Landstar System Inc.'s headquarters?
The business address is 13410 Sutton Park Drive South, Jacksonville, FL 32224.
Filing Details
This Form 10-K (Form 10-K) was filed with the SEC on February 24, 2025 regarding LANDSTAR SYSTEM INC (LSTR).