Landstar System Inc. Files Definitive Proxy Statement

TL;DR

<b>Landstar System Inc. has filed its Definitive Proxy Statement for the upcoming period.</b>

AI Summary

LANDSTAR SYSTEM INC (LSTR) filed a Proxy Statement (DEF 14A) with the SEC on March 26, 2024. Landstar System Inc. filed a Definitive Proxy Statement (DEF 14A) on March 26, 2024. The filing covers the period ending May 7, 2024. The company's fiscal year ends on December 30. Landstar System Inc. is incorporated in Delaware. The company's principal executive offices are located in Jacksonville, Florida.

Why It Matters

For investors and stakeholders tracking LANDSTAR SYSTEM INC, this filing contains several important signals. This DEF 14A filing provides detailed information regarding the company's annual meeting, executive compensation, and other corporate governance matters. Shareholders will be able to review proposals and cast their votes on important company decisions.

Risk Assessment

Risk Level: low — LANDSTAR SYSTEM INC shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial or operational concerns.

Analyst Insight

Review the proxy statement to understand executive compensation, board nominations, and any shareholder proposals to inform voting decisions.

Key Numbers

• 2024-03-26 — Filing Date (DEF 14A filing date)
• 2024-05-07 — Reporting Period End Date (Conformed period of report)
• 1230 — Fiscal Year End (Company fiscal year end)

Key Players & Entities

• LANDSTAR SYSTEM INC (company) — Filer
• DEF 14A (filing) — Form Type
• 2024-03-26 (date) — Filed as of date
• 2024-05-07 (date) — Conformed period of report
• 0000853816 (company) — Central Index Key
• DE (location) — State of Incorporation
• JACKSONVILLE (location) — Business Address City
• FL (location) — Business Address State

FAQ

Industry Context

Landstar System Inc. operates in the trucking industry, a sector critical for logistics and supply chain management.

Regulatory Implications

As a publicly traded company, Landstar System Inc. is subject to SEC regulations, including the requirement to file proxy statements for shareholder meetings.

What Investors Should Do

1. Review the detailed proposals and resolutions presented in the DEF 14A.
2. Evaluate the executive compensation packages and their alignment with company performance.
3. Understand the board of directors' nominations and any shareholder-proposed initiatives.

Key Dates

• 2024-03-26: Filing of DEF 14A — Indicates the company is providing its definitive proxy statement to the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure document for annual shareholder meetings. No prior filing of this specific type is directly comparable in this extract.

Key Financial Figures

• $0.01 — Common Stock of the Company, par value $0.01 per share ("Common Stock"), represented
• $11,500 — nual Meeting for a fee of approximately $11,500 plus reasonable expenses. In addition t

Filing Documents

• d696225ddef14a.htm (DEF 14A) — 664KB
• g696225g16o73.jpg (GRAPHIC) — 6KB
• g696225g52j00.jpg (GRAPHIC) — 89KB
• g696225g52j01.jpg (GRAPHIC) — 86KB
• g696225g53j01.jpg (GRAPHIC) — 86KB
• g696225g54g54.jpg (GRAPHIC) — 87KB
• g696225g63g63.jpg (GRAPHIC) — 80KB
• g696225g64g64.jpg (GRAPHIC) — 81KB
• g696225g65g65.jpg (GRAPHIC) — 326KB
• g696225g66g66.jpg (GRAPHIC) — 216KB
• g696225g71q56.jpg (GRAPHIC) — 27KB
• g696225g97q48.jpg (GRAPHIC) — 12KB
• 0001193125-24-077191.txt (&nbsp;) — 4145KB
• lstr-20231231.xsd (EX-101.SCH) — 6KB
• lstr-20231231_def.xml (EX-101.DEF) — 6KB
• lstr-20231231_lab.xml (EX-101.LAB) — 10KB
• lstr-20231231_pre.xml (EX-101.PRE) — 6KB
• d696225ddef14a_htm.xml (XML) — 193KB

From the Filing

DEF 14A UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the RegistrantFiled by a party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Pursuant to 240.14a-12 Landstar System, Inc. (Name of Registrant as Specified in its Charter) Not applicable. (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials. Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. LANDSTAR SYSTEM, INC. 13410 Sutton Park Drive South Jacksonville, Florida 32224 March 26, 2024 To the Stockholders of Landstar System, Inc.: You are cordially invited to attend the Annual Meeting of Stockholders of Landstar System, Inc., on Tuesday, May 7, 2024, at 9:00 a.m., Eastern Time, to be held in a virtual-only meeting format. A notice of meeting, a proxy card, the 2023 Annual Report on Form 10-K and a Proxy Statement containing information about the matters to be acted upon are enclosed. It is important that your shares be represented at the meeting. Accordingly, please vote promptly by telephone, via the Internet or by signing, dating and returning the enclosed proxy card. Instructions for voting by telephone or via the Internet are included on the enclosed proxy card. I look forward to the Annual Meeting of Stockholders and I hope you will attend the virtual meeting or be represented by proxy. As always, we encourage you to vote your shares prior to the annual meeting. FRANK A. LONEGRO President and Chief Executive Officer LANDSTAR SYSTEM, INC. 13410 Sutton Park Drive South Jacksonville, Florida 32224 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS To Be Held May 7, 2024 Notice is hereby given that the 2024 Annual Meeting of Stockholders (the "2024 Annual Meeting") of Landstar System, Inc., a Delaware corporation (the "Company"), will be held in a virtual-only meeting format on Tuesday, May 7, 2024, at 9:00 a.m. Eastern Time, for the following purposes: (1) To elect six (6) members of the Board of Directors; (2) To ratify the appointment of KPMG LLP as the Company's independent registered public accounting firm for fiscal year 2024; (3) To hold an advisory vote on executive compensation; and (4) To transact such other business as may properly come before the meeting or any adjournment thereof. Only stockholders of record at the close of business on March 13, 2024 will be entitled to notice of, and to vote at, the meeting. A list of stockholders eligible to vote at the meeting will be available during business hours from April 24, 2024 to the date of the meeting at the address set forth above, the Company's corporate headquarters. Important Notice Regarding the Availability of Proxy Materials for the Stockholder meeting to be held on May 7, 2024: The proxy statement and annual report to security holders are available at www.landstar.com and www.proxyvote.com . The platform for the virtual 2024 Annual Meeting includes functionality that provides validated stockholders the same meeting participation rights and opportunities they would have at an in-person meeting. Instructions to access and log-in to the virtual Annual Meeting are provided below. Once admitted, stockholders may view reference materials, submit questions and vote their shares by following the instructions that will be available on the meeting website. For admission to the 2024 Annual Meeting, stockholders may go to www.virtualshareholdermeeting.com/LSTR2024 and enter the 16-digit control number you received with your proxy materials. Online access to the 2024 Annual Meeting will open at 8:45 a.m., Eastern Time on the morning of the meeting to allow time for stockholders to log-in prior to the start of the live audio webcast of the 2024 Annual Meeting at 9:00 a.m. Eastern Time. Persons who do not have a control number may attend as guests and will be able to hear the audio webcast but will not be able to utilize the question, voting or other functionality noted above. A recording of the webcast will be available at www.virtualshareholdermeeting.com/LSTR2024, approximately 24 hours after the conclusion of the meeting. All stockholders are cordially invited to attend the 2024 Annual Meeting. Whether you expect to attend the meeting or not, your proxy vote is very important. To assure your representation at the 2024 Annual Meeting, the Company encourages you to vote in advance of the meeting by using one of the methods set forth below, wh